We use a sample of 18 countries to study what variables have a significant impact on an indi-vidual’s decision to start a new business and classification and regression trees for an accurate interpretation of the data. Our results support existing literature suggesting the existence of strong...

This paper takes up a phenomenon in European geographical development: the simultaneity of regional economic convergence on the one hand and the continued spatial concentration of economic activities on the other. Overall, the disparities in productivity and income between regions in the...

This paper investigates the link between the optimal level of non-financial firms' leverage and macroeconomic uncertainty. We develop a structural model of a firm's value maximization problem that predicts that as macroeconomic uncertainty increases the firm will decrease its optimal level of...

We evaluate the effect of the federal students' financial assistance scheme (BAfoeG) on enrolment rates into higher education by exploiting the exogenous variation introduced through a discrete shift in the repayment regulations. Supported students had to repay the full loan until 1990....