Suchergebnisse

We analyze the impact of the French 2012 financial transaction tax (FTT) on trading volumes, stock prices, liquidity, and volatility. We extend the empirical research by identifying FTT announcement and short-run treatment effects, which can distort difference-in-differences estimates. In addition, we consider long-run volatility measures that better fit the French FTT's legislative design. While we find strong evidence of a positive FTT announcement effect on trading volumes, there is almost no statistically significant evidence of a long-run treatment effect. Thus, evidence of a strong reduction of trading volumes resulting from the French FTT might be driven by announcement effects and short-term treatment effects. We find evidence of an increase of intraday volatilities in the announcement period and a significant reduction of weekly and monthly volatilities in the treatment period. Our findings support theoretical considerations suggesting a stabilizing impact of FTTs on financial markets.

"This paper is aimed to assess, with two lab experiments, to what extent Kőszegi and Rabin's (2006) model of expectations-based reference-dependent preferences can explain Knetsch's (1989) endowment effect. Departing from past work, we design an experiment that treats the two goods (a mug and a pen) symmetrically in all but in the probabilities with which they are expected to be owned. Thus, our "endowmentless" endowment effect experiment shuts down all alternative mechanisms while leaving expectations the only difference between treatments. We find no evidence that expectations alone can reproduce any of the original effect"--National Bureau of Economic Research web site

"Media Effects offers students an in-depth examination of the media's constant influence on individuals and society. W. James Potter frames media's effects in two templates: influence on individuals and influence on larger social structures and institutions. By positioning the different types of effects in the forefront, Potter helps students understand the full range of media effects, how they manifest themselves, and the factors that that are likely to bring these effects into being. Throughout the book, Potter encourages students to analyze their own experiences by searching for evidence of these effects in their own lives, making the content meaningful on a personal level." -- Provided by publisher.

"Professor Karina V. Korostelina presents insights into the "Trump effect" and explains how the support for Trump among the American general public is based on three complementary pillars. First, Trump champions a specific conception of American national identity that empowers his supporters. Second, Trump's leadership has, to an extent, been crafted from his ability to recognize where and with whom he can get the most return on his investment (e.g. his political comments) and address the perceived general malaise in the U.S. Trump also mirrors the emotions of a disenfranchised American public, and inspires the use of frustration based anger and insults to achieve desired aims. He addresses the public's intolerance of uncertainty and ambivalence by providing simpler solutions to complex national problems and by blurring the boundary betweent he leading political parties. Further, Trump employs existing political polarization and has established a new kind of morality. Third, Trump challenges the existing political balance of power within the U.S. and globally.

Our atmosphere : what control's Earth's temperature? -- A history of the climate : what were Earth's atmosphere and temperature like in the past? -- The human era : how do the resources we use affect the atmosphere? -- The big truth: Breaking the cycle : why do human activities make a difference to the atmosphere? -- Heating the planet : how is Earth's temperature changing now? -- Activity: Think like a scientist -- Kids in action.

The Cold War -- How did Stalin's postwar strategy lead to the start of the Cold War? -- What effect did the McCarthy Hearings have on Cold War policies? -- How did the Cuban Missile Crisis affect Cold War strategy on both sides? -- Did the American military buildup in the 1980s help end the Cold War?