Peter-J. Jost and Claus van der Velden, the authors, discuss a very interesting problem. They ask whether horizontal mergers may be profitable. Their starting point is a well-known result from Salant, Switzer, and Reynolds (1983). They show in a conventional Cournot oligopoly framework that a...

The present paper examines the wage effects of continuous training programs using individual-level data from the German Socio Economic Panel (GSOEP). In order to account for selectivity in training participation we estimate average treatment effects (ATE and ATT) of general and firm-specific...