This paper posits a new approach to the 'wage equation' of the New Economic Geography (NEG). On one side, it is shown that the NEG provides a spatial explanation of marginal costs, instead of wages. On the other side, and focusing on the statistical properties of the data, it is explained why...

Central banks' commitment to public interest goes beyond monetary policy. A wide range of areas are under the control of central banks (price and financial stability, services for the economy, e.g., economic analysis, payments, financial education, customer protection); central banks also have...

This study compares the outcomes of male foreign workers from different East and West European countries who entered the German labour market between 1995 and 2000, with those of male German workers. We find that the immigrant-native wage gap differs significantly between nationalities: the...