The superstar firms model provides a compelling explanation for two simultaneously occurring phenomena: the rise of concentration in industries and the fall of labor shares. Our empirical analysis confirms two of the underlying assumptions of the model: the market share increases and the labor share decreases with increasing firm-level total factor productivity, providing support for the superstar ...
Policymakers have implemented a wide range of non-pharmaceutical interventions to fight the spread of COVID-19. Variation in policies across jurisdictions and over time strongly suggests a difference-in-differences (DD) research design to estimate causal effects of counter-COVID measures. We discuss threats to the validity of these DD designs and make recommendations about how researchers can avoid ...
Die Corona-Pandemie löst eine verheerende Wirtschaftskrise aus, die auch am deutschen Arbeitsmarkt gravierende Spuren in Form von Kurzarbeit und Arbeitslosigkeit hinterlässt. Im Gegensatz zur Finanzkrise 2008/2009, in der Männer stärker vom Beschäftigungsrückgang betroffen waren, trifft es in der aktuellen Krise Wirtschaftssektoren wie das Gastgewerbe, in denen Frauen stärker repräsentiert sind. Außerdem ...
Die Corona-Pandemie löst eine verheerende Wirtschaftskrise aus, die auch am deutschen Arbeitsmarkt gravierende Spuren in Form von Kurzarbeit und Arbeitslosigkeit hinterlässt. Im Gegensatz zur Finanzkrise 2008/2009, in der Männer stärker vom Beschäftigungsrückgang betroffen waren, trifft es in der aktuellen Krise Wirtschaftssektoren wie das Gastgewerbe, in denen Frauen...
This paper analyzes the causal relationship between institutional diversity in domestic banking sectors and bank stability. We use a large bank- and country-level unbalanced panel data set covering the EU member states’ banking sectors between 1998 and 2014. Constructing two distinct indicators for measuring institutional diversity, we find that a high degree of institutional diversity in the domestic ...
Retired parents might invest time into their adult children by providing childcare. Such intergenerational time transfers can have important implications for family decisions. This paper estimates the effects of parental retirement on adult children’s fertility. We use representative panel data from Germany to link observations on parents and adult children. We exploit eligibility ages for early retirement ...
We study the impact of the business cycle on mental wellbeing by linking rich German survey data to over a decade of detailed gross domestic product information. Endogeneity concerns are tackled using a shift-share instrumental variables approach in which exposure to macroeconomic fluctuations is estimated from regional variations in historical industry sector composition. Estimation results reveal ...
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