This paper develops a Heckscher-Ohlin-type framework in which relative factor prices are affected by output prices as well as by total factor productivity growth. The empirical analysis finds no evidence that the relative prices of unskilled-labour- intensive manufactures, adjusted for total...

Comparing the unemployment insurance systems of the United States and of the United Kingdom it is shown that the US unemployment insurance (UI) is the only system that provides for a negative feedback between UI expenditures and layoffs (“experience rating”). The UK has no specific UI:...

This paper studies the impact of outsourcing on individual wages in three European countries with markedly different labour market institutions: Germany, the UK and Denmark. To do so we use individual level data sets for the three countries and construct comparable measures of outsourcing at the...

The purpose of this paper is to discuss major factors behind failures and successes in structural adjustment. The analysis includes the experience of four major European countries: France, Italy, the United Kingdom and West Germany. These countries are known for diverging performances. Germany...

Die Bundesrepublik und das Vereinigte Königreich sind in vieler Hinsicht vergleichbar: Beide sind fortgeschrittene Industrieländer, haben fast die gleiche Fläche und Einwohnerzahl, und der Unterschied im Pro-Kopf-Einkommen, wie ihn die Statistik ausweist, ist nicht sehr groß. Beide Länder...

The process of European integration has gained considerable momentum during the past couple of years. This paper provides an assessment of the degree of integration of both the accession states of central and eastern Europe and of the pre-ins for monetary union with respect to Germany. Using...

Redistribution differs widely across countries, but our understanding of why this is the case is limited. In democracies, the extent of redistribution should ultimately reflect citizens' preferences. We measure preferences for redistribution in six developed countries through internationally...

Information costs and regulatory barriers are the main distinguishing features of international financial markets as compared to national financial markets. This paper presents a simple model of the impact of these factors on banks' cross-border activities and provides empirical evidence. Our...

The prospects for labour supply in Europe are considered. The analysis begins with a so-called labour market balance covering the development on an aggregate level. Estimations to shed light on the relation between unemployment and labour force participation are given in the second part of the...