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Learning Capitalism the Hard Way--Evidence from German Reunification
Triebs, Thomas P. - 2013
We develop a model of firm learning in volatile markets with noisy signals and test its predictions using historical data from the Ifo Institute's Business Climate Survey. We find that firms' forecasts improve as they age. We also exploit German Reunification as a natural experiment where firms...
Persistent link: https://www.econbiz.de/10012459454
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The Fiscal Burden of Korean Reunification : A Generational Accounting Approach
Auerbach, Alan J. - 2004
This paper uses Generational Accounting to assess the fiscal impacts of Korean reunification. Our findings suggest that early reunification will result in a large increase in the fiscal burden for most current and future generations of South Koreans. The Korean reunification's fiscal impact...
Persistent link: https://www.econbiz.de/10012467998
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International Implications of German Unification
Sinn, Hans-Werner - 1996
This paper advances the hypothesis that the EUS crisis was caused by German unification. The unification has implied a massive resource demand which parallels the US resource demand following Reagan's tax reforms in the eighties. The resource demand revised the German interest rates relative to...
Persistent link: https://www.econbiz.de/10012472989
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Macroeconomic Aspects of German Unification
Sinn, Hans-Werner - 1991
The paper comments on the economic effects of the German unification. Apart from discussing the unification in an international perspective, analyzing the distributional consequences, and pointing to structural adjustment problems, it emphasizes the distinction between the frequently cited money...
Persistent link: https://www.econbiz.de/10012475424
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The Economics of Density : Evidence from the Berlin Wall
Ahlfeldt, Gabriel M. - 2014
This paper develops a quantitative model of internal city structure that features agglomeration and dispersion forces and an arbitrary number of heterogeneous city blocks. The model remains tractable and amenable to empirical analysis because of stochastic shocks to commuting decisions, which...
Persistent link: https://www.econbiz.de/10012458313
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Consolidating the Evidence on Income Mobility in the Western States of Germany and the U.S. from 1984-2006
Bayaz-Ozturk, Gulgun - 2012
economic mobility. Using standard measures of mobility (with panel data for the western states of Germany and the U.S.) over … the entire period 1984-2006, we find the conventional result that income mobility is greater in Germany. But when we cut … significantly over the years immediately following reunification in Germany but not in the U.S …
Persistent link: https://www.econbiz.de/10012460042
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The Economic Impact of Social Ties : Evidence from German Reunification
Burchardi, Konrad B. - 2011
to East Germany in 1989 experience a persistent rise in their personal incomes after the fall of the Berlin Wall … within a given West German region invest in East Germany. As a result, West German regions which (for idiosyncratic reasons … capita in the early 1990s. A one standard deviation rise in the share of households with social ties to East Germany in 1989 …
Persistent link: https://www.econbiz.de/10012461472
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COVID-19 and SME Failures
Gourinchas, Pierre-Olivier - 2020
We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after...
Persistent link: https://www.econbiz.de/10012481180
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Sources of Corporate Financing and Economic Crisis in Korea : A Micro-evidence
Lim, Youngjae - 2003
Using the firm-level data set, the paper attempts to examine the dynamic patterns in the allocation of credit across firms in recent Korea. In particular, the paper examines the dynamic patterns in the allocation of credit across large and small firms before and after the crisis. The data...
Persistent link: https://www.econbiz.de/10012469124
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Ending "Too Big To Fail" : Government Promises vs. Investor Perceptions
Gormley, Todd A. - 2011
Can a government credibly promise not to bailout firms whose failure would have major negative systemic consequences? Our analysis of Korea's 1997-99 crisis, suggests an answer: No. Despite a general "no bailout" policy during the crisis, the largest Korean corporate groups (chaebol) - facing...
Persistent link: https://www.econbiz.de/10012461139