Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

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...

This paper presents a puzzling finding: although France invests twice as much in intangible capital vis-à-vis Germany, both countries have similar LPG rates over the studied period from 1995 until 2020. We find that this difference in investments is driven by France's four- and...