Our study tries to find out whether wage dynamics between Euro member countries became more synchronized through the adoption of the common currency. We calculate bivarate correlation coefficients of wage and wage cost dynamics and run a model of endogenously induced changes of coefficients,...

This paper intends to fill two gaps in the Optimal Currency Area literature. First of all, Mundell's original idea has very little formalmodel theoretical underpinning. Second, it almost exclusively views countries contemplating monetary unification as single economies. We question this view and...

This article reviews the use in the flotation of Standard Life plc of the prospectus passport for cross-border offers of securities within the EU that was introduced by the Prospectus Directive (2003). The Standard Life flotation was a major test for the new law on prospectuses and, overall, it...

This paper contains the tables of contents, legislation and cases, the introduction and the index of a book published by Cambridge University Press (2008). The cover text reads as follows: "On the one hand, it can be argued that the increasing economic and political interdependence of countries...

Proposals for Eurozone reform aim to complete its institutional architecture by securing stability without creating moral hazard. Such policy arguments inevitably rely, however, on implicit assumptions about justice, or on what is owed to whom. A common assumption is that member states are...

This paper, which will be the basis for a chapter in the forthcoming OXFORD HANDBOOK OF CORPORATE LAW AND GOVERNANCE (Jeffrey Gordon and Georg Ringe, eds.), surveys the extent of convergence in corporate law and governance over the past 15 years. The paper assesses the efforts to measure...

This paper, which will be the basis for a chapter in the forthcoming Oxford Handbook of Corporate Law and Governance (Jeffrey Gordon and Georg Ringe, eds.), surveys the extent of convergence in corporate law and governance over the past 15 years. The paper assesses the efforts to measure...