From a model by Hopenhayn, three hypotheses can be derived: (H1) Firms that exit in year t were less productive in t-1 than firms that continue to produce in t. (H2) Firms that enter in year t are less productive than incumbent firms in year t. (H3) Surviving firms from an entry cohort were more...

This empirical paper documents the relationship between the composition of a firm's workforce (with a special focus on age and gender) and its performance (productivity and profitability) for a large representative sample of enterprises from manufacturing industries in Germany using newly...

Using a large new data set we present results from the first econometric study of the effects of pensions on firm performance in Germany. We find evidence for positive effects on wages, reduction of labor trunover, training, and profits.