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Germany allows to show that deepening capital may enhance TFP growth if capital is scarce. We also show that there is less …
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Using a large panel data set we investigate whether works councils act as a sand or grease in the operation of German firms. Stochastic production frontier analysis indicates that establishments with and without a works council do not exhibit significant differences in efficiency
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Germany, our results are consistent with moral hazard due to the generous design of the welfare program, while in Japan, our …
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