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...

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....

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...

The situation of young people in the labour market in Finland worsened during the recent economic recession. It has subsequently improved, but these positive changes don’t cover all job seekers, for example young people with health problems or disabilities. The employment rate of people with...

In Poland policy relating to people with disabilities does not differentiate between different groups – all groups are treated equally. There are no policies or programmes that particularly promote the participation of young people with disabilities in the open labour market. As in many other...

In Spain disability is officially recognised when the competent evaluation services assess a person as having a minimum 33% disability level. This evaluation is carried out by regional governments and there are differences among regions, which can result in a person obtaining a disability...

Denmark is a welfare society. The current aspiration of Danish disability policy is equal treatment for all, regardless of physical or mental capacity. This objective is the result of an evolutionary process, the effect of which is that people with disabilities are increasingly integrated into...

As in many other countries in Europe, the number of young people not in employment, education or training in the UK has risen in recent years. Information collected by the Department of Work and Pensions (DWP) provides a picture of increasing reliance on benefits by these young people. The...