ZEW Discussion Papers

This paper analyses Greek fiscal sustainability. This topic lies in the core of all discussions about a potential exit of the country from the euro area, and - more in general - about the design and long-run…

In this chapter (written for the forthcoming "Handbook of CGE Modeling", edited by P. Dixon and D. Jorgenson), we review options of labour market modelling in the framework of numerical general equilibrium…

Though in an infancy state, the so-called social enterprise software is a highly promising software application for firms. This software links firms’ enterprise software systems and social software…

Since the seminal work of Franco Modigliani and Merton Miller in 1958, no generally accepted capital structure theory has emerged. Consequently this paper does not aim to validate any of the capital structure…

There is some controversy regarding the key sources of success in the private equity business model and on how this business model affects the portfolio companies. Does this success come from value creation or…

Theoretical arguments for the tax sensitivity of capital structures are convincing. Empirical findings instead have for years been rather weak. Even today, despite a surge of studies providing point estimates…

Regional economic prospects to some extent seem to hinge on the region’s human capital endowment and, thus, its ability to attract skilled labour. For any related policy, it is thus important to better…

No matter how well resourced, innovation efforts are prone to failure. This paper investigates how the allocation of resources to product innovation projects allows firms to cope with this challenge. We assume…

Trust is an essential ingredient of social life. But trust is not considered an essential ingredient in the models of selfish behavior on which modern economic theory is built. In the present study, we …