Germany and the United States are generally seen as the two competing systems of corporate governance. In search for a comparative welfare analysis of the financial systems, we are interested in (i) the aggregate value-added of corporate investments in the two countries and in (ii) the...

The impact of general and specific training on income and mobility is an important issue for the discussion around human capital as well as the design of educational systems. Using data from two retrospective life-history surveys this paper examines the impact of more general school-based...