Summary According to the economic theory of crime, a rise in expected punishment - i.e. the product of probability and severity of punishment - results in a reduction of crime due to deterrence. What appears to be a simple and straightforward hypothesis turns out to be a demanding task for...

Summary This paper addresses possible consequences of a minimum wage in a spatial context. An empirical analysis utilizing German data shows that a significant spatial wage structure exists and that, as a consequence, the share of workers earning wages below a minimum wage will be particularly...

Abstract This paper employs a novel firm-level dataset that combines financial accounts of German firms with data from a business survey to shed new light on the demand for capital. The empirical analysis employs firm-specific indicators in order to explore the effects of sales, the cost of...