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This paper takes up a phenomenon in European geographical development: the simultaneity of regional economic convergence on the one hand and the continued spatial concentration of economic activities on the other. Overall, the disparities in productivity and income between regions in the...
Persistent link: https://www.econbiz.de/10003123426
The purpose of this paper is to sort out firm-related differences from effects that result from different economic structures. A non-parametric decomposition is used to analyse firm level difference between the wage spread in the two major regions of unified Germany. If firm-specific effects...
Persistent link: https://www.econbiz.de/10003375745
The vast majority of regions in West Germany, and the EU, have become more similar in terms of per-capita income and productivity between 1980 and 2000. But a number of rich areas - generally large agglomerations - have succeeded in departing from this trend of convergence. They are continuing...
Persistent link: https://www.econbiz.de/10003324227
Persistent link: https://www.econbiz.de/10003691600
Financial theory creates a puzzle. Some authors argue that high-risk entrepreneurs choose debt contracts instead of equity contracts since risky but high returns are of relatively more value for a loan-financed firm. On the contrary, authors who focus explicitly on start-up finance predict that...
Persistent link: https://www.econbiz.de/10010260685
In a world with complete markets and no transactions cost, the decision whether to rent or buy a home is separate from a household's professional income risk. If markets are incomplete and have frictions, however, profession- specific income risk, regional house price risk, and mobility needs...
Persistent link: https://www.econbiz.de/10010270723
Financial theory creates a puzzle. Some authors argue that high-risk entrepreneurs choose debt contracts instead of equity contracts since risky but high returns are of relatively more value for a loan-financed firm. On the contrary, authors who focus explicitly on start-up finance predict that...
Persistent link: https://www.econbiz.de/10010298280
Persistent link: https://www.econbiz.de/10001528197
Persistent link: https://www.econbiz.de/10001250503
Persistent link: https://www.econbiz.de/10001606208