We analyze the dynamics of zero-coupon bond options in a situation in which the currently floating exchange rate between two countries' currencies is announced to be fixed on a given future date. To this end, we combine two strands of research that have been treated as separate issues up to...

From a public finance perspective, the article discusses alternative allocation policies for public broadcasting. Referring to a scheme for the optimal procurement of public goods two solutions are shown to be optimal, depending on the initial situation: Assuming a public service mission, public...

Downward nominal wage rigidity (DNWR) could prevent real wage adjustments in times of low inflation rates. Nominal wage rigidity based on annual wages can at least be reduced, if the number of working hours is considered. This leads to a lower degree of DNWR in hourly wage changes. In this...

This paper is concerned with the question of how to deal with Google Shopping’s position on online markets in order to prevent harm to public welfare. From the perspective of sellers and buyers of goods and services in Germany, Google can be seen as a gatekeeper to the Internet and thus as an...