[Weltkonjunktur schwächt sich ab] Die Weltwirtschaft ist nach der Phase des "Bounce Back" von der Großen Rezession in eine Phase moderater Expansion eingetreten, die voraussichtlich bis weit in das kommende Jahr hinein anhalten wird. Mehr und mehr machen sich Bremsfaktoren bemerkbar, die einer...

[Etwas ruhigere Gangart der Weltkonjunktur] Nachdem die Weltproduktion im Winterhalbjahr 2010/11 in beschleunigtem Tempo gestiegen ist, deuten die jüngsten Indikatoren auf eine aktuell wieder etwas langsamere konjunkturelle Expansion hin. Auch für den weiteren Prognosezeitraum erwarten wir...

The authors propose a new method for estimating the power-law exponents of firm size variables. Their focus is on how to empirically identify a range in which a firm size variable follows a power-law distribution. On the one hand, as is well known a firm size variable follows a power-law...

We study how credit supply shocks in the US, the euro area and Japan are transmitted to other economies. We use the recently-developed GVAR approach to model financial variables jointly with macroeconomic variables in 33 countries for the period 1983-2009. We experiment with inter-country links...

There is an increasing economic literature considering personality traits as a source of individual differences in labor market productivity and other outcomes. This paper provides an overview on the role of these skills regarding three main aspects: measurement, development over the life...

This paper provides a quantitative review of the empirical literature on the tax impact on corporate debt financing. Synthesizing the evidence from 46 previous studies, we find that this impact is substantial. In particular, the tax rate proxy determines the outcome of primary analyses. Measures...

This paper analyzes the tax haven investment behavior of multinational firms from a country that exempts foreign income from taxation. High foreign tax rates generally encourage firms to invest in tax havens, though significant costs of reallocating taxable income dampen these incentives. The...

Non-traditional source countries of FDI play an increasingly important role, notably in developing host countries. This raises the question of whether the determinants of FDI differ systematically between traditional and non-traditional source countries. We perform Logit and Poisson Pseudo...