According to economic analysis, common-law courts resolve individual legal disputes and create new, judge-made law. In this article, I study both functions in a civil-law context by analyzing data for nine German labor courts of appeal (Landesarbeitsgerichte) in the period 1980-1996. Output of...

Controlling the performance of employed physicians, university professors, or tenured judges is a difficult managerial problem, because these professionals perform complex tasks that are hard to measure and because many of the economic incentives common to private-sector employees do not apply...

Der vorliegende Beitrag argumentiert, daß die regionale Arbeitsmarktsituation (Zugänge in Arbeitslosigkeit und Zugänge an freien Stellen) die Entscheidung von Arbeitnehmern, eine Kündigungsschutzklage einzureichen, deutlich beeinflußt. Regressionsanalysen mit amtlichen Daten für die...

This paper considers the role of foreign investors in developed country equity markets. It presents a quantitative model of trading that is built around two new assumptions about investor sophistication: (i) both the foreign and domestic populations contain investors with superior information...

National employment systems are changing primarily through the activities of multinational enterprises (MNEs). In order to understand in how far national employment systems are susceptible to change, we revisit important quantitative empirical studies published since 1994 on the transfer of...

This paper studies a New Keynesian business cycle model with agents who are averse to ambiguity (Knightian uncertainty). Shocks to confidence about future TFP are modeled as changes in ambiguity. To assess the size of those shocks, our estimation uses not only data on standard macro variables,...

Durch Marken- und Produktpiraterie entstehen grosse volks- und betriebswirtschaftliche Schaeden. Da die Moeglichkeiten des gewerblichen Rechtsschutzes zu deren Bekaempfung alleine nicht ausreichen, bestehen unternehmerische Schutzsysteme aus Buendeln an juristischen, betriebswirtschaftlichen,...