This study investigates the extent of labour market competition among native Dutch workers and ethnic minorities, using national survey of the SEO and the Population statistics of the CBS. Firstly, the direct effect of immigrants on local labour markets is considered. It is shown that ethnic...

This paper tests the policitcal dimensions of the presidential cycle effect in U.S. financial markets. The presidential cycle effect states that average stock market returns are significantly higher in the last two years compared to the first two years of a presidential term. We confirm the...

Legislation affects corporate governance and the return to human and financial capital. We allow the preference of a political majority to determine both the governance structure and the extent of labor rents. In a society where median voters have relatively more at stake in the form of human...

This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms. The theoretical literature on the institutional basis for...

In a democracy, a political majority can influence both the corporate

This paper surveys migration to and from the Netherlands since the sixteenth century with an emphasis on the post-war period. Existing studies on the labour market performance of immigrants and ethnic minorities are considered and some new results from our recent research are presented. <BR><BR>

We show how small initial wealth differences between low skilled black and white workers can generate large differences in their labor-market outcomes. This even occurs in the absence of a taste for discrimination against blacks or exogenous differences in the distance to jobs. Because of the...

Using two Dutch labour force surveys, employment assimilation of immigrants is examined. We observe marked differences between immigrants by source country. Non-western immigrants never reach parity with native Dutch. Even second generation immigrants never fully catch up. Caribbean immigrants,...

Previous research shows that ethnic minority students perform poorer in school when they are taught by ethnic majority teachers. Why this is the case was unclear. This paper focuses on one important potential explanation: I examine whether ethnic majority teachers grade minority and majority...

We first demonstrate that, within a fully integrated economy (FIE) in which there is free mobility of goods and factors, each FIE member's share of total FIE output will equal its shares of the total FIE stock of each productive factor. This equal-share property implies that, if economic...