This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...

In this paper the hypothesis that partnerships between immigrants and natives are less specialized - in the sense that spouses provide similar working hours per weekday - than those between immigrants is tested. The empirical analysis relies on panel data using a two-limit random effects tobit...

Based on new, exceptionally informative and large German linked employer-employee administrative data, we investigate the question whether the omission of important control variables in matching estimation leads to biased impact estimates of typical active labour market programs for the...

We provide an explanation for the common finding that the effect of retirement on life satisfaction is negligible. For this we use subjective well-being measures for life and domains of life satisfaction that are available in the German Socio-Economic Panel (GSOEP) and show that the effect of...

It is generally agreed that the funding base for German universities is inadequate and perhaps the time has come for serious consideration of the imposition of non-trivial tuition charges. Against this background, this paper compares conventional and income contingent loans for financing tuition...

We apply a recently proposed method to disentangle unobserved heterogeneity from risk in returns to education. We replicate the original study on US men and extend to US women, UK men and German men. Most original results are not robust. A college education cannot universally be considered an...

The paper addresses an often neglected question in labour market research: to which extent do outcomes aggregated on the national level disguise occupational diversity in employment conditions? In particular, how and why do occupational groups differ with regard to the incidence of non-standard...