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How efficient is the East German economy? : an exploration with micro data
Funke, Michael; Rahn, Jörg - 2000
efficiency in eastern and western Germany. The results indicate that firms in eastern Germany are significantly less efficient … than firms in western Germany. The paper also examines some of the possible correlates of regional variations in firm …
Persistent link: https://www.econbiz.de/10009780206
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Germany's economic unification : an assessment after ten years
Sinn, Hans-Werner - 2000
A political miracle occurred when Germany was reunited, and at first glance an economic miracle has followed. Real … west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …
Persistent link: https://www.econbiz.de/10009781521
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Growth and convergence in a two-region model of unified Germany
Funke, Michael; Strulik, Holge - 1999
The paper sets up a two-region endogenous growth model to discuss growth and regional convergence of unified Germany … consistent with the data on government spending in East and West Germany after unification the model suggests that East Germany … will reach eighty percent of West Germany's income per capita between 20 and 30 years after unification and that actual …
Persistent link: https://www.econbiz.de/10009781701
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Financial intermediation and the creation of macroeconomic risks
Gersbach, Hans - 2002
We examine financial intermediation when banks can offer deposit or loan contracts contingent on macroeconomic shocks. We show that the risk allocation is efficient if there is no workout of banking crises. In this case, banks will shift part of the risk to depositors. In contrast, under a...
Persistent link: https://www.econbiz.de/10011409445
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The existence of informationally efficient markets when individuals are rational
Muendler, Marc-Andreas - 2004
A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing asset price - contrary to a wide-held conjecture. Generalizing the common additive signal-return model with CARA utility to the family of distributions with moment generating...
Persistent link: https://www.econbiz.de/10011451345
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Macroeconomic factors and micro-level bank risk
Buch, Claudia M.; Eickmeier, Sandra; Prieto, Esteban - 2010
The interplay between banks and the macroeconomy is of key importance for financial and economic stability. We analyze this link using a factor-augmented vector autoregressive model (FAVAR) which extends a standard VAR for the U.S. macroeconomy. The model includes GDP growth, inflation, the...
Persistent link: https://www.econbiz.de/10008697545
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The East German wage structure after transition
Orlowski, Robert; Riphahn, Regina T. - 2008
We extend the literature on transition economies' wage structures by investigating the returns to tenure and experience. This study applies recent panel data and estimation approaches that control for hitherto neglected biases. We compare the life cycle structure in East and West German wages...
Persistent link: https://www.econbiz.de/10003806001
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History, expectations, and public policy : economic development in Eastern Germany
Schäfer, Andreas; Steger, Thomas M. - 2010 - This version: September 14, 2010
Motivated by the process of economic development in Eastern Germany since the German reunification we set up a dynamic …
Persistent link: https://www.econbiz.de/10008697086
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Good institutions are not enough : ongoing challenges of East German development
Carlin, Wendy - 2010
of institutions. Yet via unification, East Germany had immediate access to credible, high quality institutions. This …'s niche in the international division of labour. East Germany's experience highlights the long shadow cast by the period under …-sustaining growth. -- transition ; institutions ; East Germany ; tradeables ; convergence …
Persistent link: https://www.econbiz.de/10008697420
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Integrating with their feet : cross-border lending at the German-Austrian border
Fidrmuc, Jarko (contributor); Hainz, Christa (contributor) - 2008
Persistent link: https://www.econbiz.de/10003688885