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Können die Beamten die Rentenversicherung retten?Oliver HoltemöllerWirtschaftsWoche, 12. Mai 2025
This paper extends the classic risk-return tradeoff of asset pricing to a risk-effort tradeoff, by assuming that managerial effort is necessary to generate cash flows. Corporate governance standards influence the manager's return to effort, her exposure to corporate risk, and the dilution of shareholder value.
Previous work has shown that, in a liquidity trap, aggressive government spending cuts can be self-defeating in the short-run due to a higher-than-normal multiplier.
We show that temporary place-based subsidies generate persistent effects on economic density. As our design allows us to control for agglomeration economies, we attribute an important role to policy-induced locational advantage (e. g. capital structures) in explaining persistent spatial patterns of economic activity.
The Department of Structural Change and Productivity at the Halle Institute for Economic Research (IWH) - Member of the Leibniz Association is hosting a workshop on Entrepreneurship and the Labour Market to be held in Halle (Saale) on April 22-23, 2016.
In a meta-analysis of 115 experimental impact evaluations, we find that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy.
Der Aufschwung in Deutschland und im Euro-Raum setzt sich fort. Für Deutschland rechnet der Sachverständigenrat mit Zuwachsraten des realen Bruttoinlands-produkts von 1,9% im Jahr 2016 und 1,3% im Jahr 2017.
We show that occasional deviations from efficient wage-setting generate strong and statedependent amplication of exogenous uncertainty shocks and contribute to explain the observed countercyclicality of empirical measures of aggregate uncertainty.
We analyse whether the increase in trade exposure induced by the rise of China and the transformation of Eastern Europe has been a driver of the severe decline in collective bargaining coverage rates among German establishments from the mid 1990s onwards, which has been identified as a major source of rising wage inequality in Germany.
Using unique firm-level data across 48 developing countries and 36 manufacturing industries, we gauge the importance of international banks’ presence for promoting entrepreneurship, as measured by business formation.
This paper considers effects of local public finances on land use. A theoretical analysis explores the trade off faced by a local government deciding about the amount of land made available for commercial use.
