This paper discusses the pricing of GDP-linked financial products. GDPlinked bonds for instance are bonds which pay a coupon tied to the changes of GDP (Gross Domestic Product): if economic growth is low, the…

This paper investigates how local jurisdictions in a federal system influence each other in the adoption of policy innovations. We look at school districts in Michigan and their participation in a public…

This paper analyses whether wages in Germany respond to firm-specific profitability conditions. Particular emphasis lies on the question of whether the extent of rent-sharing varies across different systems of…

This study analyses the competence gaps of lower-level managers in a typical manufacturing plant in Germany that had recently introduced a teamwork structure. Results indicate that the managers have…

In Germany, the medium-term financial planning (“Mifrifi”) was introduced at the end of the sixties. This study scrutinizes the experience of the German Bund with more than thirty years of financial planning. …