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Discussions of financial risk often fail to distinguish between risks that are consciously borne and those that are not. To understand the breeding conditions for financial crises the prime focus of concern should not be simply on large risk-taking per se, but on the unintended, or unanticipated...
Persistent link: https://www.econbiz.de/10012468892
This paper develops and tests the hypothesis that accounting rules mitigate the effect of tax policy on firm investment decisions by obscuring the timing of tax payments. I model a firm that maximizes a discounted weighted average of after-tax cash flows and accounting profits. I estimate the...
Persistent link: https://www.econbiz.de/10012460189
study a reform in Germany that abruptly abolished this mandate for certain firms incorporated after August 1994 but locked …
Persistent link: https://www.econbiz.de/10012480463
predicts that the portability reform will increase internal plan switching. However, under plausible assumptions, it will not … increase external insurer switching. Moreover, the portability reform will enable unhealthier enrollees to reoptimize their …
Persistent link: https://www.econbiz.de/10012455213
We study a fundamental reform of the public Disability Insurance (DI) system in Germany. Effective 2001, cohorts born … rules require work disability in any job. Using administrative data, we first show that the reform significantly reduced the …
Persistent link: https://www.econbiz.de/10013477304
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Over the last twenty years the wage-education relationships in the US and Germany have evolved very differently, while … files from the PSID (US) and the GSOEP (Germany), we demonstrate how factor movements within these countries are associated … capital over the 1979-96 period, while Germany accumulated factors in a more balanced manner …
Persistent link: https://www.econbiz.de/10012471064
-wage services in the US and Germany. We find a clear low-wage service jobs deficit' in Germany but this is not due to excessively …
Persistent link: https://www.econbiz.de/10012471159