This paper examines the role of currency and banking in the German financial crisis of 1931 for both Germany and the U.S. We specify a structural dynamic factor model to identify financial and monetary factors separately for each of the two economies. We find that monetary transmission through...

On the basis of keyword searches in newspaper articles several versions of the Recession-word Index (RWI) are constructed for Germany and Switzerland. We use these indices in order to track the business cycle dynamics in these two countries. Our main findings are the following. First, we show...

On the basis of keyword searches in newspaper articles, several versions of the Recession-Word Index (RWI) are constructed for Germany and Switzerland. We use these indices in order to track the business cycle dynamics in these two countries. Our main findings are the following. First, we show...

This paper examines empirically the relationship between innovation and market structure within a simultaneous framework at the industry level of aggregation. We use a model in which R&D affects both, demand and cost conditions. An optimization process leads to optimal industry R&D expenditure...

In France, the legal obligation for private-sector companies to have, under certain conditions, one or two employee representatives on their boards goes hand in hand with the possibility for the company to decide to have its European Works Council (EWC) or SE Works Council (SE-WC) appoint the...

Board-level employee representation rights are far from harmonised at the level of the European Union. Yet, beyond some limited cases of Europeanisation taking root in EU secondary law (i.e. the European Company Directive (Societas Europaea) and other corporate law instruments taking this...