Christian Bayer

Publikationen / Publications



  1. Bullet “Aggregate Investment Dynamics, when firms face fixed investment costs and capital market imperfections”, Journal of Monetary Economics , 2006, vol. 53(8), 1909-47.

  2. Bullet “Investment timing and predatory behaviour in duopoly with endogenous exit”, Journal of Economic Dynamics and Control, 2007, vol.31, 3069-3109.

  3. Bullet “On the interaction of financial frictions and fixed adjustment costs: Evidence from a panel of German firms”, Journal of Economic Dynamics and Control , 2008, vol.32(11), 3538-3559. 

  4. Bullet  "Wait-and-See’ Business Cycles?" (with R. Bachmann), Journal of Monetary Economics, 2013, vol. 60(6), 704-719.

  5. Bullet "Investment Dispersion and the Business Cycle" (with R. Bachmann), American Economic Review, 2014, vol. 104(4), 1392–1416.

  6. Bullet “Large Open Economies and Fixed Costs of Capital Adjustment“, (with Volker Tjaden) Review of Economic Dynamics, forthcoming.


  1. Bullet “A Comment on the Economics of Labor Adjustment: Mind the Gap? - Evidence from Monte Carlo Experiments”, American Economic Review, 2009, vol. 99(5), 2328-2336. 

  2. Bullet “Strategic unemployment”, (jointly with Julia Angerhausen and Burkhard Hehenkamp),  Journal of Institutional and Theoretical Economics, 2010, vol. 166(3), 439-461.

  3. Bullet “Convergence in West German Regional Unemployment Rates”, (jointly with Falko Jüssen), German Economic Review , 2007, vol. 8(4), 510-535.  

  4. Bullet “On the Dynamics of Interstate Migration: Migration Costs and Self-Selection”, (jointly with Falko Jüssen), Review of Economic Dynamics , 2012, Vol. 15(3), 377–401.

  5. Bullet “The Life Cycle and the Business Cycle of Wage Risk: A Cross-Country-Comparison” (with Falko Juessen), Economics Letters. 2012, Vol. 117(3), p. 831-833.
    Click here for an older Working Paper version, and here for the Technical appendix .

  6. Bullet “Happiness and the Persistence of Income Shocks” (with Falko Juessen), American Economic Journal: Macroeconomics, 7(4): 160-87.


  1. Bullet “A corporate governance reform as a natural experiment for incentive contracts” (jointly with Carsten Burhop), Schmalenbach Business Review, 2008, vol. 60(4), 378-399.

  2. Bullet “If only I could sack you! Management turnover and performance in large German Banks between 1874 and 1914”, (jointly with Carsten Burhop, Münster), Applied Economics Letters , 2009, vol. 16(2), 141-145.

  3. Bullet “Corporate governance and incentive contracts: Historical evidence from a Legal Reform", (jointly with Carsten Burhop),  Explorations in Economic History , 2009, vol. 46, 464–481. 

  4. Bullet “Combining Non-Cointegration Tests”, (with Christoph Hanck) Journal of Time Series Analysis , 2013, Vol. 34(1), p. 83-95.
    Click here for STATA and MATLAB codes, click here for the June 2012 version of the paper.