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MIMIC Models, Cointegration and Error Correction: An Application to the French Shadow Economy

Buehn, Andreas; Schneider, Friedrich - Institute for the Study of Labor (IZA) - 2008

The analysis of economic loss attributed to the shadow economy has attracted much attention in recent years by both academics and policy makers. Often, multiple indicators multiple causes (MIMIC) models are applied to time series data estimating the size and development of the shadow economy for...

Persistent link: https://www.econbiz.de/10005762169

Labour Market Regulation, Productivity-Improving R&D and Endogenous Growth

Palokangas, Tapio - Institute for the Study of Labor (IZA) - 2003

rents and the government can support unions by labour market regulation. We show that if unions are initially very strong …, regulation increases only the workers’ profit share and has no impact on employment and growth. Otherwise, regulation increases … faster. Regulation (deregulation) is desirable when the growth rate is below (above) some critical level. …

Persistent link: https://www.econbiz.de/10005762381

From regulation to free market: the experience of the European motor insurance market

Scalera, Domenico; Zazzaro, Alberto - Dipartimento di Scienze Economiche e Sociali, Facoltà … - 2004

decreasing investments in monitoring and increasing compensation costs. Therefore, the transition from regulation to competition …

Persistent link: https://www.econbiz.de/10004990555

Are standards Effective in Improving Automobile Fuel Economy?

Clerides, Sofronis; Zachariadis, Theodoros - University of Cyprus Department of Economics - 2006

There is an intense debate over whether fuel economy standards or fuel taxation is the more appropriate policy instrument to raise fuel economy and reduce CO2 emissions of cars. The aim of this paper is to analyze the impact of standards and fuel prices in new car fuel economy with the aid of...

Persistent link: https://www.econbiz.de/10004991227

The GMO Regulation in the EU and the Commercial Conflict with the United States

Lopez, Raul Compes; Carrau, Javier Guillem - European Association of Agricultural Economists - EAAE - 2002

The United States is the leading country in the application of biotechnology to agricultural methods. One of the principal reasons for this is the flexibility of its legislation on Genetically Modified Organisms (GMO). A significant part of its production of soya or corn is already genetically...

Persistent link: https://www.econbiz.de/10004991721

"Innocuous" Minimum Quality Standards

Garella, Paolo - Department of Economics, University of Crete - 2006

The present note shows that "innocuous" Minimum Quality Standards, namely below the lowest quality in a market, may have effects on equilibrium outcomes. Such a MQS reduces the incentive to invest in R&D by the quality-leading firm.

Persistent link: https://www.econbiz.de/10004994323

Measuring and regulating extreme risk

Nielsson, Ulf - In: Journal of Financial Regulation and Compliance 17 (2009) May, pp. 156-171

Purpose – The purpose of this paper is to discuss two important extensions to the well-known value-at-risk (VaR) methodology, namely extreme value theory (EVT) and expected shortfall (ES). Both of these extensions address the weaknesses of VaR, in particular the methodology's tendency to...

Persistent link: https://www.econbiz.de/10004994399

Competition issues in European banking

Casu, Barbara; Girardone, Claudia - In: Journal of Financial Regulation and Compliance 17 (2009) May, pp. 119-133

Purpose – The purpose of this paper is to assess the outcome of European Union (EU) deregulation and competition policies on the competitive conditions of the main EU banking markets. Design/methodology/approach – After a review of deregulation and competitition policies in the EU banking...

Persistent link: https://www.econbiz.de/10004994400

Islamic finance: regulatory framework – challenges lying ahead

Alexakis, Christos; Tsikouras, Alexandros - In: International Journal of Islamic and Middle Eastern … 2 (2009) June, pp. 90-104

Purpose – The purpose of this paper is to provide an overview of the regulatory framework and key regulatory institutions and industry associations in Islamic finance today and highlight areas that merit increased attention. Design/methodology/approach – A wide range of bibliography was...

Persistent link: https://www.econbiz.de/10004994409

Challenges for Creating a Comprehensive National Electricity Policy

Joskow, Paul L. - Robert Schuman Centre for Advanced Studies (RSCAS), … - 2009

The industry structure and regulatory framework that characterizes the electric power sector in the U.S. is in a state of disarray. Some regions have adopted a fully liberalized electricity sector model, others have retained the traditional model of regulated vertically integrated monopolies,...

Persistent link: https://www.econbiz.de/10005727897