This article analyzes differences in naming between East and West Germany. After World War II, Germany was split by the allied forces. Two Germanies emerged: the Federal Republic of Germany (FRG) and the German Democratic Republic (GDR). The country's division lasted about forty years (1949-1989), a time span in which vastlydifferent geo-political frameworks - Eastern bloc versus Western bloc - shaped ...
This paper investigates the link between the optimal level of nonfinancial firms' short-term leverage and macroeconomic and idiosyncratic sources of uncertainty. We develop a structural model of a firm's value maximization problem that predicts a negative relationship between uncertainty and optimal levels of borrowing. This proposition is tested using a panel of nonfinancial U.S. firms drawn from ...
We study the labor supply effects of a change in child-subsidy policy designed to both increase fertility and shorten birth-related employment interruptions. The reform yields most of the intended effects.
The accumulation of the human capital stock plays a key role to explain the macroeconomic performance across regions. However, despite the strong theoretical support for this claim, empirical evidence has been not very convincing, probably because of the low quality of the data. This paper provides a robustness analysis of alternative measures of human capital available at the level of EU NUTS1 and ...
Complementing prior research on income mobility and educational transmission, we provide evidence on the intergenerational transmission of cognitive abilities using data from the German Socio-Economic Panel Study. Our estimates suggest that individuals' cognitive skills are positively related to the abilities of their parents, even when educational attainment and family background is controlled for. ...
Der vorliegende Beitrag untersucht auf Basis von Daten des Sozio-oekonomischen Panels für Deutschland (SOEP), inwieweit selbständige Ausländer in Deutschland überdurchschnittlich hohe Einkommen erzielen. Die Untersuchung zeigt, dass ausländische Selbständige insgesamt höhere Einkommen erzielen als angestellt tätige Ausländer und dass der Unterschied größer ist als bei Selbständigen deutscher Nationalität. ...
