A cross section analysis of 23 OECD members shows that there is an 'antagonistic' relationship between the legal protection of investor interests on the one hand and labour interests on the other: the stronger the legal protection of investor rights in a country, the less developed are the...

Severance pay is a vital part of employment protection legislation (EPL). We investigate the incidence and level of severance pay for dismissed employees. Our theoretical model predicts that not only the law and its interpretation by labour courts but also the costs of a suit have an impact....

Die Arbeitsmarktpolitik auf europäischer Ebene hat durch die Krisen der letzten Jahre wiederholt neue Impulse erhalten. Mit den Initiativen für eine europäische Arbeitslosenrückversicherung, einen europäischen Mindestlohn, eine europäische Jugendgarantie und - vor kurzem - Europäische...

This article argues that more emphasis should be paid to the communicative power of trade unionism because it may constitute a starting point or a privileged standpoint which a trade union may use to counter its weakness regarding its other sources of power. Reviewing the trade union...

Using a pooled data set consisting of 20 annual observations on each of eleven major industry groups, I estimate the effects of overtime pay regulation on weekly work schedules. After controlling for workweek trends within industries, the sharp expansions in overtime pay coverage resulting from...

After a period of regulatory changes in the early 1980s we are faced with new freight transportation labor markets in the U.S. Using data from the 1984-1999 Current Population Survey, we examine trends in the wages of workers within freight transportation, with a focus on wage differentials...

The paper analyses whether communication and actual interventions in FX markets are successful in moving exchange rates over the medium- to long-run. It compares empirical evidence based on time-series analysis with that obtained from an eventstudy approach. Both the time-series approach based...

The paper shows that US monetary policy has been an important determinant of global equity markets. Analysing 50 equity markets worldwide, we find that returns fall on average around 3.8% in response to a 100 basis point tightening of US monetary policy, ranging from a zero response in some to a...

The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a novel database for 268 professional forecasters since 1999, the average forecast error of FOMC decisions varies 5 to 10 basis points between the best and worst-performers...