I show that in linear rational expectation models, the effect of a monetary tightening can be simulated using contemporaneous and anticipated monetary policy shocks that replicate the forward curves observed during the period of interest, normalized with the forward curve observed in the quarter...

Past research shows that firms with constrained access to debt are more likely to withdraw from exporting. We argue that a firm's debt maturity structure (i.e., the short-term/long-term debt mix) also matters because short-term debt entails liquidity risk and long-term debt entails higher costs....

Policies supporting small businesses are popular among policymakers but often criticised by economists for their potential to distort the economy. This paper provides a comprehensive evaluation of a unique policy that subsidises the first employee. Empirically, we find that the policy led to a...

Das Institut für Volkswirtschaftslehre der Leuphana Universität Lüneburg (Fakultät Staatswissenschaften) legt hiermit seinen neunzehnten eigenständigen Forschungsbericht vor. Wir möchten mit unserem Bericht alle Interessenten an unserer wissenschaftlichen Arbeit in kompakter Form über die...