Climate change is increasing the frequency of natural disasters, which could make municipal bonds a riskier asset class. We study the effects of natural disasters on municipal bond returns, exploiting the repeat sales approach to overcome the challenge that municipal bonds trade extremely...

This report investigates the link between farm innovation and economic performance. The study uses a unique survey dataset maintained by Wageningen Economic Research in the Netherlands. A structural multi-stage model of firm-level innovation is applied. The model contains four steps: first, the...

Zusammenfassung Der vorliegende Beitrag diskutiert die optimale Organisation der Wasserversorgung unter Berücksichtigung der grundlegenden Gutscharakteristika und der spezifischen Produktionsstruktur. Es wird versucht, die Bestimmung der optimalen Betriebs- und Angebotsorganisation unter...

The decoupling of direct payments from production introduced in the reform of the Common Agricultural Policy is expected to make production decisions more market-oriented and farmers more productive. However, ex-post analyses of the productivity of farms have yet to uncover any evidence of a...

Dual elasticities of substitution from a distance function model of the food retailing establishment are developed based on multiple performance measures integrated with store characteristics, staffing decisions, and employee benefits and incentives. The impacts of organizational and competitive...