The more I live the more I learn. The more I learn the more I realize the less I know (Alan and Manly Bergman) This book is a slightly revised version of my dissertation thesis "Wages, hours restrictions and employment" accepted in July 2001 by the Department of Economics at Mannheim University. Most of the studies are part of the re search project "Working hours flexibility and employment" (Arbeitszeitjlexi bilisierung und Beschiijtigung) which was conducted at the Centre for Euro pean Economic Research (ZEW) with financial support by the Fritz Thyssen Stiftung. Now that all the work is...
The more I live the more I learn. The more I learn the more I realize the less I know (Alan and Manly Bergman) This book is a slightly revised version...
Looking back over the last decade it can be said with some justification that sig nificant progress has been achieved on the way towards fully integrated financial markets in Europe. The 1993 Internal Market initiative and the Euro introduction in 1999/2002 constitute important milestones. The integration process has further been intensified by market developments like the surge in mergers and acquisi tions and by technological innovations like internet based distribution. As a result, some market segments today do no longer have a national character. Nevertheless, this success should not...
Looking back over the last decade it can be said with some justification that sig nificant progress has been achieved on the way towards fully integra...
In this book the relation between the characteristics of investors' preferences and expectations and equilibrium asset price processes are analysed. It is shown that declining elasticity of the pricing kernel can lead to positive serial correlation of short term asset returns and negative serial correlation of long term returns. Analytical asset price processes are also derived. In contrast to the widely used "empirical" time-series models these processes do not lack a sound economic foundation. Moreover, in contrast to the popular Ornstein Uhlenbeck process and the Constant Elasticity of...
In this book the relation between the characteristics of investors' preferences and expectations and equilibrium asset price processes are analysed...
Corporate governance is an important issue on the research agenda of financial economists. Using a new and unique data set of German corporations this book examines three topics that are crucial to a better understanding of corporate governance: (a) the frequency, causes, and consequences of control transfers, (b) the determinants of acquisition and failure, and (c) the role of corporate governance and market discipline for productivity growth. This book points out methodological drawbacks of previous empirical studies and provides suggestions on how to avoid these problems in research...
Corporate governance is an important issue on the research agenda of financial economists. Using a new and unique data set of German corporations this...
The term innovation generally means something new and this monograph is an innovation in a sense that it provides the reader with some new insights into the consequences of innovation activities at the ?rm level. In recent years, the importance of innovations for improving competitiveness and stimulating economic growth has increasingly become the focus of public attention. The Federal Government, for instance, proclaimed 2004 as the year of innovation and started several initiatives to foster innovation activities in Germany. This monograph is aimed at the empirical assessment of the impact...
The term innovation generally means something new and this monograph is an innovation in a sense that it provides the reader with some new insights in...
This book analyses the employment effects of job creation schemes for participating individuals in Germany. Programs provide subsidized jobs that are additional in nature and of value for society. International evidence on their effectiveness suggests that programs should be targeted to the needs of the unemployed and should be offered early in the period of unemployment. Both questions are studied for job creation schemes in Germany.
This book analyses the employment effects of job creation schemes for participating individuals in Germany. Programs provide subsidized jobs that a...
In its Annual Report 2003/2004, the German Council of Economic Experts launched a dual income tax as an option for a fundamental tax reform in Germany. In February 2005, the German government appointed the Council to prepare a detailed report on economic effects of a business tax reform, with special emphasis on a dual income tax. With regard to the latter, conceptual problems of tax law and of tax administration were to be addressed as well as possible transitional problems when implementing a dual income tax. This book presents an English version of the original report completed in April...
In its Annual Report 2003/2004, the German Council of Economic Experts launched a dual income tax as an option for a fundamental tax reform in Germany...
This study is a comparison of French and German education and its impact on individual labour market outcomes. I am very grateful to my supervisor Prof. Dr. Dr. h.c. mult. Wolfgang Franz for finding interest in this topic, allowing me the freedom to write my doctoral dissertation on this subject. I would like to thank him for his helpful assistance throughout this work. I am also indebted to Prof. Dr. Walter Miiller, from the Mannheim Centre for European Social Research, who kindly accepted to be my second supervisor. This work has been made possible through the financial support of the...
This study is a comparison of French and German education and its impact on individual labour market outcomes. I am very grateful to my supervisor Pro...
Information and communication technologies (ICTs) create potentials for considerable productivity gains and for higher economic growth. However, ICTs also pose varied challenges to firms in order to benefit from these potentials. Highlighting the importance of innovations, firm-sponsored training, and recruitment of high-skilled workers, this monograph analyses why and to what extent firms differ in their capabilities to make ICT work productively. The work also comprises a detailed discussion of economic theory concerning ICT use and complementary firm strategies. In addition it provides...
Information and communication technologies (ICTs) create potentials for considerable productivity gains and for higher economic growth. However, IC...
Competition policy is an integral and prominent part of economic policy-making in the European Union. The EU Treaty prescribes its member states to conduct economic policy in accordance with the principle of an open market economy with free competition . More precisely, the goal of EU competition policy is to defend and develop effective competition in the common market (European Commission, 2000: 7). Under its Commissioners van Miert, Monti and, most - cently, Kroes the EU Commission has stepped up its effort to pursue and achieve the aforementioned goal. A number of so-called hard-core...
Competition policy is an integral and prominent part of economic policy-making in the European Union. The EU Treaty prescribes its member states to co...
