I evaluate the impact of the UK Working Time Regulations 1998, which introduced mandatory paid holiday entitlement. The regulation gave (nearly) all workers the right to a minimum of 4 weeks of paid holiday per a year. With constant weekly pay this change amounts effectively to an increase in...

One of the most striking features of European labour markets is the high incidence of long-term unemployment. In this paper we review the literature on its causes and consequences. Our main conclusions are that: the rise in the incidence of long-term unemployment has been ''caused'' by a...

This paper examines the evolution of a skew distribution of firm sizes from the viewpoint of the 'Bounds' approach to market structure. It confines attention to the role played by non-strategic factors (statistical independence, and cost sideeffects). A model is proposed, which leads to a...

Fredrick Hayek wrote frequently on the consequences of trade unions, usually highly critical, making large claims about their very adverse economic and social impact. A close analysis of his work demonstrates that his judgments do not rest on a theory of trade unions which is clearly different...

For-profit organisations recognise the importance of a strong brand. The world all have brand values over $1 billion. A brand, a distinct image and idecompanies to differentiate themselves from their competition. In contrast, non-profit organisations (NPOs) have not seen branding as essential....

In this paper we apply earnings equations for UK regions over 1982-1997. We find strong evidence of rapid convergence across regions regarding the determinants of individual wages (ie regional fixed-effects, gender gaps and returns to education and experience). Data on average regional earnings,...

This paper documents the large cross-country differences in labor institutions that make them a candidate explanatory factor for the divergent economic performance of countries and reviews what economists have learned about the effects of these institutions on economic outcomes. It identifies...