This paper describes simple econometric methods for the analysis of credit risk and applies them to a data set obtained from credit files taken from six large German universal banks. The paper focuses on (i) binary and ordered probit/logit models which enable the credit analyst to quantify the...

This paper describes simple econometric methods for the analysis of credit risk and applies them to a data set obtained from credit files taken from six large German universal banks. The paper focuses on (i) binary and ordered probit/logit models which enable the credit analyst to quantify the...

This paper presents structural estimates for a bargaining model which nests the right-to-manage, the efficient wage bargaining, the seniority and the standard neo- classical labor demand model as special cases. In contrast to most existing models, our approach accounts for heterogeneous skill...

No other area of the German economy has developed so emphatically in the past ten years as that of business-related services. Regardless their growing importance, business-related services still play only a minor role in official statistics. Above all, official statistics do not provide...

No other area of the German economy has developed so emphatically in the past ten years as that of business-related services. Regardless their growing importance, business-related services still play only a minor role in official statistics. Above all, official statistics do not provide...

This paper presents structural estimates for a bargaining model which nests the right-to-manage, the efficient wage bargaining, the seniority and the standard neo- classical labor demand model as special cases. In contrast to most existing models, our approach accounts for heterogeneous skill...