Similar Search Results

Modeling fiscal sustainability in dynamic macro-panels with heterogeneous effects : evidence from German federal states

Feld, Lars P.; Köhler, Ekkehard A.; Wolfinger, Julia - 2018

In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...

Persistent link: https://www.econbiz.de/10011822075

The German productivity paradox : facts and explanations

Elstner, Steffen; Feld, Lars P.; Schmidt, Christoph M. - 2018

Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth. This paper analyzes the reasons behind this disconcerting development. A major factor is the turnaround of the labor market that commenced around 2005. The successful...

Persistent link: https://www.econbiz.de/10011900858

Margins of international banking : is there a productivity Pecking order in banking, too?

Buch, Claudia M.; Koch, Cathérine Tahmee; Kötter, Michael - 2009

Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel dataset that contains all German banks'...

Persistent link: https://www.econbiz.de/10003923511

Sustainability of German fiscal policy and public debt : historical and time series evidence for the period 1850-2010

Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2013

default. Due to a multitude of large scale events in its past, Germany is far from being an exception: In fact, Germany … Germany's public finances against the standard theoretical background using a unique database, retrieved from multiple sources … historical perception of Germany as the poster child of European public finance. Given these corresponding breaks in time series …

Persistent link: https://www.econbiz.de/10009709423

Panel cointegration tests on the fiscal sustainability of German Laender

Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2014

newly compiled database covering the years 1950 - 2011. Unlike previous studies on Germany, we analyze fiscal sustainability …

Persistent link: https://www.econbiz.de/10010388585

Fiscal sustainability of the German Laender : time series evidence

Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2014

Germany using an unprecedentedly comprehensive fiscal dataset for the time period from 1950 to 2011 for West German Laender …

Persistent link: https://www.econbiz.de/10010388609

Do better capitalized banks lend less? : long-run panel evidence from Germany

Buch, Claudia M.; Prieto, Esteban - 2012

Insufficient capital buffers of banks have been identified as one main cause for the large systemic effects of the recent financial crisis. Although higher capital is no panacea, it yet features prominently in proposals for regulatory reform. But how do increased capital requirements affect...

Persistent link: https://www.econbiz.de/10009570042

Unit Labor Cost Growth Differentials in the Euro Area, Germany, and the US: Lessons from PANIC and Cluster Analysis

Fritsche, Ulrich; Kuzin, Vladimir N. - 2007

Inflation differentials in the Euro area are mainly due to a sustained divergence of wage developments across the Euro area, and narrower differences in labour productivity growth (Alvarez et al., 2006). We investigate convergence of inflation using unit labour cost (ULC) growth and applying...

Persistent link: https://www.econbiz.de/10010260899

Barriers to internationalization: Firm-level evidence from Germany

Arndt, Christian; Buch, Claudia M.; Mattes, Anselm - 2009

Exporters and multinationals are larger and more productive than their domestic counterparts. In addition to productivity, financial constraints and labor market constraints might constitute barriers to entry into foreign markets. We present new empirical evidence on the extensive and intensive...

Persistent link: https://www.econbiz.de/10010271900

Asymmetric monetary policy effects in Germany

Tober, Silke; Kuzin, Vladimir N. - 2004

In a small structural model we find asymmetries in the effects of monetary policy in Germany depending on whether the …

Persistent link: https://www.econbiz.de/10010274488