http://hdl.handle.net/10993/79 Search this channel search https://orbilu.uni.lu/simple-search http://hdl.handle.net/10993/56028 Title: Wohlstand als Gegenstand und Perspektive der Raumforschung. Überlegungen aus dem Arbeitskreis ,,Wohlstandsalternativen und Regionalentwicklung" <br/> <br/>Author, co-author: Becker, Sören; Schmid, Benedikt; Zademach, Hans-Martin; Schulz, Christian; Willi, Yasmine; Eichmann, Hubert Sun, 24 Sep 2023 08:22:43 GMT http://hdl.handle.net/10993/55784 Title: Towards a peer-to-peer residential short-term load forecasting with federated learning <br/> <br/>Author, co-author: Delgado Fernandez, Joaquin; Potenciano Menci, Sergio; Pavić, Ivan <br/> <br/>Abstract: The inclusion of intermittent and renewable energy sources has increased the importance of demand forecasting in the power systems. Smart meters play a critical role in modern load forecasting due to the high granularity of the measurement data. Federated Learning can enable accurate residential load forecasting in a distributed manner. In this regard, to compensate for the variability of households, clustering them in groups with similar patterns can lead to more accurate forecasts. Usually, clustering requires a central server that has access to the entire dataset, which collides with the decentralized nature of federated learning. In order to complement federated learning, this study proposes a decentralized Peer-to-Peer strategy that employs agent-based modeling. We evaluate it in comparison to a typical centralized k-means clustering. To create clusters, we compare Euclidian and Dynamic time warping distances. We employ these clusters to build short-term load forecasting models using federated learning. Our results reveal the possibility of using Peer-to-Peer clustering along with simple Euclidean distances and Federated Learning to obtain highly performant load forecasting models in a fully decentralized setting. Mon, 14 Aug 2023 08:21:26 GMT http://hdl.handle.net/10993/55251 Title: The Human Factor in Blockchain Ecosystems: A Sociotechnical Framework <br/> <br/>Author, co-author: Brennecke, Martin; Guggenberger, Tobias; Sachs, Alexander; Schellinger, Benjamin <br/> <br/>Abstract: As blockchain development continues at an ever-increasing pace, an increasing number of individual actors and organizations throughout entire econ-omies get into contact with the technology. Furthermore, the growing collabora-tion of companies, customers, suppliers, and other actors is evolving into a mul-tilateral network between the parties engaged with the technology. Therefore, to understand blockchain-based business models and innovations, it is necessary to understand human interactions within blockchain ecosystems. Consequently, this paper offers new insights concerning the role of human actors within blockchain ecosystems. For this purpose, the structure within and around the Ethereum-blockchain is analyzed using existing literature on the Ethereum ecosystem and Sociotechnical systems. The analysis results are then placed in their context and summarized in a framework for comparable ecosystems. Wed, 31 May 2023 09:23:04 GMT http://hdl.handle.net/10993/55249 Title: The De-Central Bank in Decentralized Finance: A Case Study of MakerDAO <br/> <br/>Author, co-author: Brennecke, Martin; Guggenberger, Tobias; Schellinger, Benjamin; Urbach, Nils <br/> <br/>Abstract: Countless decentralized finance (DeFi) applications of the past years have suffered from the high volatility and speculative behavior surrounding their underlying crypto assets. While the academic debate has been flourishing in these areas, Decentralized Autonomous Organizations (DAOs) have not received as much attention. This is the case even though they could offer an opportunity to solve some of the underlying problems of existing cryptocurrencies and ecosystems, for example, by providing lower volatility and, thus, exchange rate stability. This paper presents an economic analysis of the MakerDAO, a DAO in DeFi. In doing so, we use a single case study methodology based on existing resources and expert interviews. It also uses monetary theory instruments to provide researchers and developers with insights into how DAOs are governed. Further, it serves to illustrate how IS research may support the development of future IT artifacts aimed at offering the infrastructure for DeFi applications. Wed, 31 May 2023 07:12:47 GMT http://hdl.handle.net/10993/55043 Title: Italy’s Total Factor Productivity in a Global Economy: Growth and Spillover Effects (c. 1400–2010) <br/> <br/>Author, co-author: Calabrese, Matteo <br/> <br/>Abstract: Due to a lack of historical data, there is a gap in the literature with regard to total factor productivity (TFP) series in the long run for Italy. In this article, by combing information from the literature, original TFP estimates assessed with a “price dual” methodology (where changes in factor