1. Refereed Journal // 2016

    Ecological Sufficiency, Individual Liberties, and Distributive Justice: Implications for Policy Making

    We investigate the prospects of voluntary ecological sufficiency for environmental and climate policy under the constraints implied by political liberalism. We find that freedom of choice restricts sufficiency…

  2. Discussion and Working Paper // 2016

    The long-Run effect of fiscal consolidation on economic growth: Evidence from quantitative case studies

    We contribute to the literature on the long-run effect of fiscal consolidation on economic growth by applying a novel method for quantitative case studies. Relying on a qualitative (narrative) definition of…

  3. ZEW Discussion Paper No. 16-019 // 2016

    Lender of Last Resort versus Buyer of Last Resort – The Impact of the European Central Bank Actions on the Bank-Sovereign Nexus

    In summer 2011, elevated sovereign risk in Eurozone peripheral countries increased the solvency risk of Eurozone banks, precipitating a run on their short-term debt. We assess the effectiveness of different…

  4. ZEW Discussion Paper No. 16-018 // 2016

    Mind the Gap: The Difference Between U.S. and European Loan Rates

    We analyze differences in the pricing of syndicated loans between U.S. and European loans. For credit lines, U.S. borrowers pay significantly higher spreads, but also lower fees, resulting in similar total costs…

  5. ZEW Discussion Paper No. 16-017 // 2016

    The Total Costs of Corporate Borrowing in the Loan Market: Don’t Ignore the Fees

    More than 80% of US syndicated loans contain at least one fee type and contracts typically specify a menu of spread and different types of fees. We test the predictions of existing theories about the main…

  6. ZEW Discussion Paper No. 16-016 // 2016

    Quasi-Experimental Evidence on the Effects of Mother Tongue-Based Education on Reading Skills and Early Labour Market Outcomes

    Prior to the introduction of mother tongue based education in 1994, the language of instruction for most subjects in Ethiopia's primary schools was the official language (Amharic) - the mother tongue of only one…

  7. JUNGE UNTERNEHMEN // 2016

    Jahrgang 16, Nr. 4, März 2016

    • Technologiewandel im Verarbeitenden Gewerbe ist durch Schließungen geprägt
    • Nebenerwerbsgründungen als Chance für neue Produkte
    • Innovationen in jungen Unternehmen
  8. Refereed Journal // 2016

    Drivers of Suspicious Transaction Reporting Levels: Evidence from a Legal and Economic Perspective

    Suspicious transaction reporting (STR) is a cornerstone of the international Anti-Money Laundering/Combatting the Financing of Terrorism (AML/CFT) framework. The evaluation of AML/CFT regimes is challenging,…

  9. ZEW Discussion Paper No. 16-015 // 2016

    Corporate Taxation and Location of Intangible Assets: Patents vs. Trademarks

    Numerous empirical studies have analysed the influence of corporate taxation on the location of intangible assets within a company group. However, the previous literature has rather focused on studying the…