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Does expenditure composition influence the debt level? Evidence from German federal states

Stegarescu, Dan - Deutsche Bundesbank - 2013

Despite strongly equalized per capita revenue and similar budgetary institutions, fiscal performance is increasingly diverging across German federal states. Given that state and local governments are endowed with expenditure autonomy, this paper investigates whether the composition of...

Persistent link: https://www.econbiz.de/10010957112

Rapid demographic change and the allocation of public education resources: Evidence from East Germany

Kempkes, Gerhard - Deutsche Bundesbank - 2010

We analyse the adjustment of public education spending in response to rapidly decreasing student cohorts in East Germany where birth rates collapsed after German reunification. Previous results from the literature based on data from more stable demographic periods suggest that public resources...

Persistent link: https://www.econbiz.de/10008534149

Modelling and measuring business risk and the resiliency of retail banks

Chaffai, Mohamed; Dietsch, Michel - Deutsche Bundesbank - 2013

changes in banks' profits coming from sudden changes in the banks' activities. This methodology is based on the efficiency … efficiency frontier induced by adverse shocks to banks' volumes serve as a measure of business risk. This measure of profit …

Persistent link: https://www.econbiz.de/10010957105

The cost efficiency of German banks: a comparison of SFA and DEA

Koetter, Michael; Karmann, Alexander; Fiorentino, Elisabetta - Deutsche Bundesbank - 2006

We investigate the consistency of efficiency scores derived with two competing frontier methods in the financial … banks and analyze whether efficiency measures yield consistent results according to five criteria between 1993 and 2004 … important to avoid misinterpretation about the status of efficiency of the total banking sector. Finally, despite ongoing …

Persistent link: https://www.econbiz.de/10005082752

The effects of privatization and consolidation on bank productivity: comparative evidence from Italy and Germany

Fiorentino, Elisabetta; Vincenzo, Alessio De; Heid, Frank; … - Deutsche Bundesbank - 2009

activities have affected banks' productivity in the period 1994-2004, differentiating between technical change, efficiency change …

Persistent link: https://www.econbiz.de/10005082778

Stochastic frontier analysis by means of maximum likelihood and the method of moments

Behr, Andreas; Tente, Sebastian - Deutsche Bundesbank - 2008

individual efficiency scores. The basic idea lies in the introduction of an additive error term consisting of a noise and an … a sample of German commercial banks based on the Bankscope database for estimation of cost efficiency scores. …

Persistent link: https://www.econbiz.de/10005082812

Dynamic Q-investment functions for Germany using panel balance sheet data and a new algorithm for the capital stock at replacement values

Bellgardt, Egon; Behr, Andreas - Deutsche Bundesbank - 2002

The paper explores the investment behaviour of German firms in the context of the Qapproach, which plays a dominant role in empirical investment research. The analysis is based on the Deutsche Bundesbank's corporate balance sheet statistics. The panel data set contains some 2,300 German firms'...

Persistent link: https://www.econbiz.de/10005083058

Exploring the role of uncertainty for corporate investment decisions in Germany

von Kalckreuth, Ulf - Deutsche Bundesbank - 2000

The impact of uncertainty on firms? investment outlays is subject to an ongoing debate. Theory identifies several channels. Irreversibility, financing constraints and risk aversion make a negative relationship between uncertainty and investment likely. On the other hand, the ability of firms to...

Persistent link: https://www.econbiz.de/10005083086

Exports versus FDI in German manufacturing: firm performance and participation in international markets

Arnold, Jens Matthias; Hussinger, Katrin - Deutsche Bundesbank - 2006

This paper tests some of the predictions of recent advances in trade theory that have focused on different trade patterns of firms within the same sector. Helpman, Melitz and Yeaple (2005) develop a model in which innate productivity differences between firms determine the degree of...

Persistent link: https://www.econbiz.de/10005083169

The Economic Impact of Venture Capital

van Pottelsberghe de la Potterie, Bruno; Romain, Astrid - Deutsche Bundesbank - 2004

This paper attempts to evaluate the macroeconomic impact of venture capital (VC). We test the assumption that VC is similar in several respects to business R&D performed by large firms and therefore contributes to economic growth through two main channels: innovation and absorptive capacity. The...

Persistent link: https://www.econbiz.de/10005083275