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The Effect of Investment in Children's Education on Fertility in 1816 Prussia
Becker, Sascha O. - 2010
The interaction between investment in children's education and parental fertility is crucial in recent theories of the … significant negative causal effect of education on fertility, which is robust to accounting for spatial autocorrelation. The …
Persistent link: https://www.econbiz.de/10013135779
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Parental Leave, (In)Formal Childcare and Long-Term Child Outcomes
Danzer, Natalia - 2017
's counterfactual work behavior. We show that extending parental leave has significant positive effects on children's health and human …
Persistent link: https://www.econbiz.de/10012953697
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What Explains Fertility? Evidence from Italian Pension Reforms
Billari, Francesco C.; Galasso, Vincenzo - 2021
Why do people have kids in developed societies? We propose an empirical test of two alternative theories - children as … predicts lower future pensions to reduce fertility, while the 'old-age security' to increase it. Our empirical analysis … identifies a clear and robust positive effect of less generous future pensions on post-reform fertility. These findings are …
Persistent link: https://www.econbiz.de/10013316377
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On Estimating the Size of the Shadow Economy
Kirchgässner, Gebhard - 2016
As long as it is employed cautiously enough, the model approach is a useful tool to estimate simultaneously the size and the development of the shadow economy in several countries. However, a second method is necessary to calibrate the model. The currency demand approach can lead to highly...
Persistent link: https://www.econbiz.de/10012996803
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Outside Versus Inside Bonds : A Modigliani-Miller Type Result for Liquidity Constrained Economies
Berentsen, Aleksander - 2010
When agents are liquidity constrained, two options exist - sell assets or borrow. We compare the allocations arising in two economies: in one, agents can sell government (outside) bonds and in the other they can borrow by issuing (inside) bonds. All transactions are voluntary, implying no...
Persistent link: https://www.econbiz.de/10013135267
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Mitigating Liquidity Constraints : Public Export Credit Guarantees in Germany
Felbermayr, Gabriel J. - 2012
Reportedly, firms often find it impossible to finance large and long-term projects despite positive net present values. Should governments step in and can their assistance be effective? This paper studies the case of public export credit guarantees in Germany. Covering the default risk of...
Persistent link: https://www.econbiz.de/10013101318
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Liquidity Constraints, Household Wealth, and Entrepreneurship Revisited
Fairlie, Robert W. - 2012
A large body research shows a positive relationship between wealth and entrepreneurship and interprets the relationship as providing evidence of liquidity constraints. Recently, however, the liquidity constraint interpretation has been challenged because of the finding that the relationship...
Persistent link: https://www.econbiz.de/10013107520
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Second-Best Income Taxation with Endogenous Human Capital and Borrowing Constraints
Jacobs, Bas - 2013
We formulate a two-period life-cycle model of saving, labor supply, and human capital investments when individuals differ in ability and initial wealth. Borrowing constraints prevent individuals to optimally smooth consumption over the life-cycle and to optimally invest in human capital. We show...
Persistent link: https://www.econbiz.de/10013084907
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The Role of the Corporate Income Tax as an Automatic Stabilizer
Buettner, Thiess - 2009
This paper analyses the effectiveness of the corporate income tax as an automatic stabilizer. It employs a unique firm-level dataset of German manufacturers combining financial statements with firm-specific information about credit market restrictions. The results show that approximately 20 per...
Persistent link: https://www.econbiz.de/10013156033
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Financial Constraints and Nominal Price Rigidities
Balleer, Almut - 2017
This paper investigates how financial market imperfections and the frequency of price adjustment interact. Based on new firm-level evidence for Germany, we document that financially constrained firms adjust prices more often than their unconstrained counterparts, both upwards and downwards. We...
Persistent link: https://www.econbiz.de/10012962670