2.5 million - DFF (01-07-2016)
Title: Should we tax unhealthy food consumption?
Description: I et forsøg på at begrænse befolkningens forbrug af usunde fødevarer blev Danmark i oktober 2011 det første land til at indføre en afgift på mættet fedt, den såkaldte fedtafgift. I januar 2013 blev afgiften afskaffet igen, kun 15 måneder efter den var blevet introduceret. Det, at fedtafgiften var meget upopulær og hyppigt blev fremstillet som en økonomisk fiasko, har ikke forhindret, at flere europæiske lande overvejer at indføre lignende tiltag. Da der ikke findes undersøgelsesbaserede beviser for hverken de positive og negative konsekvenser af fedtafgiften, kan beslutningstagerne kun støtte sig til anbefalinger baseret på teoretiske modeller, gætterier og ikke-videnskabelige påstande. Indeværende projekt vil udfylde dette tomrum ved at levere en årsagsbaseret vurdering af fedtafgiftens kort- og langvarige indvirkninger på forbrugernes og producenternes adfærd, herunder også utilsigtede effekter. Dette inkluderer betydningen for grænsehandlen i Tyskland og på forbruget af billigere – snarere end sundere – alternativer.
Christian Riis Flor
DKK 3.7 million - DFF (01-07-2016)
Title: Identifying the role of private equity firms in creating value
Description: Takeovers of companies by private equity firms are often debated. Are private equity firms merely seeking short-term profit maximization? Or are they in fact creating value by being the cheapest mechanism to solve a friction in the Financial market? Empirical evidence points to some positive effects of private equity firms, but interpreting the results is difficult as there is no solid theoretical foundation. This particularly holds true for understanding implications of dynamic effects together with macroeconomic risk, information quality, and strategic issues among the private equity firm, the target firm, and other operating firms competing in the takeover. The project fills this gap. The results yield a theoretical framework pointing to necessary conditions for private equity firms to create value. This will impact the future debate on the role of private equity, lead to more precise empirical predictions, and help politicians determine the need for regulating private equity firms.
DKK 5.9 million - DFF (01-09-2016)
Title: Rethinking the economic take-off of Denmark
Description: Economic historians usually describe a ‘breakthrough’ to modern economic growth in Denmark from the 1880s as the rapid adoption of new technology (the automatic steam centrifuge) and new institutions (the cooperative movement) led to her emergence as a successful exporter of dairy and pork products. After the first cooperative creamery was established in 1882, within a decade the entire country was covered. Although it is not denied that substantial changes did occur in Denmark at this time, it is expected to demonstrate that the idea of a breakthrough is in part a myth. The aim is firstly to show that the story goes back much further, having its origins in knowledge transfer from abroad and the reorganization of the countryside in the 18th and 19th centuries. Secondly, it is expected to show that even the history of the cooperatives themselves has been misunderstood by documenting their dependence on imports of coal, and investigating how they compare to their Irish counterparts.
DKK 1.7 million - DFF (01-07-2016)
Title: Effects of migration
Description: What is the role of migration for economic development? This project uses historical migration streams to and from Denmark to shed light on this question and to show that migration can foster economic growth using advanced econometric techniques. Denmark is an interesting case to study as it was an agricultural frontrunner in the 19th century. First, this meant that Denmark was a country of immigration during a period of massive emigration from Europe to the US. The project analyzes how Denmark has benefitted from its ability to import labor, by studying the effects of immigration on regional wages and living standards. Second, a highly productive and innovative agricultural sector meant that after a series of important innovations in the dairy sector in the 1870s and 1880s, Danish emigrants carried knowledge on these new technologies. Data on emigrants to the US before and after 1890 is used to test the hypothesis that immigration fosters economic growth through the spread of ideas.