Residual income valuation is based on the assumption that the clean surplusrelation holds. As pointed out by Ohlson (2000), among others, the standardclean surplus relation is frequently violated. Moreover, standard residualincome valuation models rest on the implicit assumption that future...

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

In order to con¯ne excessive levels of temporary layo®s, US ¯rms are taxed - albeit incom-pletely - according to the unemployment insurance bene¯ts claimed by their laid o® workers.In contrast, German construction ¯rms are not charged according to their layo® historyand should thus have...

Employing a large individual-level administrative dataset from Great Britain, coveringthe period 1999-2005, we analyse the factors inuencing the length of unemployment benetsclaimant periods with subsequent transition to re-employment. To this end, this individual-level data is merged with a...

Die vorliegende Arbeit diskutiert Ursachen für Unsicherheiten von Konjunk-turprognosen und demonstriert die Berechnung von empirischen Prognoseinterval-len. Die Verwendung empirischer Prognoseintervalle fürr eine Beurteilung der Si-gnifikanz von Prognoserevisionen wird für den Median der...

Most existing analyses on the gender wage gap (GWG) have neglected the establishment as aplace where inequality between male and female employees arises and is maintained. The useof linked employee-employer data permits us to move beyond the individual and consider theimportance of the workplace...

This paper tests some of the predictions of recent advances in trade theorythat have focused on different trade patterns of firms within the samesector. Helpman, Melitz and Yeaple (2005) develop a model in whichinnate productivity differences between firms determine the degree ofinternational...

Zahlreiche Studien weisen auf hohe Misserfolgsquoten von Unternehmenszusammenschlüssenhin, messen dies jedoch vor allem anhandfinanzieller Indikatoren, während eine mitarbeiterbezogene Betrachtungunterbleibt...