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With nominal wage rigidities, it is crucial to distinguish whether wages are set by workers or firms — whether we have monopoly or monopsony power. This paper provides a model of monopsony power in the labour market and a monopsonistic Phillips Curve. If w ...
In order to describe magnetogenesis during inflation in the kinetic coupling model, we utilize a gradient expansion which is based on the fact that only long-wavelength (superhorizon) modes undergo amplification. For this purpose, we introduce a set of fun ...
Digital technologies are enabling the transformation of the established market boundaries and business models of the cinema industry, bringing opportunities for a reconfiguration of the conceptual framework of movie content distribution through movie theat ...
We solve a portfolio choice problem when expected returns, covariances, and trading costs follow a regime-switching model. The optimal policy trades towards an aim portfolio given by a weighted-average of the conditional mean-variance-efficient portfolios ...
The soil water retention curve (WRC), describing the relation between the soil water content and its corresponding capillary pressure, relies not only on whether drying or wetting occurs but also on the pore scale water flow velocity. Here, we investigated ...
The participation of societal actors has been advanced as the gold standard of sustainability assessment processes and is thought essential to dealing with the plurality of normative claims surrounding sustainability and the need to take decisions in a con ...
This thesis consists of three parts that study separate subjects in corporate finance and corporate governance. The overarching theme is ownership by CEOs and other insiders.In the first part, which is co-authored work with Rüdiger Fahlenbrach, René M. ...
The output of physical systems, such as the scrambled pattern formed by shining the spot of a laser pointer through fog, is often easily accessible by direct measurements. However, selection of the input of such a system to obtain a desired output is diffi ...
We interpret the recent NANOGrav results in terms of a stochastic gravitational wave background from metastable cosmic strings. The observed amplitude of a stochastic signal can be translated into a range for the cosmic string tension and the mass of magne ...
Due to its theoretical virtues, several recent works propose the use of the incentive-compatible Vickrey-Clarke-Groves (VCG) mechanism for electricity markets. Coalitions of participants, however, can influence the VCG outcome to obtain higher collective u ...
