This paper presenta a general equilibrium model of imperfect competition in which firm efficiency depends on the level of product market competition. X-efficiency is shown to arise to the extent unions directly affect the level of employment. A positive relationship is established between total...

It is shown that in an economy with production indivisibilities on the capital side, production may be carried out by capitalist firms only, irrespective of the fact that workers can exchange work for capital so that labour-managed production seems feasible.

The paper analyzes the introduction of the long-term care insurance in Germany and provides an overview of some of the main arguments. It focuses on economic aspects of the new scheme, namely its impact on efficiency, distribution and employment as well as government budgets.

n.n

Some numbers in the political sphere seem to be chosen rather arbitrarily. One example might be the rule set out by the Second Senate of the German Federal Constitutional Court in 1995 that the overall tax load on assets must be limited to 50% of the yield on those assets. This rule was...

Education decisions determine a great part of future income. This paper argues that if education is financed by parents' current income a lump-sum tax reduces inequality if all parents have strict investment incentives. However, if some parents are indifferent there is a possible decrease in the...