Showing 1 - 10 of 16
This paper considers the likely impact that European Union (EU) will have on the labor compact. It is argued that … integration will place on the labor compact. Evidence is presented suggesting that labor mobility among EU countries has not … increased after the elimination of remaining restrictions on intra-EU labor mobility in 1993. Moreover, immigration from non-EU …
Persistent link: https://www.econbiz.de/10012471320
At a time of historic challenges to the viability of the Eurozone, we assess the contribution of the EU and the Euro to … segmentation is significantly lower for EU versus non- EU members. Bilateral valuation differentials remain lower for EU members …, financial regulation, and interest rate differences. Importantly, we find that EU membership reduces equity market segmentation …
Persistent link: https://www.econbiz.de/10012462074
This paper explores price differences in the European Union (EU) pharmaceutical market, the EU's fifth largest industry …. With the aim of enhancing quality of life along with industry competitiveness and R&D capability, many EU directives have … been adopted to achieve a single EU-wide pharmaceutical market. Using annual 1994-2003 data on prices of molecules that …
Persistent link: https://www.econbiz.de/10012462395
A common European bond would yield a common European Monetary Union risk free rate. We present tentative estimates of this common risk free for the European Monetary Union countries from 2004 to 2009 using variables motivated by a theoretical portfolio selection model. First, we analyze the...
Persistent link: https://www.econbiz.de/10012463297
Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral banking linkages among twenty industrial countries in the...
Persistent link: https://www.econbiz.de/10012463615
This paper provides novel empirical evidence on the private value of patents and R&D in European firms during the period 1991-2004. We explore the relationship between firm's stock market value, patents, and "quality"-weighted patents issued by the European Patent Office (EPO) and the US Patent...
Persistent link: https://www.econbiz.de/10012465223
EU institutions, and lack of transparency and accountability. This dirigiste culture produces verbose rhetoric, which …
Persistent link: https://www.econbiz.de/10012468351
within the EU and how this changed between 1980 and 2008. We present several novel empirical regularities that paint a … heterogeneity within member states themselves, or in well functioning federations such as the US, cultural diversity across EU …
Persistent link: https://www.econbiz.de/10012455356
As a compromise between the status quo and a U.S. style fiscal union we highlight a series of measures which amount to partial fiscalization. These include: a banking union; a tax union; a capital markets union; a social security union; an energy union; and a military union. These fiscalizations...
Persistent link: https://www.econbiz.de/10012455461
This paper discusses the process of European institutional integration from a political-economy perspective, linking the long-standing political debate on the nature of the European project to the recent economic literature on political integration and disintegration. First, we introduce the...
Persistent link: https://www.econbiz.de/10012457417