prices are used to capture physical output), and a Cobb–Douglas production equation, we first introduce a set of new TFP measures for Italy between 1360 and 1770 as well as for various global regions from c. 1400 to 2010. Second, the resulting new dataset allows us to decompose TFP in global spillover effects of technology and local effects for Italy in the long run. We find that spillover effects played a non-significant part in determining Italy’s TFP decline between c. 1600 and 1800. However, the spillover component grew faster during the period 1890–2010 and reached peaks during phases of declining local (trend) TFP growth, such as between the two world wars and in the period starting with the second globalisation (1989–2010). Fri, 05 May 2023 19:35:15 GMT http://hdl.handle.net/10993/54716 Title: Umwelt <br/> <br/>Author, co-author: Braun, Boris; Schulz, Christian Mon, 27 Mar 2023 12:52:29 GMT http://hdl.handle.net/10993/54324 Title: Federated Learning for Credit Risk Assessment <br/> <br/>Author, co-author: Lee, Chul Min; Delgado Fernandez, Joaquin; Potenciano Menci, Sergio; Rieger, Alexander; Fridgen, Gilbert <br/> <br/>Abstract: Credit risk assessment is a standard procedure for financial institutions (FIs) when estimating their credit risk exposure. It involves the gathering and processing quantitative and qualitative datasets to estimate whether an individual or entity will be able to make future required payments. To ensure effective processing of this data, FIs increasingly use machine learning methods. Large FIs often have more powerful models as they can access larger datasets. In this paper, we present a Federated Learning prototype that allows smaller FIs to compete by training in a cooperative fashion a machine learning model which combines key data derived from several smaller datasets. We test our prototype on an historical mortgage dataset and empirically demonstrate the benefits of Federated Learning for smaller FIs. We conclude that smaller FIs can expect a significant performance increase in their credit risk assessment models by using collaborative machine learning. Thu, 02 Feb 2023 15:49:31 GMT http://hdl.handle.net/10993/54319 Title: Federated Learning as a Solution for Problems Related to Intergovernmental Data Sharing <br/> <br/>Author, co-author: Sprenkamp, Kilian; Delgado Fernandez, Joaquin; Eckhardt, Sven; Zavolokina, Liudmila <br/> <br/>Abstract: To address global problems, intergovernmental collaboration is needed. Modern solutions to these problems often include data-driven methods like artificial intelligence (AI), which require large amounts of data to perform well. However, data sharing between governments is limited. A possible solution is federated learning (FL), a decentralised AI method created to utilise personal information on edge devices. Instead of sharing data, governments can build their own models and just share the model parameters with a centralised server aggregating all parameters, resulting in a superior overall model. By conducting a structured literature review, we show how major intergovernmental data sharing challenges like disincentives, legal and ethical issues as well as technical constraints can be solved through FL. Enhanced AI while maintaining privacy through FL thus allows governments to collaboratively address global problems, which will positively impact governments and citizens. Wed, 01 Feb 2023 12:48:54 GMT http://hdl.handle.net/10993/52769 Title: The effects of IMF conditional programs on the unemployment rate <br/> <br/>Author, co-author: Chletsos, Michael; Sintos, Andreas <br/> <br/>Abstract: The fundamental mission of the International Monetary Fund (IMF) is to ensure global financial stability and to assist countries in economic turmoil. Although there is a consensus that IMF-supported programs can have a direct effect on the labor market of recipient countries, it remains unclear how IMF participation decision and conditionalities attached to IMF loans can affect the unemployment rate of borrowing countries. Using a world sample of countries from 1980 to 2014, we investigate how lending conditional programs of the IMF affect the unemployment rate. Our analyses account for the selection bias related to, first, the IMF participation decision and, second, the conditions included within the program. We show that IMF program participation significantly increases the unemployment rate of recipient countries. Once we control for the number of conditions, however, we find that only IMF conditions have a detrimental and highly significant effect on the unemployment rate. There is evidence that the adverse short-run effect of IMF conditions holds robust in the long-run. Disaggregating IMF conditionality by issue area, we find adverse effects on the unemployment rate for four policy areas: labor market deregulation, reforms requiring privatization of state-owned enterprises, external