While the old systems competition took place with closed borders, globalisation has brought about a new type of systems competition that is driven by the mobility of factors of production. The new systems competition will likely imply the erosion of the European welfare state, induce a race to...

This articles reviews the arguments for consumer protection policies by the government by referring to the Nobel prices on asymmetric information problems. It discusses criteria for assessing the empirical importance of lemons goods and comments on the relative merits of quality constraints and...

The article advances the hypothesis that Germany is unable to increase its gains from trade despite increasing trading volumes. High and rigid German wages largely result from the minimum wage constraint imposed by a welfare state that offers generous replacement incomes. Confronted by low-wage...

Despite its efforts and obligations under the Kyoto Protocol, the EU has not succeeded in even making a dent in the rapidly rising trend of worldwide carbon dioxide emissions. If anything, the trend has accelerated in recent years. In his Thünen Lecture given to the Verein für Socialpolitik in...

Despite its efforts and obligations under the Kyoto Protocol, the EU has not succeeded in even making a dent in the rapidly rising trend of worldwide carbon dioxide emissions. If anything, the trend has accelerated in recent years. In his Thünen Lecture given to the Verein für Socialpolitik in...

While the old systems competition took place within closed borders, globalisation has brought about a new type of systems competition that is driven by the mobility of factors of production. The new systems competition will likely imply the erosion of the European welfare state, induce a race to...