National labour market institutions interact across national boundaries when product markets are global. Labour market policies can thus entail spill-overs, which suggests that there are benefits from international policy coordination. This paper studies the effects of wage subsidies in an...

The paper generalizes Feldstein's criticism (Perceived Wealth in Bonds and Social Security, 1976) of Barro's analysis (Are Government Bonds Real Net Wealth?, 1974) for the case that the interest rate exceeds the growth rate. This is done by considering an economy in steady state where all agents...

A stochastic model for pure-jump diffusion (the compound renewal process) can be used as a zero-order approximation and as a phenomenological description of tick-by-tick price fluctuations. This leads to an exact and explicit general formula for the martingale price of a European call option. A...

The authors solve a linear problem where a potential conflict between two agents (Destination manager and Firm) arises in a tourism destination. Destination manager has to choose how to allocate limited resources (capital and land) between either second homes or hotels. This conflict stems from...

Emotionen sind ein wichtiges Gebiet in der Marketingforschung, da sie in der Kaufsituation das Kundenverhalten bestimmen können. Emotionale Veränderungen aufgrund des Alterungsprozesses sind ein weiteres wichtiges Forschungsgebiet. Bis heute besteht bezüglich der Kombination dieser...

Die Wiederverwendung oder stoffliche Verwertung von Altprodukten, Verpackungen und Abfallstoffen ist oft nur dann sinnvoll, wenn diese in möglichst homogenen Objektsorten bzw. Materialfraktionen vorliegen. Dies erfordert entweder eine sortenreine Kollektion der Objekte schon durch die...

We present a model of a multi-species fishery and show that (i) consumer preferences for seafood diversity may trigger a sequential collapse of fish stocks under open-access fishery, (ii) the stronger the preferences are for diversity the higher is the need for coordinated multi-species...

We examine how competition in international markets affects a union's choice of wage regime which can be either uniform or discriminatory. Firms are heterogenous with regard to international competition. When unions choose their wage regimes sequentially, a discriminatory outcome becomes more...