Firms with superior productivity, labeled superstar firms, are argued to be the link between rising concentration and the fall of the aggregate labor share in the US. This analysis confirms that similar evidence is found within the European context: the market share and firm size increase, whereas the labor share decreases with productivity. One of the much discussed mechanisms behind this development ...
Understanding the causes of the slowdown in aggregate productivity growth is key to maintaining the competitiveness of advanced economies and ensuring long-term economic prosperity. This paper is the first to provide evidence that investment in intangible capital, despite having a positive effect on productivity at the micro level, is a driver of the weak productivity performance at the aggregate level ...
We extend standard models of work-related training by explicitly incorporating workers’ locus of control into the investment decision through the returns they expect. Our model predicts that higher internal control results in increased take-up of general, but not specific, training. This prediction is empirically validated using data from the German Socioeconomic Panel (SOEP). We provide empirical ...
Dieser Text erschien am 22.2.21 als Gastbeitrag im Handelsblatt. In der Coronakrise stützt der Staat die Wirtschaft mit Milliardenbeträgen. Doch die Politik muss nun langsam eine Entzugsstrategie entwerfen, fordert Marcel Fratzscher. Kaum ein Staat der Welt hat in dieser Corona-Pandemie größere Wirtschaftshilfen bereitgestellt als Deutschland. Bald könnten Bund und Länder ...
The Collaborative Research Center Transregio “Rationality and Competition” combines the research programs of behavioral and neoclassical economists to study applied economic questions that are of high policy relevance. The focus CRC TRR 190 is on the economic behavior and performance of individuals and firms: How do systematic biases in expectations, decision processes, and preferences affect the...
After arriving in a new country, refugees are most often dependent on professional support to reestablish their livelihood. It is however well documented that refugees face barriers when seeking access to services aimed at facilitating their settlement and integration. This study examines refugees’ support service needs and their actual utilization and investigates the impact of social and human capital ...