Publications of the Research Unit Pensions and Sustainable Financial Markets

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…

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…

• Unified Regulations for Systemically Important Financial Institutions Urgently Needed
• Intrinsic Work Motivation Determines the Acceptance of Pension Reforms
• Older Employees Are not less Productive, Even in the…

Exchange rates are one of the most important prices in open economies. Despite their great importance for many enterprises, surprisingly little is known about the economic factors influencing the ups and downs…

• Strong National Fiscal Rules Help Keeping Risk Premiums for Government Bonds at Lower Levels
• Video Games Contribute to Crime Rate Reduction
• Training of Older People Often less Effective
• Changes in the European…