To facilitate the transformation of the German economy from the traditional manufacturing industries towards emerging new technologies, a new segment of the Frankfurt exchange was introduced in 1997 - Der Neue Markt. This study provides evidence that not only did many new firms obtain funding...

To facilitate the transformation of the German economy from the traditional manufacturing industries towards emerging new technologies, a new segment of the Frankfurt exchange was introduced in 1997 - Der Neue Markt. This study provides evidence that not only did many new firms obtain funding...

In this paper we present a new database that allows deep industry-level growth accounting from 1991-2003. The database allows for the first complete analysis of the German industry performance drivers based on the contributions of 12 asset types in 52 different industries. The industry sources...

This paper shows how and why the Solow growth accounting framework is useful for linking entrepreneurship capital to economic growth. The knowledge filter impedes the spillover of knowledge for commercialization, thereby weakening the impact of knowledge investments on economic growth. By...

The salient rank-size rule known as Zipf's law is not only satisfied for Germany's national urban hierarchy, but also for the city size distributions in single German regions. To analyze this phenomenon, we build on the insights by Gabaix (1999) that Zipf's law follows from a stochastic growth...

With this paper we seek to contribute to the literature on the relation between finance and growth. We argue that most studies in the field fail to measure the quality of financial intermediation but rather resort to using proxies on the size of financial systems. Moreover, cross-country...

Advanced economies have been witnessing a pronounced slowdown of productivity growth since the global financial crisis that is accompanied in recent years by a withdrawal from trade integration processes. We study the determinants of productivity slowdown over the past two decades in four...

German wages have not increased very rapidly in the last decade despite strong employment growth and a 5 percentage point decline in the unemployment rate. Our analysis shows that a large part of the decline in unemployment was structural. Micro-founded Phillips curves fit the German data rather...

The objective of this paper is to analyze the impact of the creative professions - technological employees and bohemians - on economic growth in Germany's planning regions. It is concluded that technological employees and bohemians foster economic growth. We find that growth is particularly...