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...

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...

After expanding in the 1970s, unionism in Britain contracted substantially over the next two decades. This paper argues that the statutory reforms in the 1980s and 1990s were of less consequence in accounting for the decline of unionism than the withdrawal of the state's indirect support for...