Employment effects of investment grants and firm heterogeneity
研究了德国投资补助对企业就业的因果效应，发现补助能促进就业增长，且效果因企业特征和经济环境而异，对政策制定者评估区域补助效果有参考价值。
This study estimates the firm-level employment effects of investment grants in Germany. In addition to the average treatment effect on the treated, we examine discrimination in the funding rules as a potential source of effect heterogeneity. We combine a staggered difference-in-differences approach with a matching procedure at the cohort level. The findings reveal a positive effect of investment grants on employment development. The subsample analyses yield strong evidence for heterogeneous effects based on firm characteristics and the economic environment. They highlight the responsibility of the local funding authorities to clarify ex ante which goals of a funding programme are most important in their regions.