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...
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
The DIW Berlin and the OECD Berlin Centre cordially invite you to the Berlin Lunchtime Meeting. In China the strengthening of market mechanisms hoped for by western businesses is making only slow progress. Instead the state and the Communist Party are expanding their influence in the economy. This has consequences for China's economic policy. In the past decades this has led to growing...
