Assuming th eeventual adoption of the Euro, the paper reviews the run-up and the medium run issues and policy options on the path towards the Euro.

This article reconsiders the definition of lower and upper bound axioms in a production model so that less information about the fairness of allocations is drawn from preferences. Three reference situations (material equality, free access to the technology, average cost pricing) define three...

The authors build a model of child labor and study its implication for welfare and fertility. Assuming there is a trade-off between child labor and human capital accumulation, we derive conditions under which child labor is socially inefficient. Even if parents are altruistic, child labor may...

The paper analyzes theoretically and empirically how a firm level tax calculated on the average wage relative to a pre-set norm may promote employment. The theoretical model generalizes the discussion to the case of a subsidization of the average wage dept under the norm chosen by the...

The paper presents a comprehensive survey of the theoretical and empirical literature about corporate failure, ordered according to the different aspects and chronological stages of the failure process. Failure is seen as an inherently dynamic and multifaceted economic and social phenomenon, the...