Die Mercedes A-Klasse ist im Oktober 1997 bei einem so genannten Elchtest in Schwedenumgekippt. Die Ursachen waren hauptsächlich ein zu hoher Schwerpunkt und eineschlechte Bereifung. Die Konsequenzen dieses Ereignisses waren verheerend. Eine starkeSchädigung des Firmenimages und niedrige...

The unfolding financial turmoil in mature economies has prompted the official and private sectors to reconsider policies, business models and risk management practices. Regardless of its future evolution, it already threatens to become one of the defining economic moments of the 21st century....

The global financial crisis that began in mid-2007 has renewedconcerns about financial instability and focused attention onthe fundamental role of central banks in preventing andmanaging systemic crises. In response to the turmoil, centralbanks have made extensive use of both new and existing...

In this paper, we assess the effects of changes to the primarycredit facility since August 2007 by performing out-of-samplesimulations based on a model developed by Artuç andDemiralp (2008). Our results are highly consistent with thepredictions of our 2008 study—that is, the revised...

This article tests the modell of Brander and lewis under ertrand and Cournot competition.

A popular view of limited liability in financial contracting is that it is the result of societal preferences against escessive penalties. The view of most financial economists is instead that limited liability emerged as an optimal institution when, in the absence of a clear limit on economic...