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Macroeconomic effects of demographic change: the role of human capital
Geppert, Christian - 2015
Demographic change belongs to the mega-trends of the 20th and the 21st century. The ongoing aging process in major industrialized countries gives rise to the relative scarcity of raw labor and the relative abundance of physical capital. Standard macroeconomic models suggest that this depresses...
Persistent link: https://www.econbiz.de/10011432257
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Empirical analysis of the illiquidity premia of German real estate securities
Paul, Thomas; Walther, Thomas; Küster-Simić, André - In: Financial markets and portfolio management 36 (2022) 2, pp. 203-260
Persistent link: https://www.econbiz.de/10013263540
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Efficient bargaining and the skill-structure of wages and employment
Kaiser, Ulrich; Pohlmeier, Winfried - 2000
This paper presents structural estimates for a bargaining model which nests the right-to-manage, the efficient wage bargaining, the seniority and the standard neoclassical labor demand model as special cases. In contrast to most existing models, our approach accounts for heterogeneous skill...
Persistent link: https://www.econbiz.de/10011544363
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Financial Risks, Bankruptcy Probabilities, and the Investment Behaviour of Enterprises
Kirchesch, Kai - 2004
The link between investment and finance usually enters the empirical literature in the form of financial constraints which are defined as the wedge between the costs of internal and external finance or as the risk of being rationed on the credit market. In this context, the sensitivity of...
Persistent link: https://www.econbiz.de/10010295432
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A comparison of dynamic panel data estimators: Monte Carlo evidence and an application to the investment function
Behr, Andreas - 2003
sample properties of the GMM-methods. In the case of endogenous predetermined regressors, the system-estimator proposed by … Blundell and Bond is unbiased and most efficient, while direct bias corrected estimators perform similar to the GMM … die bekannt günstigen Eigenschaften von GMM-Schätzern bei großer Beobachtungszahl wider. Im Falle endogener …
Persistent link: https://www.econbiz.de/10010295751
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How Do Banks Determine Capital? Empirical Evidence for Germany
Weber, Martin; Kleff, Volker - 2003
and 2001 provided by the Deutsche Bundesbank, we apply the generalised method of moments (GMM) within a dynamic panel data …
Persistent link: https://www.econbiz.de/10010297333
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Occupational and locational substitution: measuring the effect of occupational and regional mobility
Aldashev, Alisher - 2009
The paper analyzes effects of occupational and regional mobility on the matching rate using the monthly panel disaggregated on regional and occupational level. The main contribution of the paper is measuring the effect of substitutability between vacancies for different occupations and vacancies...
Persistent link: https://www.econbiz.de/10010298786
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The uncovered return parity condition
Cappiello, Lorenzo; De Santis, Roberto A. - 2007
This paper proposes an equilibrium relationship between expected exchange rate changes and differentials in expected returns on risky assets. We show that when expected returns on a risky asset in a certain economy are higher than the returns that are expected from investing in a risky asset in...
Persistent link: https://www.econbiz.de/10011604858
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Dynamics of Labour and Capital Adjustment : A Comparison of Germany and the Netherlands
Polder, Michael; Verick, Sher - 2004
In this paper we investigate the dynamic adjustment of labour and capital in German and Dutch firms. The Dutch labour market is characterised by greater flexibility in wages and work arrangements in comparison to Germany. These institutional differences imply that employment dynamics in the two...
Persistent link: https://www.econbiz.de/10010261963
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Aggregate-Level Migration Studies as a Tool for Forecasting Future Migration Streams
Fertig, Michael; Schmidt, Christoph M. - 2000
Assessing the migration potential and predicting future migration streams are among the most relevant, yet least well understood topics of migration research. The usual approach taken to address aggregate-level prediction problems is to fit ad hoc specifications to historical data, and to...
Persistent link: https://www.econbiz.de/10010262391