The competition between a central securities depository (CSD) and a custodian bank is analysed in a Stackelberg model. The CSD sets its prices first, the custodian bank follows. There are many investor banks each of which has to decide whether to use the service of the CSD or of the custodian...

The paper presents an analysis of the trade-offs of participants of different type between payment delay and liquidity requirement on the basis of synthetically generated data. The generation of the synthetic transaction data set for a simple RTGS system is described and calibrated using real...

Dieser Bericht untersucht die spezifischen Merkmale des sozialen Dialogs in Kleinst- und Kleinunternehmen in der EU, wobei er sich insbesondere auf Tarifverhandlungsverfahren und Arbeitnehmerbeteiligung im Bereich von Gesundheitsschutz und Sicherheit am Arbeitsplatz konzentriert. Darüber hinaus...

Micro and small companies constitute the backbone of private business in Europe, accounting for nearly 99% of all enterprises, more than half of total employment in the private sector and an even greater proportion of new jobs. Despite their crucial place in the economy, there has been little...

This working paper examines how social dialogue has addressed the impact of the crisis. In order to make reasonable comparisons between countries as diverse as Brazil, China, Japan and the USA it is necessary to take into account the institutional, political, economic and social backgrounds....

We examine job flows in the 1990s for a sample of 13 European countries. By using a dataset of continuing firms that covers all sectors, we find firm characteristics to be important determinants of job flows, with smaller and younger firms within services typically having a larger degree of job...

We live in a service economy, but the extent of development of service employment differs across developed countries. This paper assesses the role of structural factors and institutions in explaining the common patterns and main differences in the recent expansion of service employment in OECD...