-term sustainability. We argue that the latest reforms have moved pension provision in Germany in principle from a defined benefit to a …

boost TFP growth while external debt is actually negatively correlated with TFP growth. The negative relationship between … external debt liabilities and TFP growth is attenuated in economies with higher levels of financial development and better …

types of debt and financial assets held conditional on holding the different types of debt and assets. The analysis suggests … amounts of both debt (unsecured and secured) and assets (property and non-housing), even after conditioning on the probability …

We explore the relationship between gambling and other forms of risk-taking behaviour, i.e. exposure to debt and the …

The view is widespread that there are just two options for the future of the Eurozone – either it is complemented by a … in the centre of the current debate on fiscal union in the Eurozone. Second, we argue that the fiscal union will only …, decentralised responsibility for government debt and sovereign debt restructurings in the case of fiscal crises. …

European Union. Regression results are provided for Western Germany, France, and Italy. It is shown that labour mobility is … highest in Germany, followed by France, and Italy. However, even in Germany, the accommodation of a shock to unemployment by …

Do income disparities between men and women translate into longer term wealth disparities? We use the Survey of Income …