This paper aims at analyzing the interaction between financial frictions and wages. We use a large data set for Germany for 2006 to 2014 that combines administrative data on workers and wages with detailed information on firms' balance sheets. Controlling for firm characteristics and time fixed effects, we find that higher leverage (as a measure for financial frictions) implies on average lower...
Deutsche Bundesbank – LOEWE Center Sustainable Architecture for Finance in Europe (SAFE) – The German Institute for Economic Research (DIW) – The Halle Institute for Economic Research (IWH) cordially invite to a joint conference: The recent Global Financial Crisis has highlighted the importance of financial cycles for macroeconomic and financial stability. While there is a...
We propose a novel, risk-based transmission mechanism for the effects of currency manipulation: policies that systematically induce a country's currency to appreciate in bad times lower its risk premium in international markets and, as a result, lower the country's risk-free interest rate and increase domestic capital accumulation and wages. Currency manipulations by large countries also have...
This year's SOEPcampus@University of Mannheim Workshop "Längsschnittdatenanalyse mit dem Sozio-oekonomischen Panel (SOEP)" will take place from June 24-26 (the workshop is held in German). Registration: Please use the registration form and/or contact Deborah Gottinger-Würtz soeporga@mail.uni-mannheim.de
Der Workshop wird von Prof. Dr. Thomas Gautschi in Zusammenarbeit mit der Längsschnittstudie „Sozio-oekonomisches Panel“/DIW Berlin veranstaltet und findet vom 24. bis zum 26. Juni 2019 an der Universität Mannheim, Seminargebäude A 5, 6, Gebäudeteil C, Raum C-108, Untergeschoss, statt. Die Veranstaltung richtet sich an fortgeschrittene Studierende, Doktoranden und Nachwuchswissenschaftler aus den...
