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A Re-Consideration of Money Demand Theory
Portfolio models typically ignore precautionary transactions demands for liquid assets, and models of precautionary demands typically ignore asset rate-of-return risk. If... -
Trade uncertainty, economic policy uncertainty and shipping costs
We examine how trade and policy uncertainty affect shipping freight rates, using a Bayesian Vector Autoregression (BVAR) model. Trade uncertainty has a strong effect on shipping... -
Market structure and horizontal growth strategies – a case study of the conta...
This article aims to review the structural transformation in the container shipping industry from 1995 to 2020 and identify the growth strategies of global carriers to enhance... -
Trade and the Size Distribution of Firms: Evidence from the German Empire
What effect did trade have on the size distribution of firms during the first wave of globalization? Three historical datasets from the German Empire between 1875 and 1907 were... -
Do Political Parties Matter? - Evidence from German Municipalities
We assess whether the partisanship of local councils affects the level and composition of local public spending by German municipalities. Our identification strategy exploits... -
Did the German minimum wage reform influence (un)employment growth in 2015? E...
Using the variation across space, age and sex and the variation across space and sectors, we analyze the relationship between the minimum wage and (un-)employment growth in... -
Is there a Glass Ceiling over Germany?
This paper analyzes the gender wage gap across the wage distribution using 2010 data from the German Statistical Agency. I investigate East and West Germany and the public... -
Structural changes in the labor market and the rise of early retirement in Fr...
The rise of early retirement in Europe is typically attributed to the European system of taxes and transfers. A model with an imperfectly competitive labor market allows us to...
