This paper provides an explanation of why garbage as a measure of consumption implies a several times lower coefficient of relative risk aversion in the consumptionbased asset pricing model than consumption…
During recent years the question of legal standing of consumer associations in the course of private cartel damage claims has increasingly attracted attention within the European Commission (EC). The European…
Intangible assets constitute a major input and value-driver for multinational firms. Often, the related intellectual property does not have a clear geographical location and firms use this flexibility to…
The chemical industry in Germany is one of the most innovative sectors of the German economy. Four out of five chemical companies introduce innovations on a regular basis, and more than 60 per cent continuously…
The KfW/ZEW CO2-Barometer - developed as part of a cooperative project of KfW Bankengruppe and the Centre of European Economic Research (ZEW) - has been analysing the situation of German companies regulated…
The financial and economic crisis has stressed the need for a better understanding of destabilizing effects, in particular arising from the financial sector, and how these may spill over to economic activity. In…
Using firm-level data from the German manufacturing sector, we estimate a dynamic, structural model of the firm's decision to invest in R&D and quantify the cost and long-run benefit of this investment. The…
