ZEW Discussion Papers

The performance of young and newly founded firms depends largely to the human capital of the firm owner. The entrepreneur is therefore one of the main success factors for the firm. Yet entrepreneurs differ…

Subsidising research networks has become a popular instrument in technology policies, driven mainly by expected positive spillovers. In particular, the stimulation of R&D co-operation between scientific…

Die vorliegende Arbeit untersucht die relative Wirksamkeit von Vermittlungsgutscheinen und Beauftragungen Dritter mit der gesamten Vermittlung im direkten Vergleich. Die Untersuchung basiert auf den Prozessdaten…

For creditor countries on the periphery of the dollar standard such as China with current account surpluses, foreign mercantile pressure to appreciate their currencies and become more flexible is misplaced.…

On the basis of a theoretical model, we argue that higher aggregate unemployment affects individual returns to education. We therefore include aggregate unemployment and an interaction term between unemployment…

We estimate the effects of R&D on firms' credit ratings and on financial distress. The main purpose is the comparison of firms in Western Germany and Eastern Germany as a transitional economy. Innovative…

Überarbeitete Version, ursprünglicher Titel: Consumption-Based Asset Pricing with a Reference Level: New Evidence from the Cross-Section of Stock Returns

This paper presents an empirical evaluation of…

Using register data from the IAB employment sample, this paper studies the wage structure in the German labor market throughout the years 1992{2001. Wage dispersion has generally been rising. The increase was…

In the tax policy debate, differentiation of value-added taxes is often justified by distributional concerns. Our quantitative analysis for Germany indicates that such concerns are misplaced. We find that the…