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Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany...
Persistent link: https://www.econbiz.de/10002540743
We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms'...
Persistent link: https://www.econbiz.de/10009523478
The evolution of Spanish unemployment has been quite idiosyncratic. The full employment levels of the early seventies were followed by unemployment rates that were the highest within the OECD countries in the aftermath of the oil price shocks. While unemployment was extremely persistent in most...
Persistent link: https://www.econbiz.de/10003759214
The debate in Australia on the (constant-output) elasticity of labour demand with respect to wages has wrongly sidelined the role of capital stock as a determinant of employment (Webster, 2003). As far back as 1991, Pissarides had argued that the influence of capital stock on the performance of...
Persistent link: https://www.econbiz.de/10003793964
channels of the capital stock effects, i.e. using variables like interest rates or investment ratios in the estimation of …
Persistent link: https://www.econbiz.de/10003608449
arise once specialized investment is made. Therefore, this paper investigates whether such agreements affect firm …-level investment. Based on the IAB Establishment Panel Survey 2001-2010 our estimates reveal that the adoption of a company-level pact … leads to a higher investment rate than in other firms driven by re-investment. However, the Great Recession has damped this …
Persistent link: https://www.econbiz.de/10009700205
Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour costs or labour-market institutions. This paper explores an additional source of differentials in competitiveness: land and building prices. European countries, especially France,...
Persistent link: https://www.econbiz.de/10009715724
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