ZEW Discussion Papers

Most of the existing empirical literature on the relationship of firm value and knowledge capital is based on the stock market valuation of companies. However, the assets of many firms are not publicly traded,…

It is often noted that employment rates of females have been rising during the last decades. However, in contrast to men, women are often part-time employed and the allocation of working time over the life-cycle…

The official view on ECB monetary policy claims that monetary decisions are based solely on average data for the euro zone and that diverging regional developments are disregarded. However, experience from other…

Using information on family background, we estimate returns to education, allowing for the heterogeneity of returns. In order to control for the unobserved heterogeneity shared by family members, we construct a…

Several recent papers have shown the relevance of collective models for the empirical investigation of household labor supply and consumption. Yet the estimation of collective models in the presence of…

We propose four different GMM estimators that allow almost consistent estimation of the structural parameters of panel probit models with fixed effects for the case of small T and large N. The moments used are…

This paper compares technologies across space and time on the basis of factual and counterfactual substitution elasticities and argues that differences in estimated substitution elasticities should be decomposed…

The study provides evidence for the rationale of wage rigidity in Germany compared to the United States. Based on a survey of 801 firms, we extend the study of Campbell and Kanlani (1997, this journal) by using…