We study how an aggregate bank flow shock impacts German cities' GDP growth depending on the state of their local real estate markets. Identification exploits a policy framework assigning refugees to cities on a quasi-random basis and variation in non-developable area for the construction of a...

Interest in the theoretical and empirical analysis of multi-product enterprises is growing. This paper uses newly available representative longitudinal data covering the years 1995 to 2004 to document for the first time the extent of product diversification in German manufacturing enterprises...

Using OLS and quantile regression methods and rich cross-section data sets for western and eastern Germany, this paper demonstrates that the impact of works council presence on labor productivity varies between manufacturing and services, between plants that are or are not covered by collective...