The purpose of this paper is to study the direction of causality between the stock market and macroeconomic variables. India is taken as a case study. Although, there have been many studies which attempted to find out the relationship between Indian stock market and economic variables, this...

This paper seeks to close the gap of the lack of empirical evidence surrounding the different impact of conventional interest rates on Islamic finance components – Islamic stock markets, Islamic banking and Islamic insurance (called takaful). Such evidence remains imperative in order for the...

Abstract ; Background: The health care reform of 2004 was intended to reduce moral hazard in the statutory health insurance through various financial incentives. An important element of the reform has been the introduction of a per-quarter fee for doctor visits. The second part of the reform has...

We report the results of a field experiment evaluating the impact of financial literacy training on teenagers between 14 and 16 years in German high schools. After the training, treated teenagers exhibit a significant increase in both interest in financial matters and self-assessed knowledge...

This study examines the impact of product market competition and corporate governance on productivity growth in German manufacturing. Using a panel of almost 500 firms over the years 1986 to 1994, we find that firms experience higher productivity growth when operating in markets with intense...

Anchoring vignettes are commonly used to study and correct for differential item functioning and response bias in subjective survey questions. Self-assessed health status is a leading example. A crucial assumption of the vignette methodology is ’vignette equivalence’: The health status of...