Using the introduction of the euro as a natural experiment, we provide economy-wide evidence for money illusion based on declared donations from German admin-istrative income tax data. Our results suggest a…

This paper addresses the puzzle how employers that invest in general human capital can gain an information advantage with respect to the ability of their employees when training is certified by credible external…

• Opportunity or Threat? Digitalisation Will Transform the Future of Work
• Unilateral Environmental Regulations Encourage the Relocation of Production
• Only Comprehensive Sustainability Strategies Pay off for…

This article investigates mean risk hedging with respect to limited liquidity and studies the impact of different risk measures on the hedging strategies. For motivation and application purposes hedging in…

The European Court of Justice (ECJ) has become an influential player in the field of direct taxation in the European Union in the past twenty years. However, it is unclear whether the ECJ's decisions actually…

• Erneuter Rückgang der Konjunkturerwartungen
• Eurozone: Fortsetzung der Niedrigzinspolitik erwartet
• USA: Leitzinserhöhung zeichnet sich immer deutlicher ab
• Japan: Lageeinschätzung verschlechtert sich erstmals seit…

Experten erwarten keinen Abschluss eines verbindlichen Klimaabkommens in Paris

Versorgungssicherheit wird unterbewertet

• Einschätzungen zum Fokus der Energiepolitik in Deutschland

Energiepreise stagnieren…

• Economic Outlook Expectations Brighten Again
• International Financial Market Data - Assessments and Expectations
• Inflation Uncertainty Picks Up Again
• Stable Swiss Franc Against the Euro
• Rising Long-Term Interest…

A sizeable literature studies whether governments strategically interact with each other through policy-diffusion, learning, fiscal and yardstick competition. This paper asks whether, in the presence of direct…

Contrary to previous literature we hypothesize that interests of labor may well – like that of shareholders – aim at securing the long-run survival of the firm. Consequently, employee representatives on the…