This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

Die Reform der Handwerksordnung des Jahres 2004 brachte insbesondere durch die Abschaffung der Meisterpflicht für mehr als die Hälfte der Gewerbezweige des Handwerks eine umfassende Liberalisierung der Zugangsbedingungen. Der vorliegende Beitrag analysiert unter Verwendung von Daten des...

The "revolving door" phenomenon has become very common in most industrialised countries, and is leading to conflicts of interest as well as economic distortions. The purpose of this paper is to develop an indicator of the distortionary effects of the revolving door - The Revolving Door Indicator...

Recent empirical work finds a negative correlation between product market regulation and aggregate employment. We examine the effect of product market regulations on hours worked in a benchmark aggregate model of time allocation as well as in a standard dynamic model of entry and exit. We find...

Emphasis on market-friendly macroeconomic and development strategies in recent years has resulted in deleterious effects on growth and well-being, and has done little to promote greater gender equality. This paper argues that the example of East Asia states, which recognized their position as...

This paper studies competition in commodity taxation and product market regula- tion between trading partner countries. We present a two-country general equilibrium model in which destination-based commodity taxes finance public goods, and prod- uct market regulation affects both the number of...

Increased competition for viewers' time is threatening the viability of public-service broadcasters (PSBs) around the world. Changing regulations regarding advertising minutes might increase revenues, but little is known about the structure of advertising demand. To address this problem, we...

India has undertaken extensive reforms in its manufacturing sector in the last two decades. However, an acceleration of growth in manufacturing, and a concomitant increase in employment, has eluded India. What might be holding the sector back? Using Annual Survey of Industries data at the...

The European Union (EU) and Germany were already being confronted with rapidly changing dynamics on the economic, ecological, and technological terrains prior to the Covid-19 crisis. The pandemic however has fully exposed critical global value chain (GVC) dependencies, jeopardising European...

Using a unique eight-year data set, merging population census and national insurance data, the paper examines and compares patterns of wage mobility in Israel. First, the public and the private sectors are compared. Second, within each of these sectors, a distinction is made between sub-sector...