The DIW Berlin microsimulation model of business taxation BizTax allows a representative and detailed analysis of the fiscal and distributional effects of business taxation in Germany. The model is based on extrapolated individual local business tax files. We simulate essential elements of the...

This paper examines long-term price overreactions in various financial markets (commodities, US stock market and FOREX). First, t-tests are carried out for overreactions as a statistical phenomenon. Second, a trading robot approach is applied to test the profitability of two alternative...

This paper provides some new empirical evidence on the weekend effect, one of the most recognized anomalies in financial markets. Two different methods are used: (i) a trading robot approach to examine whether or not there is such an anomaly giving rise to exploitable profit opportunities by...

One of the leading criticisms of the Efficient Market Hypothesis (EMH) is the presence of so-called "anomalies", i.e. empirical evidence of abnormal behaviour of asset prices which is inconsistent with market efficiency. However, most studies do not take into account transaction costs. Their...

This paper examines short-term price reactions after one-day abnormal price changes and whether they create exploitable profit opportunities in various financial markets. A t-test confirms the presence of overreactions and also suggests that there is an “inertia anomaly”, i.e. after an...

"The unemployment rate in East Germany has been almost twice as high as in West Germany since unification. At the same time, employment subject to social security contributions decreased markedly. We analyse how these developments are reflected in the careers of birth cohorts born between 1937...

"The unemployment rate in East Germany has been almost twice as high as in West Germany since unification. At the same time, employment subject to social security contributions decreased markedly. We analyse how these developments are reflected in the careers of birth cohorts born between 1937...

"'Marginal employment', i. e. employment with low working hours and earnings not covered by social security, has been gaining importance in the German economy over the past decade. Using a large newly available panel data set from the Employment Statistics of the Federal Employment Agency and...