Previous research exploring the effect of corporate leniency programs has modelled the oligopoly stage game as a Prisoners?Dilemma. Using numerical analysis, we consider the Bertrand price game and allow the probability of detection and penalties to be sensitive to firms?prices. Consistent with...

[Einleitung] Über die Einführung eines Unternehmensstrafrechts wird seit Jahren diskutiert. Unter Rechtswissenschaftlern ist die Einführung eines solchen Gesetzes umstritten - während die einen ein deutsches Strafrecht für Unternehmen für überfällig halten, bezeichnen andere sie als...

Over the course of the past twenty years, venture capital has fuelled an entrepreneurial revolution - first in the United States and now in Europe's common market -, which has opened new opportunities for technological innovation, capital investment and employment growth. Some of the most...

Strengthening potential output is high on the agenda for economic policy in the European Union. While there is widespread agreement that structural policies have a positive impact on long-term growth, there is a controversial discussion whether coordination of macroeconomic policies can...

In this paper, we present a disaggregated framework for the analysis of past and projected structural developments in the most relevant revenue and expenditure categories and the fiscal balance. The framework, in particular, distinguishes between the effects of discretionary fiscal policy and of...

This paper is the first attempt to investigate the performance of different learning rules in fitting survey data of household and expert inflation expectations in five core European economies (France, Germany, Italy, Netherlands and Spain). Overall it is found that constant gain learning...

Because of its relation to economic growth, there is a policy interest in mea- suring social capital and average trust as its currently most important proxy. Thereby a main focus is determining its variation across groups with different individual characteristics. In this paper we combine the...

This paper combines an economic experiment with survey data to investigate determinants of trust and trustworthiness in the Dutch society. We contrast the inferences which can be made on the trust propensity using stated and revealed measures and we test for participation bias in our experiment....