Syndication, which is a joint realization of one project/one investment by several capital providers, is a long existing phenomenon that plays a central role in many financial market segments. Within this paper…
In this analysis, the informational content of central bank rhetoric is assessed based on the experience with the ECB since 1999. Among the ECB’s communication channels we focus on the monthly press conferences.…
Dieser Artikel beschäftigt sich mit den Unterschieden zwischen Geld- und Fiskalpolitik, die für die unterschiedliche institutionelle Ausgestaltung dieser beiden Bereiche der Wirtschaftspolitik in der…
We report empirical evidence from the first field experiments to be conducted in Germany with program and control groups between 1999 and 2002. The evaluated program called ”Targeted Negative Income Tax (TNIT)”…
In many econometric applications it is unclear from the very beginning whether a parametric functional of a continuous regressor should be specified as a linear, as a higher order polynomial or as a piecewise…
This paper investigates the relationship between the gender wage gap, the choice of training occupation, and occupational mobility. We use longitudinal data for young workers with apprenticeship training in West…
Under the world dollar standard, a discrete appreciation by a dollar creditor country of the United States, such as China or Japan, has no predictable effect on its trade surplus. Currency appreciation by the…
In contrast to earlier field studies, we survey German public savings banks on their management of capital. We find that the most important determinants of the savings banks’ target capital ratio are risk…
We compare two options of integrating discrete working time choice of heterogenous households into a general equilibrium model. The first, known from the literature, produces household heterogeneity through a…
The paper tests empirically the role of knowledge stocks to explain the regional distribution of Germany’s biotechnology founders. We present an unique approach to highlight the role of knowledge spillovers as…
The savings banks’ decision to distribute profits among their public owners is strongly regulated by law in order to guarantee their adequate funding via retained profits. However, the legal scope is reluctantly…
