discretion in determining the level of investment. What is the link between stock price informational efficiency and economic … efficiency? We present a model of the stock market in which: (i) managers have discretion in making investments and must be given …

the unification of East Germany and West Germany, a shock that may have caused employees in the former West to resist …

investment, and for contesting corporate governance. In Germany, where the stock market has historically been small, banks hold …

This paper presents a theoretical model dealing with the duration of youth unemployment in West Germany. Duration can …

This study examines the determinants of the reservation wage of unemployed persons in the Federal Republic of Germany …

The evolution of unemployment in West Germany and the U. S. stands in sharp contrast, with German unemployment much … big difference berween the two countries is that there is no feedback from wages to prices in Germany, and so high … unemployment does not put downward pressure on the inflation rate. During the 19705 and 19805 in Germany there emerged a growing …

This paper deals with the labor market entrance of young people in the Federal Republic" of Germany. The main focus is … on failures during this stage. First, an overview of the youth" labor market in Germany is given. Then, the transition …

version of the separation of ownership and control -- Jensen's (1986) free cash flow theory--into a dynamic equilibrium model …