Most observers have concluded that while money markets and government bond markets are rapidly integrating following the introduction of the common currency in the euro area, there is little evidence that a similar integration process is taking place for retail banking. Data on cross-border...

Can patent protection and product market competition complement each other in enhancing incentives to innovate? In this paper, we address this question by investigating how innovation responses to a substantial policy initiative increasing product market competition interact with the strength of...

There is now a substantial body of economic research that models the behavior of labor unions as maximization of a well defined objective function. This paper presents both a selective critical survey of this literature and a preliminary consideration of some important problems that have not...