Winter-rapporten identificerer to grundlæggende principper. 1) Proportionalitetsprincippet: Der skal være proportionalitet mellem den ultimative økonomiske risiko, som investorer påtager sig, og den kontrol disse opnår i virksomheden. 2) Aktionærprincippet: I tilfælde af et...

Economists have long acknowledged that the structure of the family (number of offspring, marital status, etc.) plays a crucial role in important economic decisions (e.g., labor supply, demand patterns, portfolio choice, educational attainment). In this paper we investigate the link between...

This paper studies how interest group lobbying of the bureaucracy affects policy outcomes and how it changes the legislature’s willingness to delegate decision-making authority to the bureaucracy. We extend the standard model of delegation to account for interest group influence during the...

A new local government structure is announced for Greenland from 2009. If the reform is carried through, Nanortalik the most southerly town will come together with Qaqortoq, then the new centre, and Narsaq. A suggestion by the mayor of Nanortalik about the number of civil servants that should...

We analyze delistings from European stock exchanges 1995-2005 as a function of market conditions, firm effects and governance regulation. We find that investor protection and corporate governance quality reduce the likelihood of going private, bankrupt or liquidated, but increase the likelihood...

We find that the main featues of labor policy across OECD countries can be explained by a simple general equilibrium search model with risk neutral agents and a government that chooses policy to maximize a social welfare function. In equilibrum, policies are chosen to optimal redistribute income...

We study aggregation - or sample frequencies - of time series, e.g. aggregation from weekly to monthly or quarterly time series. Aggregation usually gives shorter time series but spurious phenomena, in e.g. daily observations, can on the other hand be avoided. An important issue is the effect of...

Health care provision is undergoing major reforms in Europe as a reaction to rapidly increasing expenditure and lowered political acceptance to commit public finance to cover the deficits. The Dutch government will decide in 2007 if the current budget system will be replaced by a more...

We examine the interaction between commodity taxes and parallel imports in a simple two-country model with imperfect competition. While governments determine non-cooperatively their commodity tax rate, the volume of parallel imports is determined endogenously by the retailing sector. We compare...

According to the Competition Act, a merger that impedes eective competition signi cantly, in particular by creating or strengthening a dominant postition, shall be prohibited. To decide whether this is the case the authorities need a quanti able model of the relationship between the variables...