We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported their parents through internal lending, became financially constrained...

We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported their parents through internal lending, became financially constrained...

The decline of human fertility that occurred in Europe and North America in the nineteenth century, and elsewhere in the twentieth century, remains a topic of debate largely because there is no accepted explanation for the event. Disagreement persists in part because researchers have rarely used...

We assess how changes in youth cohort sizes effect employment rates in German labour market regions. Replicating the conventional approach, we estimate that a percentage increase in the youth share reduces regional employment rates by −0.2%. We challenge the assumption that cohort size effects...

This paper seeks to quantify all public and private interage monetary flows in Germany applying the National Transfer Account method. Germany's lifecycle deficit is shaped by long periods spent in education, early retirement, and low labor force participation rates among the older work force,...

In their contributions to the debate on exceptional longevity, several scholars have noted the existence of spatial hot spots, or areas with a high concentration of individuals who have survived to very high ages (e.g. Sardinia in Italy or Okinawa in Japan). However, most of these studies were...

Studies that have investigated the role of unemployment in childbearing decisions have often provided conflicting results. We argue that many of the inconsistencies of prior research may be attributed to a neglect of group-specific differences in behavior. In this study, we examine how the...

Family policies aim to influence fertility and labor force participation, and support families. However, often only fertility and labor supply are considered in policy evaluations. For example, the 2007 extension of parental leave benefits in Germany is generally considered unsuccessful because...

The economic stress hypothesis (ESH) suggests that economic decline leads to a decrease in the proportion of males born in a population. A multitude of additional influences on sex ratios that often cannot be accounted for empirically make assessing the validity of the ESH difficult. Thus, as a...

The challenges women face in reconciling their work and family responsibilities are at the heart of current explanations concerning the low fertility levels in developed countries. This study examines the role of the outsourcing of household labor and of childcare responsibilities in reducing...