In this paper the accuracy of a wide range of German business cycle forecasters is assessed for the past 10 years. For this purpose, a data set is used comprising forecasts published on a monthly basis by…
Contributions to Edited Volumes and Conference Proceedings
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2008
In its Annual Report 2003/2004, the Council of Economic Experts launched a dual income tax as an option for a fundamental tax reform in Germany. Appointed by the German government the Council prepared a detailed…
Motivated by substantial cross-sectional variation in banks’ leverage, which stands in contrast to the conventional wisdom that capital regulation is the main driver of banks’ capital structures, this paper…
The vitality and stability of our democracy - as well as the economy - eventually depend on the social permeability of our society. (Horst Köhler, German Federal President, 29.12.2007, own translation) This…
Uncertainty is intrinsic to research and development (R&D) and has a fundamental influence on the decision to invest in such activities. Real options theoretical models with irreversible investment are a…
Collective bargaining in Germany takes place either at the sectoral level or at the firm level; collective bargaining coverage is much higher than union density; and not all employees in a covered firm are…
