In the literature on privatisation and restructuring it is a generally held belief that manager owned firms will be restructured more rigorously than worker owned companies. This gives the clear recommendation that property rights and control rights should be allocated to managers in the process of (insider-) privatisation. One of the implied arguments is, that managers' career concerns will make them ...
Among the majority of high-income OECD countries, the degree of fiscal decentralisation has converged over the last 30 years towards an intermediate level. The theoretical arguments for and against fiscal decentralisation point to explanations for this tendency, because both extreme decentralisation and extreme centralisation are associated with disadvantages for economic growth. Hence, the observed ...
The positive effects of Early Childhood Programs (ECP's) on children's school success have been demonstrated in the literature. However, most studies were completed in the U.S.A., where ECP's vary widely, based on differing auspice, regulation, cost, and other factors. In European countries, ECP's are generally far more homogenous. This is particularly true for Germany where most programs are community-based ...
A first systematic, model-based analysis of the environmental fiscal reform in Germany is undertaken with an econometric model and an empirical general equilibrium model. It indicates moderate but slightly positive effects on employment, energy consumption and CO2 emissions. The influence on economic growth is very low; employment is growing slightly, while energy consumption and CO2 emissions are ...
