The ongoing financial crisis so far cost the German financial sector 38 billion Euros due to losses on its mortgage-related subprime bank exposures. This paper looks for the impact of these losses on the real sector of the economy. First, the financial sector is looked at as part of the overall...

Zur Charakterisierung des Risikogrades einer Immobilienkapitalanlage konnten sich in den vergangen Jahren vermehrt Begrifflichkeiten wie Core, Value-added und Opportunistisch in Literatur und Praxis etablieren. In Absenz eines fundierten und allgemein anerkannten Definitionsansatzes werden die...

Information about teachers' effectiveness at the hiring stage is particularly scarce despite its importance for personnel decisions. Using the German setting of teacher training, I investigate the relationship of teachers' pre-service cognitive and pedagogical skills as measured by two state...

In this paper, we exploit a panel of industry-level data in European countries to study the economic impact of national reductions in usual weekly working hours between 1995 and 2007. Our identification strategy relies on the five national reforms that took place over this period and on initial...