There has been no shortage of theories which purport to explain why globalisation may have, adverse, insignificant or even beneficial effects on income and earnings inequality. Surprisingly, the empirical realities remain an almost complete mystery. In this paper we use data on industrial wage...

Do ethnic enclaves assist or hinder immigrants in their economic integration? In this paper we examine the effect of ‘ethnic capital’ (e.g. ethnic network and ethnic concentration) on immigrants' earnings assimilation. We adopt a "spatial autoregressive network approach" to construct a...

Flexible work arrangements and retirement options provide one solution for the challenges of unemployment and underemployment, aging populations, and unsustainable public pension systems in welfare states around the world. We examine the relationships between well-being and job satisfaction on...

While German public finances have remained more resilient than other EU countries throughout the recent crisis, fiscal flexibility has become increasingly limited for its regional governments which deliver most public service. The recent introduction of a balanced-budget requirement (‘debt...

Do ethnic enclaves assist or hinder immigrants in their economic integration? In this paper we examine the effect of 'ethnic capital' (e.g. ethnic network and ethnic concentration) on immigrants' earnings assimilation. We adopt a "spatial autoregressive network approach" to construct a dynamic...

The conventional model of immigrant earnings does not account for the correlation of outcomes across immigrant ethnic networks. We apply a spatial autoregressive network approach to account for the spill-over effects of migrant ethnic group economic resources and labour market outcomes. We...

A disagreement has emerged over whether advanced countries such as Britain engaged in financial repression following the Second World War. A review of the historical and archival evidence identifies eleven pieces of British legislation and sixteen directives that supported financial repression...

This paper analyses the evolution of the safety and soundness of the European banking sector during the various stages of the Basel process of capital regulation. In the first part we document the evolution of various measures of systemic risk as the Basel process unfolds. Most strikingly, we...

The literature on corporate financing is quite extensive. However, researchers have so far not shed light on the IPO determining factors in Europe as a whole. This paper addresses three main questions observing more than 9000 IPOs performed during a period from 1991 to 2014. First, the...

Taking advantage of the physical settlement of Japanese government bond (JGB) futures, this paper firstly evaluates the role of central counterparties (CCPs) in the over-the-counter market during the 2008-2009 financial crisis. Our result shows that the special premium on the settlements through...