This paper explores the sources of variation in state redistribution across 13 developed democracies over the 1979-2000 period, drawing upon data from the International Institute for Democracy and Electoral Assistance, the Luxembourg Income Study and the Comparative Study of Electoral Systems....

We test the hypothesis that more progressive redistribution contributes to emission reductions with the aid of fixed-effects estimation technique. Using a panel of 16 West European countries over the period 1990-00, we regress emission levels of four different air pollutants on two alternative...

We explore the relationship between CDS premia and bond asset swap spreads on the same reference entity. As Duffie (1999) shows, there is a clear theoretical link between CDS premia and bond prices if the two quantities are viewed as a pure measure of credit risk. However, many studies provide...

The trading of securities on multiple markets raises the question of each market's share in the discovery of the informationally efficient price. We exploit salient distributional features of multivariate financial price processes to uniquely determine these contributions. Thereby we resolve the...

In this paper, we identify and document the empirical characteristics of the key drivers of convertible arbitrage as a strategy and how they impact the performance of convertible arbitrage hedge funds. We show that the returns of a buy-and-hedge strategy involving taking a long position in...

Our study extends research on the feminization of poverty by analyzing the variation in women's, men's and feminized poverty across affluent democracies from 1969 to 2000. Specifically, we address three issues. First, we provide more recent estimates of adult women's and men's poverty and the...

High rates of corporate taxation reduce corporate investment and thereby depress local wages. Using cross-country data from the Luxembourg Income Study, I estimate that a ten percentage point increase in the corporate tax rate of high-income countries reduces mean annual gross wages by seven...

Since its first publication in 1990, Esping-Andersen's typology of 'The Three Worlds of Welfare Capitalism' has loomed incomparably large over the area of comparative social politics. This paper uses the concept of stability, researching comprehensively whether the construct 'Three Worlds of...

In many OECD countries income inequality has risen, but surprisingly re-distribution as well. The theory attributes this partly to the redistributive effect of education spending. In the model income inequality and growth depend in an inverted U-shaped way on education. To maintain a given level...