Im Rahmen der Konzertierten Aktion zur Abfederung der Folgen der Energiepreiskrise hat die Bundesregierung 2022 den Unternehmen die Möglichkeit eingeräumt, ihren Beschäftigten bis Ende 2024 jeweils bis zu 3.000 Euro steuer- und abgabenfrei auszuzahlen. Mit dieser Maßnahme sollten die...

We study a model in which two players with opposing interests try to alter a status quo through instability-generating actions. We show that instability can be used to secure longer-term durable changes, even if it is costly to generate and does not generate short-term gains. In equilibrium,...

Given the unobserved nature of expectations, this paper employs latent variable analysis to examine three financial instability models and assess their out-of-sample forecasting accuracy. We compare a benchmark linear random walk model, which implies exogenous instability phenomena, with a...

This paper provides a compact summary of the evidence on capital structure instability and a case-based exploratory investigation of sources of such instability. Substantial instability in capital structure is the norm at publicly held nonfinancial firms. Firm-specific episodes of leverage...