The present paper uses German annual data covering the period 1969-2000 to present evidence on the link between aggregate inflation and the higher-order moments of the distribution of relative price changes. Our empirical findings confirm predictions of contributions to the theoretical...

Discounting future costs and benefits is a crucial yet contentious practice in the appraisal of long-term public projects with environmental consequences. The standard approach typically neglects that ecosystem services are not easily substitutable with manufactured goods and often exhibit...

We explore the relationship between employee trust of managers and workplace performance. We present a theoretical framework which serves to establish a link between employee trust and firm performance as well as to identify possible mechanisms through which the relationship may operate. We then...

By analyzing a unique dataset from Germany's evaluation of COVID-19 antigen rapid tests, we show that Chinese firms can excel under today's global competition and produce tests at quality levels higher than China's income level would suggest. We find these achievements are positively associated...

By analyzing a unique dataset from Germany’s evaluation of COVID-19 antigen rapid tests, we show that Chinese firms can excel under today’s global competition and produce tests at quality levels higher than China’s income level would suggest. We find these achievements are positively...

The last couple of decades have seen an increased retail concentration around the world, particularly in Europe. Views on the welfare implications of this severe change are controversial. Consumers might benefit because larger stores (owned by larger retailer chains) offer more product choices....