Using combined data from the German Pension Insurance and the Federal Employment Agency (BASiD), this study proposes different procedures for imputing the pre-unification education variable in the BASiD data. To do so, we exploit information on education-related periods that are creditable for...

The economic analysis of corporate governance is en vogue. In addition to a host of theoretical papers, an increasing number of empirical studies analyze how ownership structure, capital structure, the structure of the board and the market for corporate control influence firm performance. This...

The European Union Statistics on Income and Living Conditions (EU-SILC) is a rotational panel provided by Eurostat that covers variables with a high potential for comparative European labour market and social research. Unfortunately, its current availability limits its potential research...

Sustainability indices for countries provide a one-dimensional metric to valuate country-specific information on the three dimensions of sustainable development: economic, environmental, and social conditions. At the policy level, they suggest an unambiguous yardstick against which a country’s...

This paper shows that earnings losses after unemployment increase with age. First, older employees start out with relatively high earnings in comparison to employees without employment interruptions several years before the non-employment spell. This earnings advantage turns into a strong...

Labour market reforms that are designed to stimulate labour supply at the lower end of the wage distribution can never be precisely restricted to affect only the target group. Spillovers to and feedback from other segments of the labour market are unavoidable and may counteract the direct...

Using data from the German Socio-Economic Panel for the years 2000 to 2006 we analyze the determinants and labor market effects of educational dropout. In addition to classical variables like family background and occupation, we examine noncognitive skills and Internet use. Noncognitive skills...

This paper provides firm-level evidence for the relationship between the age structure of the workforce and the adoption of new or significantly improved technologies in service sector firms. Furthermore, it closes a research gap by analyzing the joint impact of the age of the workforce and the...

This study tests for financial constraints on R&D investment and how they differ from capital investment. To identify constraints in the access to external capital, we employ a credit rating index. Our models show that internal constraints, measured by mark-ups, are more decisive for R&D than...

This paper examines return predictability when the investor is uncertain about the right state variables. A novel feature of the model averaging approach used in this paper is to account for finite-sample bias of the coefficients in the predictive regressions. Drawing on an extensive...