Efficiency wage effects of profit sharing are combined with option values related to stochastic future pofit variations. These option effects occur if the workers' profit share is fixed by long-term contracts. The Pareto-improving optimal level of the sharing ratio is calculated for two...

Over the years Russia has become one of the most important partners of the European Union. Due to this fact a more democratic and modern Russia would have great benefits for the EU and might contribute to the stabilization of the European continent. But existing problems like terrorism,...

In many industrialized countries, the grocery-retailing sector exhibits a strong and increasing market concentration. Hence, it is important to understand retail pricing for many questions related to market power in the marketing chain and to agricultural and food policies. We analyze...

Private and collective enterprises are expected to increase overall efficiency in transitional China, partly because they are more efficient than state owned enterprises. More importantly, this paper argues, they induce efficiency gains in state owned enterprises and the economy as a whole....

At the Uruguay Round, tariff rate quotas (TRQs) were intended to serve two purposes: first, to prevent that tariffication would lead – at least on the short term – to a deterioration of market access and second, to create new, minimum market access. The since then observed fill rates do not...

Using a fixed-effects panel data approach, FDI flows of 22 OECD countries are explained by gravity equations over the period 1991-2001. It is distinguished between all available observations, Intra-EU25 observations only, and observations not belonging to the EU25 area in order to control for...