Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts to answer the question what the direction and strength of this possible impact is, examining the relationship between corporate investment and inflation on the sample of 21 OECD...

Using a large administrative dataset for Germany, this paper compares employment developments in exiting and surviving establishments. For both West and East Germany we find a clear 'shadow of death' effect reflecting lingering illness: establishments shrink dramatically already several years...

To obtain reliable estimates of the effects of single-sex education, I exploit the random assignment of students to single-sex and coeducational schools in South Korea. The results suggest that single-sex schooling is beneficial for girls in math, but has no effects for boys. Moreover,...

The Kyoto Protocol's success or failure should be evaluated against the unobserved counterfactual of no treatment. This requires instrumental variables. We find that countries' membership in the International Criminal Court (ICC) predicts Kyoto ratification in a panel model. Both multilateral...

Governments purchase everything from airplanes to zucchini. This paper investigates whether the technological intensity of government demand affects corporate R&Dactivities. In a quality-ladder model of endogenous growth, we show that an increase in the share of government purchases in high-tech...

We propose a model of production where technical change is both time and management induced. We define a general management index in addition to the general time index of Baltagi and Griffin (1988) and use them as arguments in the translog productionfunction. Time and management induced...

This paper estimates the causal effect of an additional year of parents' schooling on theirchildren's education, exploiting compulsory schooling reforms that were implemented inall West German states between 1946 and 1969. Although previous research indicatesthat these reforms had no effects on...

We estimate the effect of age at preschool entrance on crucial noncognitive skills in theyear before school starts. Using an instrumental variable approach and exploiting cut-offdates for the time at preschool entrance we find that children entering preschool earlierin life have better...

In theoretical trade models with variable markups and collective wage bargaining, exportexposure may reduce the exporter wage premium. We test this prediction using linkedGerman employer-employee data from 1996 to 2007. To separate the rent-sharingmechanism from assortative matching, we exploit...

In this paper we analyze the money demand functions of the four largest EMU countriesand of the four-country (EMU-4) aggregate. We identify reasonable and stable moneydemand relationships for Germany, France and Spain as well as the EMU-4 aggregate.For the case of Italy, results are less clear....