We investigate the effects of a Financial Transaction Tax (FTT) in an order-driven artificial financial market. FTTs are meant to limit short-term speculative behavior by reducing the amount of excess liquidity in the system. To quantify these effects, adjustments in trading strategies and their...

We test for different theories purporting to explain cross-country differences in income redistribution through standardized experimental choices. US Americans and Italians demand less redistribution than Norwegians and Germans, regardless of whether self-interest is relevant. Those earning (or...

The claim of globalization critics that the income gap to industrial countries is bound to widen for essentially all developing countries as a consequence of economic globalization is in conflict with empirical evidence. Economic performance differs tremendously across developing countries. We...

We provide an experimental test of theories to explain differences in redistribution preferences across countries. We involved participants in standardized situations of redistribution in four Western countries, varying the relevance of self-interest and uncertainty over initial earnings. Demand...

The rise of economic inequalities in advanced economies has been often linked with the growth of spatial inequalities within countries, yet there is limited comparative research that studies the relationship between national and subnational economic inequality. This paper presents the first...

We study return predictability of stock indexes of blue chip firms and smaller hightechnology firms in Germany, France, and the United Kingdom during the second half of the 1990s. We measure return predictability in terms of first-order autocorrelation coefficients, and find evidence for return...

Using data for German and Swedish multinational enterprises (MNEs), this paper assesses international employment patterns. It analyzes determinants of location choice and the degree of substitutability of labor across locations. Countries with highly skilled labor forces attract German MNEs, but...