In this paper, we investigate the claim that German banks are special compared to banks in other industrialised economies. We show that banks are of particular importance to the German economy?as financial intermediary, as lender to the corporate sector, and as part of the corporate governance...

The German financial system is characterized by lower degrees of penetration by foreign commercial banks and of (bank) disintermedation than, for instance, that of the United States. These differences between the two countries could be attributed to the fact that universal banking in Germany...

We evaluate the effect of technology, demographics and policy on the differential evolution of the skill premium and on the rise in education investment in France and the USA. We use a computable general equilibrium model with overlapping generations of individuals, and endogenous education...

This paper analyzes some of the implications of North American labor market integration for fiscal policy. The economies of Canada and the US are both characterized by highly integrated internal markets for goods and services as well as for labor and capital, and subnational governments in both...

In this paper, we investigate the consequences of the rise in educational attainment on the US generational accounts. We build on the 1995 accounts of Gokhale et al. (1999) and disaggregate them per schooling level. We show that low skill newborns are characterized by a negative generational...

In this study we argue that wage inequality and occupational mobility are intimately related. We are motivated by our empirical findings that human capital is occupation-specific and that the fraction of workers switching occupations in the United States was as high as 16% a year in the early...

This paper presents a theoretical and empirical analysis of the largely ignored issue of the determinants of the educational attainment of adults by immigrant generation. Using Current Population Survey (CPS) data, differences in educational attainment are analyzed by immigrant generation...

We investigate the effects of maternity leave coverage on women?s post-birth wages, job tenure, and labor market attachment. We pay particular attention to unobservable characteristics that are correlated with maternity leave coverage and that affect labor market outcomes. We use a control...

In this paper I discuss a structural problem facing the United States with respect to our policy responses in the context of trade and technological change and their impact on workers. Both trade and technological change have put enormous pressure on the U.S. economy to raise the skill level of...

Census data for 1990/91 indicate that Australian and Canadian female immigrants have higher levels of English fluency, education (relative to native-born women), and income (relative to native-born women) than do U.S. female immigrants. A prominent explanation for this skill deficit of U.S....