This paper exploits a unique universal educational policy - implemented in most German states between 2001 and 2008 - that compressed the academic-track high school curriculum into a (one year) shorter time span, thereby increasing time of instruction and share of curriculum taught per grade....

Policy-makers face a trade-off between the provision of higher levels of schooling and earlier labour market entries. A fundamental education reform in Germany tackles this trade-off by reducing high school by one year while leaving the total instructional time unchanged. Employing...

Girls tend to outperform boys in reading tests, while they usually lag behind boys in math. However, the size of the gender gap varies to a great extent between countries. While the existing literature explains these differences as being mainly due to cultural factors, this paper explores...

By using an existing and a new convergence measure, this paper assesses whether bank loan and bond interest rates are converging for the non-financial corporate sector across the euro area. Whilst we find evidence for complete bond market integration, the market for bank loans remains segmented,...

We extend the Berry, Levinsohn and Pakes (BLP, 1995) random coefficients discretechoice demand model, which underlies much recent empirical work in IO. We add interactive fixed effects in the form of a factor structure on the unobserved product characteristics. The interactive fixed effects can...