Italy and Germany have similar geographical differences in productivity – North more productive than South in Italy …; West more productive than East in Germany – but have adopted different models of wage bargaining. Italy sets wages based on … nationwide contracts that allow for limited local wage adjustments, while Germany has moved toward a more flexible system that …

A political miracle occurred when Germany was reunited, and at first glance an economic miracle has followed. Real … west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …

We examine financial literacy in Germany using data from the SAVE survey. We find that knowledge of basic financial … concepts is lacking among women, the less educated, and those living in East Germany. In particular, those with low education … and low income in East Germany have little financial literacy compared to their West German counterparts. Interestingly …

to East Germany in 1989 experience a persistent rise in their personal incomes after the fall of the Berlin Wall … returns to entrepreneurial activity, the share of households who become entrepreneurs, and the likelihood that firms based … within a given West German region invest in East Germany. As a result, West German regions which (for idiosyncratic reasons …

Barro (1991), except that migration out of East Germany has not slowed down. I document that in particular the 18-29 year … old are leaving East Germany, and that the emigration has accelerated in recent years. I document that low wages, high … unemployment and increasing reliance on social security persist across wide regions of East Germany together with these migration …

ventures. The effect on the rate of successful post-MBA entrepreneurs, instead, is insignificantly positive. In addition …, sections with few prior entrepreneurs have a considerably higher variance in their rates of unsuccessful entrepreneurs. The …

entrepreneurs, controlling for the density of firms in their current location. Conditional on becoming entrepreneurs, the same … individuals are also more likely to be successful entrepreneurs, as measured by business income or firm productivity. Strikingly … interpretation, we find that entrepreneurs who at the age of 18 lived in areas with a higher firm density tend to adopt better …