We present a dynamic general equilibrium model with agency costs, where heterogeneous firms choose among two alternative instruments of external finance - corporate bonds and bank loans. We characterize the financing choice ...

The most important policy instruments of the Bundesbank and of the coming European Central Bank involve lending to domestic credit institutions. In this monetary setup, banks use short-term central bank credits extensively ...

This paper investigates determinants of changes of the labor share in developed countries with a focus on Western Europe. Using a country-industry panel that covers the private sector, the paper focuses on long and short-run ...

In der vorliegenden Arbeit wird die behindertenfreundliche Nutzung der Berliner Öffentlichen Bibliotheken untersucht. Im Mittelpunkt stehen dabei die Barrieren, auf die Mobilitätsgeschädigte, sehbehinderte und blinde sowie ...

We present a new way to model age-specific demographic variables with the example of age-specific mortality in the U.S., building on the Lee-Carter approach and extending it in several dimensions. We incorporate covariates ...