Der Beitrag untersucht den Zusammenhang von Migrationspolitiken und der sozialen und ökonomischen Adaption und Integration von Immigranten und deren Nachkommen. Es wird argumentiert, dass eine Politik temporärer Arbeits- und Aufenthaltsgenehmigungen negative Auswirkungen auf die Investitionen...

Dienstleistungen sind in Deutschland unterentwickelt, und es spricht vieles dafür, dass hier Wachstumspotentiale liegen. Durch die Korrelation der Dienstleistungsbeschäftigung in den verschiedenen EU-Ländern mit Indikatoren für unterschiedliche, in der theoretischen Debatte genannte...

The capital-asset-pricing model (CAPM) is one of the most popular methods of financial market analysis. But, evidence of the poor empirical performance of the CAPM has accumulated in the literature. For example, based on their empirical results regarding the relation between market Beta and...

Density forecasts have become quite important in economics and finance. For example, such forecasts play a central role in modern financial risk management techniques like Value at Risk. This paper suggests a regression based density forecast evaluation framework as a simple alternative to other...

In this paper we propose a generalisation of the noise trader transmission mechanism to examine the impact of central bank intervention on exchange rates. Within a heterogeneous expectations exchange rate model intervention operations are supposed to provide support to either chartist or...

On the basis of accounting and market data for firms and groups listed on German stock exchanges between 1997 and 2003, we show that the value relevance of R&D information under German accounting standards can be superior to that provided by US-GAAP and IAS. The results, obtained while...

The coordination channel has been proposed as a means by which foreign exchange market intervention may be effective, in addition to the traditional portfolio balance and signaling channels. If strong and persistent misalignments of the exchange rate are caused by non-fundamental influences,...