We analyze how bankruptcy laws affect the general equilibrium interactions between credit and wages. Soft laws reduce the frequency of liquidations and thus ex post inefficiencies, but they worsen credit rationing ex ante. This hinders firm creation and thus depresses labor demand. Rich agents...

Restructuring processes are a complex and global phenomenon occurring all over Europe. The recent analyses of restructuring operations in the European Union are part of the search for common Community values vis-à-vis globalisation. The European policy thus triggers and frames the restructuring...

In principle, a company incorporated in a group is legally independent and is a company like others, having its own legal personality, and participating in the legal life as any entity. This legal principle of independence hardly consistent with the reality characterized by the control exercised...

This paper argues that preferential trade agreements (PTAs) and the World Trade Organization (WTO) are not substitutes, and while PTAs are without doubt here to stay, dispensing with a multilateral venue for doing business in trade matters is not a serious option. It is therefore necessary to...

This paper argues that preferential trade agreements (PTAs) and the World Trade Organization (WTO) are not substitutes, and while PTAs are without doubt here to stay, dispensing with a multilateral venue for doing business in trade matters is not a serious option. It is therefore necessary to...

The practical impossibility of employing hard law at an international level has meant that softer codes of conduct have stepped in to fill the void. The Global Compact is the most ambitious of these codes, created with a desire to engage business in the project of international development and...

Abstract European state aid control, a part of competition policy, typically follows the logic of negative integration. It significantly constrains the potential for Member States to distort competition by reducing their ability to subsidize industry. In addition, this paper argues, ambiguous...

The European Employment Strategy (EES) has been put in place in order to ensure the survival of the European Social Model in view of institutional change resulting from the introduction of the European Monetary System. It has become the platform of a method of open coordination of social and...