sector reforms stipulating trade and capital account liberalization, and fiscal policy reforms that restrain government expenditure. Our initial results are found to be robust across alternative empirical specifications. Tue, 15 Nov 2022 07:23:45 GMT http://hdl.handle.net/10993/52768 Title: Financial development and income inequality: A meta-analysis <br/> <br/>Author, co-author: Chletsos, Michael; Sintos, Andreas <br/> <br/>Abstract: The voluminous empirical research on the effect of financial development on income inequality has yielded mixed results. In this paper, we collect 2127 estimates reported in 116 published studies that investigate the effect of financial development on income inequality. Although our initial tests for publication bias (which do not account for moderator variables) show that the current literature does not suffer from publication selectivity, once we control for a set of moderator variables, we find evidence of mild publication bias in favor of positive estimates (i.e., the current literature favors the publication of studies that find that financial development increases income inequality). In addition, our results suggest that the overall effect of financial development on income inequality is on average zero, but that its sign and magnitude depend systematically on various study characteristics. The characteristics of data and estimation methods, whether endogeneity is taken into account, the different measures of financial development and the inclusion of financial openness, inflation and income variables in the regressions matter significantly for the effect of financial development on inequality. Tue, 15 Nov 2022 07:19:20 GMT http://hdl.handle.net/10993/52767 Title: The effects of IMF programs on income inequality: a semi-parametric treatment effects approach <br/> <br/>Author, co-author: Chletsos, Michael; Sintos, Andreas <br/> <br/>Abstract: Purpose This paper aims to provide new insights regarding the impact of International Monetary Fund (IMF) programs on income inequality. Design/methodology/approach The paper uses a novel methodological approach proposed by Acemoglu et al. (2019), using (1) the regression adjustment, (2) the inverse probability weighting and (3) the doubly robust estimator, which combines (1) and (2), and a sample of annual data for 135 developing countries over the time period 1970 to 2015. Findings The findings show that IMF programs are associated with greater income inequality for up to five years. By differentiating the effect of IMF programs, the authors find that only IMF non-concessional programs have a significant detrimental effect on income inequality, while IMF concessional programs do not have a consistent effect on income inequality. In addition, the authors find that only IMF programs with a higher number of conditions have a detrimental and statistically significant effect on income inequality, compared to IMF programs with a smaller number of conditions, where their effect on income inequality is found to be insignificant. Originality/value To the best of the authors’ knowledge, the analysis developed in this paper contributes to the existing literature by applying the most methodologically sound identification strategy, which does not rely on the linearity assumption, the selection of instruments or matching variables and additionally takes into account the selection bias related to IMF program participation. Tue, 15 Nov 2022 07:13:53 GMT http://hdl.handle.net/10993/52766 Title: Hide and seek: IMF intervention and the shadow economy <br/> <br/>Author, co-author: Chletsos, Michael; Sintos, Andreas <br/> <br/>Abstract: By explicating the mechanisms through which International Monetary Fund (IMF) programs operate, this study investigates the effect of IMF intervention on the shadow economy. Using a sample of 141 countries from 1991 to 2014, we examine the impact of both IMF participation and conditionality on the informal economy. Our analyses address sources of endogeneity related to, first, the IMF participation decision and, second, the conditions included within the program. The empirical findings suggest that both IMF program participation and conditionality increase the size of the shadow economy. Disaggregating IMF conditions into structural and quantitative shows that only structural conditions are significantly related to a larger shadow economy both in the short- and long-term. Financial development can reduce the size of the shadow economy, yet it cannot reverse the detrimental effect of IMF conditions. Our initial results are found to be robust across alternative empirical specifications. Tue, 15 Nov 2022 07:03:43 GMT http://hdl.handle.net/10993/52737 Title: Das Versprechen der Zirkularität <br/> <br/>Author, co-author: Hild, Paula; Schulz, Christian <br/> <br/>Abstract: Against the backdrop of the recent political dynamics in the EU and in many