In comparative political economy it has become commonplace to distinguish between two types of corporate governance systems. In shareholder systems, influence over company management is concentrated with institutional investors holding small percentages of companies' shares. In stakeholder...

Financial systems are crucial to the allocation of resources in a modern economy. They channel household savings to the corporate sector and allocate investment funds among firms; they allow intertemporal smoothing of consumption by households and expenditures by firms; and they enable...

Negli ultimi vent’anni i paesi europei hanno introdotto numerose riforme economiche orientate a rendere le istituzioni economiche più “favorevoli ai mercati”, nella convinzione che l’ambiente regolativo costituisca un fondamentale fattore di crescita economica. La prima parte di questo...

In this study, we investigate the role that some institutional features play in shaping the distribution of wages across a number of OECD countries. While considerable attention has been devoted in recent years to the evolution of earnings inequality and to the analysis of the competing...

In this paper, we investigate the effects of the boom in education on the wage structure in Europe. We use detailed information on the distribution of wages, estimated from microdata from 12 European countries from the beginning of the 1980’s to the present, to analyse the changes both between...

This paper provides a brief overview of the East German employment problem and presents a simple model in which to evaluate two rival policy proposals: wage subsidies and revenue-sharing subsidies. Revenue-sharing subsidies have received little, if any, attention in the ongoing public debate on...

When asymmetry or non-verifiability of information, or non- excludability of users, makes contracts incomplete or unenforceable, and where for these and other reasons there are impediments to efficient bargaining, we show that private contracting will not generally assign the control of assets...

This paper studies the effects of the last enlargement of eu on European social heterogeneity, and examines the size of outsourcing to ceecs in relation with national social systems. We use principal component factor analysis and hierarchical classification to represent numerous relations...

Use of new technologies and how the circulation of information, in banking, globalization emphasizes more than any other field. Today, globalization of financial markets is a priority both for multinational companies and governments and international institutions. The degree of priority is...