We analyze the effects of the unprecedented rise in trade between Germany and the East - China and Eastern Europe - in the period 1988 - 2008 on German local labor markets. Using detailed administrative data, we exploit the cross-regional variation in initial industry structures and use trade...

Previous empirical evidence which evaluated the accuracy of management earnings or sales forecasts consistently revealed these forecasts to be on average signi cantly overoptimistic. However, all studies analyzed forecasts from public disclosures, which are an important signal to investors and...

In der heutigen Wissens- und Informationsgesellschaft sind Innovationen elementar für die wirtschaftliche Entwicklung. Jedoch kann die privatwirtschaftliche Innovationstätigkeit aufgrund des Vorliegens von Marktunvollkommenheiten aus gesamtgesellschaftlicher Sicht zu gering ausfallen. Dies...

The long-term earnings losses of displaced workers are substantial. We investigate the role of post-displacement occupational matching in explaining the cost of job displacement. We combine German administrative data on the work history of displaced workers with information on the task content...

It has become common within the literature of skill-biased technological change to look at technologies, as well as their impact on the demand for labor as homogeneous across industries. This paper challenges this view. Using a linked employer-employee panel of Germany differentiated by...

In der heutigen Wissens- und Informationsgesellschaft sind Innovationen elementar für die wirtschaftliche Entwicklung. Jedoch kann die privatwirtschaftliche Innovationstätigkeit aufgrund des Vorliegens von Marktunvollkommenheiten aus gesamtgesellschaftlicher Sicht zu gering ausfallen. Dies...

There is an ongoing debate about the economic effects of individualism. We establish that individualism leads to better educational and labor market outcomes. Using data from the largest international adult skill assessment, we identify the effects of individualism by exploiting variation...

There is an ongoing debate about the economic effects of individualism. We establish that individualism leads to better educational and labor market outcomes. Using data from the largest international adult skill assessment, we identify the effects of individualism by exploiting variation...

When workers are displaced from their jobs in mass layoffs or firm closures, they experience lasting adverse labor market consequences. We study how these consequences vary with the amount of skill mismatch that workers experience when returning to the labor market. Using novel measures of skill...