We use a major shift in the legal and institutional environment to identify contractual incentives from the correlation of executive pay and performance. We take the reform of the German stock companies act in 1884 as such a major shift, and estimate the sensitivity of pay to performance between...

Alleviating the consequences of the war were at the center of social policy during the early years of the young republic. Yet up to 1956 pensions rose only slowly and irregularly so that old-age poverty remained widespread. The transition to a dynamic pension system based on gross earnings with...

Throughout the period 1871-1938, the average British worker was better off than the average German worker, but there were significant differences between major sectors. For the aggregate economy, the real wage gap was about the same as the labour productivity gap, but again there were important...

Die Publikation untersucht auf Grundlage bisher unberücksichtigter Quellenbestände erstmals eingehend Inhalt und Entstehungshintergründe des wirtschaftspolitischen Sofortprogramms des ersten Kabinetts Helmut Kohls. Dabei wird deutlich,welchen Einfluss die besondere Situation zwischen der...