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Privatization and Deindustrialization in East Germany

Carlin, Wendy - C.E.P.R. Discussion Papers - 1993

The transition in East Germany has been characterized by an extremely rapid privatization of state-owned enterprises …-unification level. This paper argues that the government imposed an inconsistent policy toward employment on the privatization agency …, the Treuhand. Although required to take account of the shadow price of labour in the privatization negotiations (where …

Persistent link: https://www.econbiz.de/10005123788

Institutional Investors as Minority Shareholders: Do They Matter When Ownership Is Concentrated?

Hamdani, Assaf; Yafeh, Yishay - C.E.P.R. Discussion Papers - 2010

We shed new light on the corporate governance role of institutional investors in markets where concentrated ownership and business groups are prevalent. When companies have controlling shareholders, institutional investors, as minority shareholders, can play only a limited role in corporate...

Persistent link: https://www.econbiz.de/10008554240

Regulatory Sanctions and Reputational Damage in Financial Markets

Armour, John; Mayer, Colin; Polo, Andrea - C.E.P.R. Discussion Papers - 2010

We study the impact of the announcement of enforcement of financial and securities regulation by the UK’s Financial Services Authority and London Stock Exchange on the market price of penalized firms. Since these agencies do not announce enforcement until a penalty is levied, their actions...

Persistent link: https://www.econbiz.de/10008682887

The Market for Corporate Law

Bar-Gill, Oren; Barzuza, Michal; Bebchuk, Lucian Arye - C.E.P.R. Discussion Papers - 2002

This Paper develops a model of the competition among states in providing corporate law rules. The analysis provides a full characterization of the equilibrium in this market. Competition among states is shown to produce optimal rules with respect to issues that do not have a substantial effect...

Persistent link: https://www.econbiz.de/10005114390

Revenue-sharing Subsidies as Employment Policy: Reducing the Cost of Stimulating East German Employment

Snower, Dennis J. - C.E.P.R. Discussion Papers - 1993

This paper provides a brief overview of the East German employment problem and presents a simple model in which to evaluate two rival policy proposals: wage subsidies and revenue-sharing subsidies. Revenue-sharing subsidies have received little, if any, attention in the ongoing public debate on...

Persistent link: https://www.econbiz.de/10005124179

East Germany: The Economics of Kinship

von Hagen, Jürgen - C.E.P.R. Discussion Papers - 1995

the main elements of German union: monetary union, fiscal union, legal and administrative union, and rapid privatization …

Persistent link: https://www.econbiz.de/10005114416

A Tear in the Iron Curtain: The Impact of Western Television on Consumption Behavior

Bursztyn, Leonardo; Cantoni, Davide - C.E.P.R. Discussion Papers - 2012

This paper examines the impact of exposure to foreign media on the economic behavior of agents in a totalitarian regime. We study private consumption choices focusing on former East Germany, where differential access to Western television was determined by geographic features. Using data...

Persistent link: https://www.econbiz.de/10011084275

An Exercise in Futility: East German Economic Growth and Decline, 1945-89

Ritschl, Albrecht - C.E.P.R. Discussion Papers - 1994

This paper assembles and reviews data on growth performance for East Germany. Conclusions are only tentative, as data reliability is still poor. Examining factor growth and total factor productivity performance, the paper arrives at three main conclusions. First, large-scale dismantling of...

Persistent link: https://www.econbiz.de/10005792463

Factor Price Distortions and Public Subsidies in East Germany

Sinn, Hans-Werner - C.E.P.R. Discussion Papers - 1995

Economic development in East Germany is not uniform. The building and construction industry is booming but manufacturing industry is stagnating. The paper argues that severe distortions in relative factor prices are the cause of the dichotomous development. These distortions result from...

Persistent link: https://www.econbiz.de/10005791945

Regulation, Privatization, and Airport Charges: Panel Data Evidence from European Airports

Bilotkach, Volodymyr; Clougherty, Joseph A.; Mueller, … - C.E.P.R. Discussion Papers - 2011

privatization on airport charges in a panel data setting where fixed effects can be employed to mitigate endogeneity concerns. Our …

Persistent link: https://www.econbiz.de/10009351519

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