In this paper we predict the pure demographic effect on medical expenditure of the German Statutory Health Insurance Scheme. To isolate this effect, we assume that the age-specific expenditure for medical treatment as observed in 1991 remains constant over the whole prediction period (1991 until...

We develop a method for estimation of price reactions using unit value data which exploits the implicit links between quantity and unit value choices. This allows us to combine appealing Engel curve specifications with a model of unit value determination in a way which is consistent with demand...

Many budget surveys present the interesting features that for a wide range of goods they contain quantity information along with expenditure information, and that the geographical location of households is fairly precise. We take advantage of these features to develop a method for estimation of...

This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency of block trading is similar to other countries, and the vast majority of block trades leads to changes in ultimate ownership (control transfers). Such changes are more likely...

This study examines managerial disciplining in poorly performing firms using large panels for Belgian, French, German and UK firms. We consider the monitoring role of large blockholders, the market for share blocks, creditors, and non-executive directors. Board restructuring is correlated to...