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Germany's Economic Unification : An Assessment after Ten Years

Sinn, Hans-Werner - 2011

west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …A political miracle occurred when Germany was reunited, and at first glance an economic miracle has followed. Real … incomes in the east have now reached the western level, and investment per capita has been much higher than in the west …

Persistent link: https://www.econbiz.de/10013132721

Monetary Easing, Leveraged Payouts and Lack of Investment

Acharya, Viral V.; Plantin, Guillaume - 2022

, potentially spurring productive investment. Low interest rates, however, also induce entrepreneurs to lever up so as to increase … their incentives thereby lowering productivity and discouraging investment. If leverage is unregulated (for example, due to … payouts by stimulating investment in response to adverse shocks only up to a level below the first-best. The optimal monetary …

Persistent link: https://www.econbiz.de/10013322932

How Do Patents Affect Research Investments?

Williams, Heidi L. - 2017

While patent systems have been widely used both historically and internationally, there is nonetheless a tremendous amount of controversy over whether patent systems – in practice – improve the alignment between private returns and social contributions. In this paper, I describe three...

Persistent link: https://www.econbiz.de/10012964879

Child Penalties Across Countries : Evidence and Explanations

Kleven, Henrik - 2019

This paper provides evidence on child penalties in female and male earnings in different countries. The estimates are based on event studies around the birth of the first child, using the specification proposed by Kleven et al. (2018). The analysis reveals some striking similarities in the...

Persistent link: https://www.econbiz.de/10012893143

Fiscal Limits in Advanced Economies

Leeper, Eric M. - 2011

Aging populations in advanced economies are placing ever-increasing demands on government spending in the form of old-age benefits. Economies that have promised substantially more benefits than they have made provision to finance are heading into a prolonged era of fiscal stress. Unresolved...

Persistent link: https://www.econbiz.de/10013129132

The Time for Austerity : Estimating the Average Treatment Effect of Fiscal Policy

Jordà, Òscar - 2013

After the Global Financial Crisis a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty of identifying multipliers from observational data. This paper...

Persistent link: https://www.econbiz.de/10013076565

Answering the Critics : Yes, Arch Models Do Provide Good Volatility Forecasts

Andersen, Torben G. - 2008

Volatility permeates modern financial theories and decision making processes. As such, accurate measures and good forecasts of future volatility are critical for the implementation and evaluation of asset pricing theories. In response to this, a voluminous literature has emerged for modeling the...

Persistent link: https://www.econbiz.de/10012774886

Why Some Times are Different : Macroeconomic Policy and the Aftermath of Financial Crises

Romer, Christina D. - 2017

Analysis based on a new measure of financial distress for 24 advanced economies in the postwar period shows substantial variation in the aftermath of financial crises. This paper examines the role that macroeconomic policy plays in explaining this variation. We find that the degree of monetary...

Persistent link: https://www.econbiz.de/10012945611

Streaming Reaches Flood Stage : Does Spotify Stimulate or Depress Music Sales?

Aguiar, Luis - 2015

Streaming music services have exploded in popularity in the past few years, variously raising optimism and concern about their impacts on recorded music revenue. On the one hand, streaming services allow sellers to engage in bundling with the promise of increasing revenues, profits, and consumer...

Persistent link: https://www.econbiz.de/10013013191

Effects of Index-Fund Investing on Commodity Futures Prices

Hamilton, James D. - 2014

The last decade brought substantial increased participation in commodity markets by index funds that maintain long positions in the near futures contracts. Policy makers and academic studies have reached sharply different conclusions about the effects of these funds on commodity futures prices....

Persistent link: https://www.econbiz.de/10013059085

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