Community legislation is unquestionably a factor to be reckoned with in member-state policy making. But the extent and mode of its impact on domestic policies and administrative structures will depend on the existing policy practices and the political and institutional structures of the country...

Having established itself as a robust level of governance, the European Union now potentially affects its member states in more ways than ever before. Road haulage policy is an area in which a strong impact of European Union policy-making can be expected. Liberalisation at the European level...

The provision of utilities for all at an affordable price has long been regarded as a prerequisite for everyday life, generally guaranteed by the state. But in recent years, publicly-owned utilities throughout Europe have come under increasing fire for their poor performance - their lack of...

In this paper we analyze the money demand functions of the four largest EMU countries and of the four-country (EMU-4) aggregate. We identify reasonable and stable money demand relationships for Germany, France and Spain as well as the EMU-4 aggregate. For the case of Italy, results are less...

This paper provides micro-econometric evidence on the relevance of non-market interaction for the timing of initial public offerings (IPOs) in the French and German primary equity markets. The surge of IPO volume in the late 1990s appears to be consistent with rational expectations, not with...

Die starken Preissteigerungen für Benzin in den letzten 2 Jahren sind häufig auf mangelnden Wettbewerb zurückgeführt worden. Die These wird überprüft, indem die Wettbewerbsstruktur bei Tankstellen und deren Vorleistungsbeziehungen dargestellt werden und ökonometrische Schätzungen über...

This paper provides new evidence on Europe's experience with venture capital in the 1990s. Individual countries' activity is not solely determined by country characteristics and a purely domestic history, but also by a common European experience: the interdependence of valuations in primary...