The international financial crisis that began in 2006/2007 continues to threaten economic stability in many parts of the world including the United States and Europe. The paper explores how the financial crisis conforms to or challenges two models of capitalism by comparing efforts by Germany...

«Elite», so sagt es der Duden, bedeutet «eine Auslese darstellende Gruppe». Nur: Wer gehört heute zu diesem kleinen feinen Kreis der Mächtigen und Einflussreichen? Und sind sie eine «Auslese»? Georg Meck und Bettina Weiguny, beide Wirtschaftsreporter der «Frankfurter Allgemeinen...

This paper analyses the Relative Age Effect (RAE) in German elite youth soccer academies. We examine the efficiency of talent selection and the returns to training. Our results indicate a strong effect of players' birth dates on their probability of getting selected - and, thus, a waste of...

Key date assessments are common in the contexts of firms’ hiring decisions, the educational system, and professional sports. In talent selection, it is very likely that there is a difference between current and potential performance levels. This paper analyses the Relative Age Effect (RAE) in...