Using U.K. microeconomic data, we analyze the empirical determinants of voluntary annuity market demand. We find that annuity market participation increases with financial wealth, life expectancy and education and decreases with other pension income and a possible bequest motive for surviving...

This paper treats the question to what extent globalization trends restrict a country specific regulation policy in industrial countries. The empirical analysis makes use of recently collected regulation indicators for four policy fields: financial market, product markets, labour markets and...

The original cost regulatory system, as currently used in the regulation of utilities and natural gas pipelines, cannot emulate the response of a competitive firm to high and varying inflation. Although there can be many problems introduced by regulatory lag and by high administrative and...

Corporate and financial market history has demonstrated that the approaches to corporate governance set out in the standard economics and finance literature may require further development. This paper presents a generic and holistic framework that views corporate governance as part of the...

quot;The Fund and the Bank exist because their neutral and apparently technical advice may be less offensive to national sentiments than direct intervention by the United Statesquot;.The very statement reflects on the fact about the activities of the Bank and the Fund being circumscribed by...

This paper provides an economic analysis of the residential real estate brokerage industry. We find that the traditional model for residential real estate brokerage services may be dated, and could be improved substantially with some public policy interventions that spur innovation.We believe...

Company-taxation policies in the Central and East European New Member States (CEE-NMS) have been frequently characterised as tax-cutting strategies in order to attract Foreign Direct Investment (FDI). On the basis of a survey of six empirical studies a median value of the tax-rate elasticities...

We draw out implications of the identifiable victim effect - the greater sympathy shown toward identifiable than statistical victims - for public finance. We first review research showing (1) that people respond more strongly to identifiable than statistical victims even when identification...

This paper explains why selection in the US reverse mortgage market to date has been advantageous rather than adverse. Reverse mortgages let quot;house rich, cash poorquot; older homeowners transfer wealth from the wealthy period after their home is sold to the impoverished period before. Near...

In September 2007, China established the China Investment Corporation (CIC) as a vehicle to invest its foreign exchange reserves. The CIC reports directly to the State Council, and is led by its Chairman, Lou Jiwei, the former Deputy Secretary-General of the State Council. The CIC's US$200...