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  • Externe Monographien

    The Stock-Flow Approach to the Real Exchange Rate of CEE Transition Economies

    Paris: CEPII, 2004, 41 S.
    (Working Paper / CEPII ; 2004,15)
    | Bálazs Égert, Amina Lahrèche-Révil, Kirsten Lommatzsch
  • Externe Monographien

    Macroeconomic Uncertainty and Firm Leverage

    Frankfurt/Oder: Universität, 2004, 23 S.
    (Capital Markets and Finance in the Enlarged Europe : The Postgraduate Research Programme Working Paper Series ; 19/2004)
    | Christopher F. Baum, Andreas Stephan, Oleksandr Talavera
  • Externe referierte Aufsätze

    Long-Run Money Demand in the New EU Member States with Exchange Rate Effects

    Within a wide range of other economic and financial indicators, money is highly relevant to the two-pillar monetary strategy of the European Central Bank for detecting risks to price stability over the medium term. Money demand models are a natural benchmark for assessing monetary developments. The existence of a well-specified and stable relation between money and prices can be perceived as a prerequisite ...

    In: Eastern European Economics 45 (2007), 2, S. 75-94 | Christian Dreger, Hans-Eggert Reimers, Barbara Roffia
  • Diskussionspapiere 1390 / 2014

    Financial Development and Employment: Evidence from Transition Countries

    This paper studies the association between a country’s level of financial development and firms’ employment growth. We employ an incomplete contract model for evaluating this association. The model proposes that a high level of financial development affects the employment of firms with low managerial capital negatively, while firms with high managerial capital benefit from a more developed financial ...

    2014| Dorothea Schäfer, Susan Steiner
  • Externe referierte Aufsätze

    Fiscal Policy Rules for Stabilisation and Growth: A Simulation Analysis of Deficit and Expenditure Targets in a Monetary Union

    We analyse the effectiveness of fiscal policy rules for business cycle stabilisation in a monetary union using a quarterly macro-econometric model of Germany. The simulations compare a deficit target and an expenditure target under a range of supply, demand and fiscal shocks. Their effects are evaluated by their impact on prices and output. The analysis demonstrates that in general the deficit target ...

    In: Journal of Policy Modeling 28 (2006), 4, S. 357-369 | Tilman Brück, Rudolf Zwiener
  • DIW Economic Bulletin 3 / 2014

    Financial Sector: Upward Trend in Share of Women on Corporate Boards Progressing Only in Small Steps

    Last year, more women were appointed to the executive boards of major financial institutions. The share of women on the executive boards of banks and savings banks at the end of 2013 was a good six percent, which represents an increase of almost two percentage points over the previous year. This increase is primarily attributable to changes at private financial institutions and cooperative banks. At ...

    2014| Elke Holst, Anja Kirsch
  • Diskussionspapiere 1215 / 2012

    The Impact of Introducing an Interest Barrier: Evidence from the German Corporation Tax Reform 2008

    In this study we investigate the impact of the thin capitalization rule (TCR), introduced in Germany in 2008, on firms' capital structure, investment and profitability. The identification of the causal effects is based on the escape clauses in the regulation using a difference-in-difference approach. Our results present evidence that firms strongly react in order to avoid the limited deductibility ...

    2012| Hermann Buslei, Martin Simmler
  • Diskussionspapiere 1295 / 2013

    The European Debt Crisis and Fiscal Reaction Functions in Europe 2000-2012

    After the global financial crisis, some governments in the EU experienced serious debt financing problems, while others were less affected. This paper seeks to shed light on the divergent fiscal performance by assessing the fiscal conduct in the EU countries before and after the outbreak of the crisis. Fiscal reaction functions of the primary balance are estimated for different groups of EU countries ...

    2013| Guido Baldi, Karsten Staehr
  • FINESS Working Papers 5.2 / 2010

    Foreign Bank Presence and Its Effect on Firm Entry and Exit in Transition Economies

    This study investigates the impact of foreign bank penetration in Central and Eastern Europe on firm entry. We demonstrate that the acquisition of domestic banks by foreign investors has led to reduced firm creation, smaller average size of entrants and increased firm exit in opaque industries compared to transparent ones. At the same time, the entry of greenfield foreign banks spurred firm creation ...

    2010| Olena Havrylchyk
  • FINESS Working Papers 3.2 / 2010

    Private Equity, Corporate Governance and Out-Performance of High-Growth Firms

    The paper investigates how Private Equity (PE) ownership influences out-performance of a high-growth firm, and whether it differs from the effect of two other important types of financial investors: banks and non-bank financial firms. We transform the levered return on equity into a unlevered return and empirically test on some 30 thousand high growth European firms whether Private Equity' or other ...

    2010| Oleg Badunenko, Moritz Fabien Karber, Dorothea Schäfer
860 results, from 831