In Deutschland wird im Kontext der Diskussion um Mindestlöhne häufig der Eindruck erweckt, dass die französische Entwicklung auf dem Arbeitsmarkt wegen zu hoher Mindestlöhne von Arbeitslosigkeit und Jobverlusten gekennzeichnet sei. Untersucht man jedoch die französische...

The economic recession of 2007-2009 proved to be a difficult period for most European economies. Poland was among the few countries that recorded positive gross domestic product (GDP) growth during that period. The main reason for its performance was that private consumption stimulated the GDP....

Duffee (2005) documents that the amount of consumption risk (i.e., the conditional covariance between market returns and consumption growth) is procyclical. In light of this "Duffee Puzzle", I empirically demonstrate that the conditional covariance between dividend growth (i.e., the immediate...