This paper deals with EU-Directive 89/552/EEC "Television Without Frontiers", which enables each EU-country to set up a list of major events that are not allowed to be transmitted in Pay-TV. We analyze this kind of regulation using instruments of game-theory and monopoly-theory. We compare the...

This paper analyzes the legal framework for telecommunications and the new media in the European Union. Based on an institutional economics model, the different levels of institutional interaction within the EU media regulation are explored. Compared to the US, the European market seems to...

Seit einigen Jahren steigt die Dominanz weniger Vereine im deutschen Fußball. Wiederholte Gewinne der Meisterschaften in der Fußball-Bundesliga und die Beteiligung an Spielen auf europäischer Ebene versetzen diese Vereine finanziell in die Lage, dauerhaft in ihre Spieler-Kader zu investieren....

The paper investigates the extent to which the dollar/sterling exchange rate fluctuations affect coffee and cocoa futures prices on the London LIFFE and the New York CSCE by means of multivariate GARCH models - under the assumption that traders in perfectly competitive markets have equal access...

This paper surveys the literature of the Bullionist controversy which dominated the development of Classical monetary economics between 1797 and the early 1820s. It highlights the contributions of Henry Thornton to the early phase of the debate, particularly his refutation of the Real Bill...

This paper focuses on the causes of increased wage inequality in OECD countries in recent years and its decomposition into the component factors of trade surges in low wage products and technological change that has preoccupied the trade and wages literature. It argues that the length of...

The United Kingdom employed the McKenna rule to conduct fiscal policy during World War I (WWI) and the interwar period. Named for Reginald McKenna, Chancellor of the Exchequer (1915–16), the McKenna rule committed the United Kingdom to a path of debt retirement, which we show was...

This article contributes new time series for studying the U.K. economy during World War I and the interwar period. The time series are per capita hours worked and average tax rates of capital income, labor income, and consumption. Uninterrupted time series of these variables are provided for an...

Win-win and eco-efficiency approaches to environmental management that focus on cost benefits from environmental improvement in business have been widely promoted in recent years. However they have been criticized because they are of limited appeal to small and medium sized enterprises (SMEs)...

Using data from Germany, Japan, UK, and the U.S., we explore possible threshold cointegration in nominal short- and long-run interest rates with corresponding inflation rates. Traditional cointegration implies perfect mean reversion in real rates and hence confirms the Fisher hypothesis....