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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, Hashem; Xu, TengTeng - Institute for the Study of Labor (IZA) - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...
Persistent link: https://www.econbiz.de/10009325438
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Severance Pay and Corporate Finance: Empirical Evidence from a Panel of Austrian and Italian Firms
Cardinale, Mirko; Orszag, Mike - Institute for the Study of Labor (IZA) - 2004
This paper examines the empirical link between severance pay and corporate finance. Severance pay is an economic debt of the employer and hence should be taken into account by the market in its assessments of risk. Using a hand collected dataset of accounting data from Italy and Austria we find...
Persistent link: https://www.econbiz.de/10005822359
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Learning to Take Risks? The Effect of Education on Risk-Taking in Financial Markets
Black, Sandra E.; Devereux, Paul J.; Lundborg, Petter; … - Institute for the Study of Labor (IZA) - 2015
We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people are more likely to invest in the stock market....
Persistent link: https://www.econbiz.de/10011206862
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The Determinants of Foreign Direct Investment Flows to the Federal Region of Kurdistan
Heshmati, Almas; Davis, Rhona - Institute for the Study of Labor (IZA) - 2007
The flow of foreign direct investment (FDI) has increased dramatically in the last two decades. However, the distribution of FDI is highly unequal and the competition among countries to attract foreign investors is fierce. This report investigates the determinants of FDI inflows to developing...
Persistent link: https://www.econbiz.de/10005762073
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Taking a Second Chance: Entrepreneurial Restarters in Germany
Wagner, Joachim - Institute for the Study of Labor (IZA) - 2002
Folklore has it that the comparatively low proportion of self-employed in Germany is in part due to a habit that might …
Persistent link: https://www.econbiz.de/10005822063
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How Rigid are Nominal Wages? Evidence and Implications for Germany
Knoppik, Christoph; Beissinger, Thomas - Institute for the Study of Labor (IZA) - 2001
Many of the recent attempts to find evidence of downward nominal wage rigidity in micro data have suffered from a number of problems, including composition bias and the effects of measurement error. In order to avoid these problems we explicitly model the determinants of wage changes and the...
Persistent link: https://www.econbiz.de/10005822114
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The Persistent Decline in Unionization in Western and Eastern Germany, 1980-2004: What Can We Learn from a Decomposition Analysis?
Schnabel, Claus; Wagner, Joachim - Institute for the Study of Labor (IZA) - 2006
western Germany from 1980 to 2004 and in eastern Germany from 1992 to 2004. Such a negative trend can be observed for men and … worker (significant in western Germany only). A decomposition analysis shows that differences in union density over time and … between eastern and western Germany to a large degree cannot be explained by differences in the characteristics of employees …
Persistent link: https://www.econbiz.de/10005822128
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Dismissal Protection and Worker Flows in Small Establishments
Bauer, Thomas K.; Bender, Stefan; Bonin, Holger - Institute for the Study of Labor (IZA) - 2004
Based on a large employer-employee matched data set, the paper investigates the effects of variable enforcement of German dismissal protection legislation on the employment dynamics in small establishments. Specifically, using a difference-in-differences approach, we study the effect of changes...
Persistent link: https://www.econbiz.de/10005822158
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Do Works Councils Inhibit Investment?
Addison, John T.; Schank, Thorsten; Schnabel, Claus; … - Institute for the Study of Labor (IZA) - 2005
context of Germany where the works council is the analogue of workplace unionism. Using parametric and nonparametric methods …
Persistent link: https://www.econbiz.de/10005822189
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Norm-Based Trade Union Membership: Evidence for Germany
Goerke, Laszlo; Pannenberg, Markus - Institute for the Study of Labor (IZA) - 2003
for social custom effects in the determination of union membership. Using panel data for Germany, we find evidence for …
Persistent link: https://www.econbiz.de/10005822193