ZEW Discussion Papers

The establishment of a sovereign debt restructuring mechanism (SDRM) is one of the important issues in the academic debate on a viable constitution for the European Monetary Union (EMU). Yet the topic seems to…

The literature on wage bargaining so far mainly argues that unemployment benefits are relevant outside options for employees. This paper demonstrates that also a change in outside wage options drives wages in…

This paper studies the effects of the high-speed internet expansion on the match quality of new hires. They combine data on internet availability at the local level with German individual register and vacancy…

The authors investigate the impact of industry engagement on the direction of academic science. They apply the framework of the research agenda to assess to which extent industry engagement shifts the costs and…

Using a unique survey dataset, I study how financial market experts form their stock market expectations. I document a strong disagreement among experts about how important macroeconomic and financial variables…

The authors study optimal auctions in a symmetric private values setting, where bidders’ care about winning the object and a receiver’s inference about their type. They reestablish revenue equivalence when…

The emergence of online labor markets calls the validity of traditional career models into question. Given the volatility and digital nature of this environment, short-term employment relationships and…

When consuming goods provided by public utilities, such as telecommunication, water, gas or electricity, the predominant payment scheme is pay-later billing. This paper identifies one potential consequence of…

We study the cyclicality of public R&D in 28 OECD countries (1995 – 2017). While procyclical on average, public R&D reacts asymmetrically over different phases of the business cycle and becomes acyclical during…