ZEW Discussion Papers

Should the constitution of a federation allow for peaceful secession ? Constitutionally defined secession rules are optimal ex post if the federation breaks down. However, they may be suboptimal ex ante if the…

The Kyoto Protocol marks a break-through in global warming mitigation policies as it sets legally binding emissions targets for major emitting regions. However, realisation of the Protocol depends on the…

We analyze a two-period model, where risk-averse students divide their time between risky education, leisure and work. The education can migrate. Wage-tax financed transfer to students acts as an insurance, and…

This study provides detailed evidence on the recent transitionstate of Central and Eastern European (CEE) countries. It draws on data froma survey conducted among portfolio managers ofWestern investment funds…

Policy interventions in large open economies do not only affect the allocation of domestic resources but change international market prices. The change in international prices implies an indirect secondary…

The study assesses net employment effects of technical progress which can be expected by the ongoing transition from end-of-pipe technologies towards cleaner production. Empirical evidence is presented on the…

The paper deals with the question which determinants can explain regional differences in the number of start-ups in Austrian and Western German districts when observing the business related service sector. We…

This study analyzes portfolio recommendations of financial experts, finding significant differences in portfoliostructure depending on the experts'institutional background. The recommendations stem from a survey…