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'By a Silken Thread': Regional Banking Integration and Pathways to Financial Development in Japan's Great Recession

Hoffmann, Mathias; Okubo, Toshihiro - CESifo - 2013

How do financial development and financial integration interact? We focus on Japan’s Great Recession after 1990 to study this question. Regional differences in banking integration affected how the recession spread across the country: financing frictions for credit-dependent firms were more...

Persistent link: https://www.econbiz.de/10010607005

Minimum Wages and their Alternatives: A Critical Assessment

Knabe, Andreas; Schöb, Ronnie - CESifo - 2008

in Germany, on employment, wage inequality, public expenditures, and incomes of poor households: 1) a statutory minimum … subsidies, the government can ensure more favorable employment and income effects. Combining a minimum wage with a wage subsidy …

Persistent link: https://www.econbiz.de/10005094296

Asymmetric Information Renders Minimum Wages Less Harmful

Schöb, Ronnie; Thum, Marcel - CESifo - 2009

We show that a minimum wage introduced in the presence of asymmetric information about worker productivities will lead to lower unemployment levels than predicted by the standard labour market model with heterogeneous labour and symmetric information.

Persistent link: https://www.econbiz.de/10005000388

Welfare Policy in the Presence of Unionised Labour and Internationally Mobile Firms

Rocha-Akis, Silvia; Schöb, Ronnie - CESifo - 2010

In oligopolistic industries, increased cost saving opportunities via offshoring have a moderating effect on trade unions. In order to discourage mobile firms from leaving the country, unions accept lower sector wages. In effect, the negotiated wage becomes independent of workers’ bargaining...

Persistent link: https://www.econbiz.de/10008534009

Minimum Wage Incidence: The Case for Germany

Knabe, Andreas; Schöb, Ronnie - CESifo - 2008

affects employment, wage inequality, public expenditures, and aggregate income in the low-wage sector. It is shown that a … employment – depending on the subsidies’ incidence – and income effects. Wage subsidies also allow a more equal income …

Persistent link: https://www.econbiz.de/10005765743

Consumption, Wealth and Business Cycles in Germany

Hamburg, Britta; Hoffmann, Mathias; Keller, Joachim - CESifo - 2005

This paper studies the long-run relationship between consumption, asset wealth and income in Germany, based on data from 1980 to 2003. While earlier studies — mostly for the Anglo-Saxon economies — have generally documented that departures of these three variables from their common trend...

Persistent link: https://www.econbiz.de/10005765943

Holes in the Dike: The Global Savings Glut, U.S. House Prices and the Long Shadow of Banking Deregulation

Hoffmann, Mathias; Stewen, Iryna - CESifo - 2015

We explore empirically how capital inflows into the US and financial deregulation within the United States interacted in driving the run-up (and subsequent decline) in US housing prices over the period 1990-2012. To obtain an ex ante measure of financial liberalization, we focus on the history...

Persistent link: https://www.econbiz.de/10011272618

Outsourcing of Unionized Firms and the Impacts of Labour Market Policy Reforms

Koskela, Erkki; Schöb, Ronnie - CESifo - 2008

the share of the outsourced workforce is not too large, this wage-moderation effect on domestic employment outweighs the … direct substitution effect so that domestic employment increases in unionized firms as outsourcing costs fall. This does not … for employment. However, except for low outsourcingactivities, the impact of these policy measures will become smaller as …

Persistent link: https://www.econbiz.de/10005181655