This paper is concerned with the study of the labor market performance of immigrants. The unemployment rate is used as an indicator and natives as the reference group for the analysis. The analysis proceeds in two steps. In a first step, probit regressions on the unemployment probabilities are...

Die vorliegende Untersuchung stellt die Probleme des internationalen Dienstleistungshandels dar; sie analysiert und bewertet die derzeit gültigen Regelungen des GATS. Sowohl die konzeptionelle Problematik der Definition von Dienstleistungen und Dienstleistungshandel, als auch die sich aus der...

We examine whether the sorting of differently achieving students into differently sized classes results in a regressive or compensatory pattern of class sizes for a sample of national school systems. Sorting effects are identified by subtracting the causal effect of class size on performance...

The New Keynesian Phillips curve (NKPC) has become the dominant model on inflation dynamics. Moreover, a large body of empirical research has documented in recent years price-setting behaviour at the individual level, which allows the assessment of the microfoundations of pricing models. It is...

Inflation and unemployment are central issues in macroeconomics. While progress has been made on these issues recently using models that explicitly incorporate search-type frictions, existing models analyze either unemployment or inflation in isolation. We develop a framework to analyze...

Although domestic mergers and acquisitions (M&As) in the financial services industry have increased steadily over the past two decades, international M&As were relatively rare until recently. This paper uses a novel dataset of over 2,300 mergers that took place between 1978 and 2001 to analyse...

The activities of multinational enterprises drive the economic globalization process to a very large degree. This paper lists some facts about their dominant role in all channels of globalization. Therefore, the importance of multinational enterprises in foreign direct investment and production...

This paper investigates the quality of property rights and long-term economic growth in an international cross-section of countries in 1975?1995. The empirical tests indicate that the impact of private property rights on growth is positive and simultaneously determined. Correcting for the...

Surges and reversals of short-term foreign liabilities are often held responsible for instabilities in international financial markets. Yet, empirical evidence on the factors determining the maturity of capital flows is scant. This paper analyzes the determinants of foreign assets of German...

The paper suggests that international differences in educational institutions explain the large international differences in student performance in cognitive achievement tests. A microeconometric student-level estimation based on data for more than 260,000 students from 39 countries reveals that...