The Resource Essays in applied microeconometrics : household and firm investment, Stefan Lamp

Essays in applied microeconometrics : household and firm investment, Stefan Lamp

Label
Essays in applied microeconometrics : household and firm investment
Title
Essays in applied microeconometrics
Title remainder
household and firm investment
Statement of responsibility
Stefan Lamp
Creator
Contributor
Subject
Language
eng
Summary
The thesis contains three chapters relating to household and firm investment. The first chapter, coauthored with Silvia Albrizio, investigates the relationship between fiscal consolidation, business plans, and firm investment. Based on a detailed narrative of tax changes in Germany covering 40 years of fiscal adjustments, we define and exploit the exogenous variation of tax bills to quantify the effect of tax changes on firm's future investment plans as well as on realized investment. We find that firms in the manufacturing sector revise downward both planned and realized investment subsequently to tax adjustments. Furthermore we find that income and consumption taxes are most harmful to investment and that firms base their investment plans considering laws currently under discussion, anticipating future tax changes. In the second chapter, I investigate if irreversible household investment decisions are affected by behavioral factors, namely Projection Bias (Loewenstein, O'Donoghue, and Rabin (2003)). I use detailed weather data to test if exceptional sunny months have a positive and significant impact on solar photovoltaic (PV) adoption at county level and interpret my findings as strong support for the Projection bias hypothesis given that other weather shocks such as temperature, rain and snow do not show any significant impact. Results are robust to a wide variety of robustness checks and shock definitions. Elaborating on heterogeneity, I confirm that political ideology can play an important role: counties with higher share of Green voters are more perceptive to Projection Bias in their solar investment decisions. The final chapter investigates the role of economic policy for the installation of solar PV in Germany. After empirically evaluating the variables that play a key role in the household investment decision, I construct a dynamic stochastic discrete choice model of technology adoption to evaluate how different policy dimensions affect the household investment choice and aggregate technology uptake. The simulation exercise shows that an increase in the annual tariff reduction for new installations (degression rate) has the biggest negative impact on investment
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Lamp, Stefan
Date time place
Defence date: 5 September 2014
Dissertation note
Thesis (Ph. D.)--European University Institute (ECO), 2014.
Index
no index present
Literary form
non fiction
Nature of contents
theses
http://library.link/vocab/relatedWorkOrContributorName
European University Institute
Series statement
  • EUI PhD theses
  • EUI theses
http://library.link/vocab/subjectName
  • Microeconomics
  • Households
  • Investments
Label
Essays in applied microeconometrics : household and firm investment, Stefan Lamp
Link
http://hdl.handle.net/1814/32553
Instantiates
Publication
Note
Examining Board: Professor Jerome Adda, Supervisor, Università Bocconi; Professor Antonia Diaz, Universidad Carlos III de Madrid; Professor Andrea Ichino, EUI; Professor Fabiano Schivardi, Luiss University
Bibliography note
Includes bibliographical references (pages 123-124)
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17582490
Dimensions
30 cm.
Extent
vi, 124 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
n
System control number
(OCoLC)914478819
Label
Essays in applied microeconometrics : household and firm investment, Stefan Lamp
Link
http://hdl.handle.net/1814/32553
Publication
Note
Examining Board: Professor Jerome Adda, Supervisor, Università Bocconi; Professor Antonia Diaz, Universidad Carlos III de Madrid; Professor Andrea Ichino, EUI; Professor Fabiano Schivardi, Luiss University
Bibliography note
Includes bibliographical references (pages 123-124)
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17582490
Dimensions
30 cm.
Extent
vi, 124 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
n
System control number
(OCoLC)914478819

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