ZEW Discussion Papers

This study examines reforms of public expenditure in industrialised countries over the past two decades. We distinguish ambitious and timid reformers and analyse in detail reform experiences in eight case…

The confidence that financial markets are able to discipline the debt behaviour of governments in the euro area is not very high. One possible reason could be that the European Central Bank accepts all European…

Theoretical considerations suggest that secrecy reduces spillovers almost completely through non-disclosure, while the disclosure requirement of patents generates some spillover and at the same time allows…

The confidence that financial markets are able to discipline the debt behaviour of governments is not very high. Therefore, the Stability and Growth Pact has been implemented as an institutional constraint to…

We study the performance of conditional asset pricing models in explaining the German cross-section of stock returns. Our test assets are portfolios sorted by size and book-to-market as in the paper by Fama and…

Empirical work on continuing training in Germany provides surprisingly divergent evidence on the incidence of training. This makes comparison of econometric analyses of the impact of training on labour market…

Based on new administrative data for Germany covering entrances into job creation schemes between July 2000 and May 2001, we evaluate the effects of this active labour market policy programme on the…

Determinants of a firm's export-sales ratio (degree of internationalisation) are frequently discussed in the literature related to individual firms' export activities. Stylised facts show a positive relationship…

This paper studies the relationship between employment and wage structures in West Germany based on the IAB employment subsample 1975-1997. It extends the analytical framework of Card and Lemieux (2001) which…