Subsidised employment is an important tool of active labour market policies to improve the chances of the unemployed to find permanent employment. Using informative individual administrative data we investigate the effects of two different schemes of subsidised temporary employment implemented...

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 derived for each period from a first order approximation of the mean of the dependent...

Many European countries entertain considerable active labour market policies (ALMP) to increase the reemployment chances of the unemployed. Since policies are very costly the pressure for scientific evaluations of the single programmes that are part of the ALMP increases. This paper surveys...

Um zu zeigen, dass wirtschaftliche Aktivitäten dem Gemeinwohl dienen, wird als normative Referenz im allgemeinen das Pareto-Kriterium verwendet. Dieses lässt sich auch in begrenztem Rahmen zur Rechtfertigung politischer Entscheidungen nutzen. Damit solche Entscheidungen getroffen werden...

Antidumping has become the dominant instrument for temporarily restricting imports. There is need for concern, as it represents a particularly distorting trade policy measure. Many observers have made suggestions on how to improve the current situation. These sug-gestions aim at restraining...

Underconsumption theories played an important part in the economic policy debates during the Great Depression of the 1930s. The commonsense appeal of the arguments and the clear cut policy advice secured their proponents' popular support. Here, the contributions of John A. Hobson, Emil Lederer,...

Moral considerations may matter much in voting because the costs of expressing support for a morally worthy cause may be low in a referendum. These costs depend on whether a voter expects to affect the outcome of the referendum. To test the low-cost theory of expressive voting, we experimentally...

A model of start-up finance with double moral hazard is proposed. Entrepreneurs have ideas but lack own resources as well as commercial experience. Venture capitalists provide start-up finance and managerial support. Both types of agents thus jointly contribute to the firm's success, but neither...

Transatlantic trade disputes seem to be a rising concern. According to the most critical voices, they provoke notable "trade wars" and crucially impair the credibility of the WTO dispute settlement mechanism. In this paper, we suggest that such conclusions are unwarranted. Violation of WTO...

In this paper nonparametric instrumental variable estimation of local average treatment effects (LATE) is extended to incorporate confounding covariates. Estimation of local average treatment effects is appealing since their identification relies on much weaker assumptions than the...