This paper focuses on ihe rationale behind fiscal solidarity. It is argued that, while at the national level the main aim of regional policies is to downsize the cost of labor market policies, the motivation behind EU transfers is less straightforward. Here, regional assistance should rather be...

In the strategic trade policy literature, the firms typically make positive profits at equilibrium policy levels. We show that this is not always true when firms from the developed (North) and developing (South) countries compete in the Northern market. In particular, the South firm may be...

Globalisation is a highly controversial topic. Despite its potential for accelerating growth and reducing poverty (to which most policy makers and economist would agree) objections are often expressed about the position of developing countries, and a number of damaging side-effects of the...

Dutch Abstract: Marktwaarde gewogen indexen mogen zich al jaren in grote belangstelling verheugen. Doordat actief beheerde aandelenmandaten regelmatig teleurstelden, gaven steeds meer professionele en particuliere beleggers de voorkeur aan goedkope beleggingsproducten die de traditionele,...

Dutch Abstract: Financieel analisten publiceren adviezen om aandelen te kopen, houden of verkopen. Ongeveer de helft van alle gepubliceerde adviezen betreft een koopadvies. De publicatie van deze adviezen gaat gepaard met buitengewone aandelenrendementen, waarbij opwaarderingen doorgaans...

In the empirical literature, not much support is found for the uncovered interest parity. Especially with free floating exchange rates, the forward rate is a biased predictor of the future exchange rate. This phenomenon can both be explained by an absence of rational expectations or by risk...