Special Question in ZEW Financial Market Survey: Reverse Mortgages in Germany
Reverse mortgages are a type of mortgage loan that allows homeowners to receive monthly payments based on the value of their homes while retaining ownership of the property and continuing to live in their homes. This is of particular benefit for pensioners who are given the opportunity to supplement their income during retirement. In contrast to regular mortgages, reverse mortgages allow older people to defer the interest or repayment rates of the loan. Upon the expiration of the contract, borrowers are paid out on the basis of the property value. Homeowners also have the option to repay the credit. First introduced in the United States, reverse mortgages are becoming more and more popular among US citizens. Nevertheless, the overall level of significance in the mortgage market remains low.
Germany is still one of the highest taxed countries when it comes to corporation tax. This has been confirmed by international comparisons conducted by ZEW and the German Council of Economic Experts. As a result, Germany is becoming less and less attractive as a business location.
The conference objective is to discuss recent scientific contributions on econometric evaluation research in different fields of economics. Theoretical, empirical, experimental and policy oriented contributions are welcome.
New firms are an important trigger for the generation and diffusion of new products and processes. If successful, new firms contribute significantly to the creation of jobs and to economic growth. However, new firms are subject to a greater risk of failure as compared to established firms. While there is considerable evidence on entry and growth of surviving firms, the risk and especially the virtue of firm failure and firm exit has attracted less research effort. The aim of the workshop is to address this issue. A special focus of the workshop is on the impact of firm failure on the subsequent start of a new firm, i.e. on serial entrepreneurship. It will also take a look at the phenomenon of starting up and managing more than one new firm, i.e. on portfolio entrepreneurship.