of its member states regarding the Circular Economy, the present article discusses the impact of the concept so far and the challenges related to its implementation. In particular, it sheds a critical light on the following three aspects: first, the selective reception of the approach by key actors in industry and politics; second, the obvious implementation problems in trade and industry; and third, the underlying, growth-fixated economic model. Results from our own empirical work on the Luxembourg construction industry illustrate the reasoning. The article argues for a holistic and growth-critical understanding of circularity that not only gives space to orientation of efficiency and consistency but above all also to considerations of sufficiency. Fri, 11 Nov 2022 17:14:45 GMT http://hdl.handle.net/10993/51652 Title: Auswirkungen der Grenzschließungen auf die systemrelevanten Arbeitskräfte und den grenzüberschreitenden Arbeitsmarkt in der Großregion während der Covid-19-Pandemie <br/> <br/>Author, co-author: Nienaber, Birte; Funk, Ines; Dörrenbächer, H. Peter; Pigeron, Isabelle; Belkacem, Rachid <br/> <br/>Abstract: Mit den Grenzschließungen im Frühjahr 2020 wurde es für Grenzgänger:innen – auch in der sogenannten „Großregion“ / „Grande-Région“ – schwierig, ihren Arbeitsplatz zu erreichen. Vor allem systemrelevante Arbeitskräfte im Gesundheits-, Rettungs- und Industriesektor standen im Zentrum der Debatte um mangelnde Solidarität zwischen den verschiedenen Grenzregionen und Ländern. Dieser Artikel analysiert die Auswirkungen der Grenzschließungen auf verschiedene Aspekte der Solidarität in der Großregion, die Grenzregion mit der höchsten Zahl an Grenzgänger:innen in Europa. Die Solidarität als europäischer Wert wurde auf die Probe gestellt – sowohl zwischen den Ländern (z. B. durch den ‚Diebstahl‘ von wichtigen Arbeitskräften und nahezu unmöglich gemachter grenzüberschreitender Mobilität durch Grenzkontrollen) als auch zwischen unterschiedlichen Gruppen von Arbeitnehmer:innen, wie Telearbeiter:innen und Nicht-Telearbeiter:innen sowie zwischen Grenzpendler:innen und Nicht-Grenzpendler:innen, welche etwa durch Kurzarbeitsregelungen unterschiedlich behandelt wurden (z. B. im Gesundheitssektor).; With the border closures in spring 2020, it became difficult for cross-border workers - also in the so-called "Großregion" / "Grande-Région" - to reach their jobs. Especially essential workers in the health, rescue and industrial sectors were at the centre of the debate about a lack of solidarity between the different border regions and countries. This article analyses the impact of border closures on different aspects of solidarity in the Greater Region, the border region with the highest number of cross-border workers in Europe. Solidarity as a European value has been put to the test - both between countries (e.g. through the 'theft' of key labour and border controls making cross-border mobility almost impossible) and between different groups of workers, such as teleworkers and non-teleworkers, as well as between cross-border commuters and non-cross-border commuters, who have been treated differently, for example through short-time working schemes (e.g. in the health sector). Thu, 14 Jul 2022 12:12:28 GMT http://hdl.handle.net/10993/51178 Title: Improving Business Value Assurance in Large-Scale IT Projects ? A Quantitative Method Based on Founded Requirements Assessment <br/> <br/>Author, co-author: Fridgen, Gilbert; Klier, Julian; Beer, Martina; Wolf, Thomas Fri, 03 Jun 2022 03:30:15 GMT http://hdl.handle.net/10993/51177 Title: Shifting Load through Space : the Economics of Spatial Demand Side Management Using Distributed Data Centers <br/> <br/>Author, co-author: Fridgen, Gilbert; Keller, Robert; Thimmel, Markus; Wederhake, Lars Fri, 03 Jun 2022 03:30:15 GMT http://hdl.handle.net/10993/51175 Title: Blockchain: Fundamentals, Applications and Potential <br/> <br/>Author, co-author: Schlatt, Vincent; Schweizer, André; Urbach, Nils; Fridgen, Gilbert Fri, 03 Jun 2022 03:30:14 GMT http://hdl.handle.net/10993/51176 Title: Flexible IT-platform to Synchronize Energy Demands with Volatile Markets <br/> <br/>Author, co-author: Bauer, Dennis; Abele, Eberhard; Ahrens, Raphael; Bauernhansl, Thomas; Fridgen, Gilbert; Jarke, Matthias; Keller, Fabian; Keller, Robert; Pullmann, Jaroslav; Reiners, René; Reinhart, Gunther; Schel, Daniel; Schöpf, Michael; Schraml, Philipp; Simon, Peter Fri, 03 Jun 2022 03:30:14 GMT http://hdl.handle.net/10993/51174 Title: Benefits Quantification in IT Projects <br/> <br/>Author, co-author: Beer, Martina; Fridgen, Gilbert; Müller, Hanna-Vera; Wolf, Thomas Fri, 03 Jun 2022 03:30:13 GMT http://hdl.handle.net/10993/51172 Title: Development of Disruptive Innovations with Blockchain: The Way to the Right Use Case <br/> <br/>Author, co-author: Fridgen, Gilbert; Radszuwill, Sven; Schweizer, Andr E; Urbach, Nils Fri, 03 Jun 2022 03:30:12 GMT