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Bitte um Gnade für den BundeshaushaltReint GroppDer Spiegel, 13. November 2024
Firms’ financial leverage can largely explain the value effect, however, we document that the expected return-beta relationship of equity in unconditional tests of the CAPM is more generally distorted by leverage.
We examine how state ownership of banks may have contributed to the ascent to power of Vladimir Putin during the Russian presidential elections of March 2000.
The goal of the conference was to promote the exchange of ideas and experience among young economists conducting research in all fields of economics.
Most applied work in international economics treats trade policy (a) as a linear component of trade costs and (b) as an exogenous variable.
This paper extends the classic risk-return tradeoff of asset pricing to a risk-effort tradeoff, by assuming that managerial effort is necessary to generate cash flows. Corporate governance standards influence the manager's return to effort, her exposure to corporate risk, and the dilution of shareholder value.
Previous work has shown that, in a liquidity trap, aggressive government spending cuts can be self-defeating in the short-run due to a higher-than-normal multiplier.
We show that temporary place-based subsidies generate persistent effects on economic density. As our design allows us to control for agglomeration economies, we attribute an important role to policy-induced locational advantage (e. g. capital structures) in explaining persistent spatial patterns of economic activity.
The Department of Structural Change and Productivity at the Halle Institute for Economic Research (IWH) - Member of the Leibniz Association is hosting a workshop on Entrepreneurship and the Labour Market to be held in Halle (Saale) on April 22-23, 2016.
In a meta-analysis of 115 experimental impact evaluations, we find that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy.
Der Aufschwung in Deutschland und im Euro-Raum setzt sich fort. Für Deutschland rechnet der Sachverständigenrat mit Zuwachsraten des realen Bruttoinlands-produkts von 1,9% im Jahr 2016 und 1,3% im Jahr 2017.
