"Recently, many state governments have legislated reductions in teachers' retirement benefits for new and future employees as a means of addressing the large unfunded liabilities of their pension plans. However, there is little existing capacity to predict how these unprecedented pension...

Minimum wage policy supported by a strong social policy is an efficient mechanism against poverty and income erosion of the poorest households. Minimum wage is one of the instruments which can control wage dispersion and in this way reduce income inequality. It can also help to prevent a general...

Gaps in competitiveness, rooted in economic as well as in political factors, characterise postwar European economic history. The eurozone experience showed the emergence of large current account imbalances. The peculiar mixture of financial markets integration and national cycles in wages and...