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Diversifikationsvorteile verbriefter Immobilienanlagen in einem Mixed-Asset-Portfolio

This article examines whether international investors benefit from adding real estate investment trusts (REITs) to a mixed asset portfolio consisting of global stocks, bonds, hedge funds, and commodities. Previous literature has shown that REITs provide a strong co-movement with direct real estate in the long run. We therefore test the diversification potential of international REITs…

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Deutsch / 22/06/2011

Do German Welfare-to-Work Programmes Reduce Welfare Dependency and Increase Employment?

During the last decade, many Western economies reformed their welfare system with the aim of activating welfare recipients by increasing welfare-to-work programmes (WTWP) and job-search enforcement. We evaluate the short-term effects of three important German WTWP implemented after a major reform in January 2005
(‘Hartz IV'), namely short training, further training with a…

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Deutsch / 01/05/2011

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