The 2002 prices of suppliers in German call-by-call telephone market are rather dispersed, out-of-phase (uncorrelated), and show systematic down-up movements. In 2004, these prices are less dispersed, more in-phase and show more upwards runs than downs-ups. In both years, we clearly do not...

This paper empirically analyzes whether the character-based approach, which is based on the personality structure and the human capital of business founders, allows prediction of entrepreneurial success. A unique data set is used consisting of 414 previously unemployed persons whose personal...

Standard measures of consumer price inflation are based on a bundle of representative goods. It is well known that this approach might overstate inflation for new products and products with fast increasing quality. For this reason, hedonic adjustment methods have been proposed and introduced in...

In many industrialized countries, the grocery-retailing sector exhibits a strong and increasing market concentration. Hence, it is important to understand retail pricing for many questions related to market power in the marketing chain and to agricultural and food policies. We analyze...

When monitoring, interpreting and assessing budget policy decisions and developments, the public authorities' financial balance has always played a prominent role. The Maastricht Treaty on European Union and the provisions contained therein on budgetary criteria and reference values gave rise to...

The traditional monetary policy transmission mechanism is based on the fact that, in the wake of a restrictive monetary policy stance, the interest rate rises and that therefore interest-rate-related variables, such as corporate asset formation, decline or increase less sharply than at the given...

The traditional monetary policy transmission mechanism is based on the fact that, in the wake of a restrictive monetary policy stance, the interest rate rises and that therefore interest-rate-related variables, such as corporate asset formation, dec1ine or increase less sharply than at the given...