The acquisition of ownership rights by a firm in its suppliers is a common feature in various industries. Often, these acquisitions are reduced to a participation in the target's cash flow, and not associated…

We analyze the stability of ambiguity preferences experimentally, by repeatedly eliciting ambiguity attitudes towards multiple 3-color Ellsberg urns over a period of two months. 57% of the choices show stable…

• Economic Outlook for Switzerland: Expectations Improved Solidly, but Remain at Depressed Levels
• Current Economic Situation: Indicator Remains Unchanged
• Inflation Expectations: Stability Expected
• Short-Term Interest…

We examine the role of political fractionalization in understanding the "resource curse". Using panel data for 30 oil-rich countries, we find that the income effect of resource rents is moderated by the…

• Economic Outlook for Switzerland: Expectations Improved Further and Are Now Balanced
• Current Economic Situation: Slightly Better Indicator
• Inflation Expectations: Risks on the Upside
• Short-Term Interest Rates:…

This article traces Romania's development to a low-tax country among the member states of the European Union by analysing the major tax law changes in corporate taxation since 1992. We compute and compare the…