The German apprenticeship training system is generally acknowledged to solve the youth unemployment problem prevalent in many European countries by providing on-the-job training that often leads into subsequent regular employment within the training firms. Little attention has been paid to those...

This paper compares conventional GMM estimators to empirical likelihood based GMM estimators which employ a semiparametric efficient estimate of the unknown distribution function of the data. One-step, two-step and bootstrap empirical likelihood and conventional GMM estimators are considered...

This paper compares generalized method of moments (GMM) and simulated maximum likeli- hood (SML) approaches to the estimation of the panel probit model. Both techniques circum- vent multiple integration of joint density functions without the need to restrict the error term variance-covariance...

This paper introduces a second, vertically related industry into the usual one-industry oligopoly framework of cooperative R&D investment between firms operating on the same product market. R&D efforts are affected by intra- and inter-industry R&D spillovers. Horizontal and vertical R&D...

The paper proposes a technique for the estimation of possibly nonlinear panel data models in the presence of heterogeneous unit nonresponse. Attrition or unit nonresponse in panel data usually renders parameter estimators inconsistent unless the unavailable information is missing completely at...

This paper deals with the labor market entrance of young people in the Federal Republic of Germany. The main focus is on failures during this stage. First, an overview of the youth labor market in Germany is given. Then, the transition from vocational training to work is analyzed: The duration...

The paper compares two approaches to the estimation of panel probit models: the Generalized Method of Moments (GMM) and the Simulated Maximum Likelihood (SML) technique. Both have in common that they circumvent multiple integrations of joint density functions without the need to impose...

Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual income. By compressing the idiosyncratic component o personal income fluctuations, higher marginal taxes should be negatively correlated with the dispersion of consumption across...

We estimate a dynamic structural banking model to examine the interaction between risk-weighted capital adequacy and unweighted leverage requirements, their differential impact on bank lending, and equity buffer accumulation in excess of regulatory minima. Tighter risk-weighted capital...