From 2002–2004, the German government passed several laws that curtailed the generosity of the unemployment compensation system. One of the most ambitious changes was a considerable reduction in unemployment benefit entitlement lengths for older unemployed, which was effective during 2006 and...

We generalize the analyses of Hazledine (2006, “Price discrimination in Cournot-Nash oligopoly”, Economics Letters) and Kutlu (2009, “Price discrimination in Stackelberg competition”, Journal of Industrial Economics) with asymmetric cost firms. We show that the main result of Hazledine,...

The technology licensing literature has completely dominated by the assumption of constant returns to scale technology, while the implications of convex costs have been discussed extensively in the Industrial Organization literature or in the Microeconomics literature, in general. We show that...

We consider an (otherwise standard) New Neoclassical Synthesis theoretical framework that allows a role for money. Money in our model has an informational role which consists in facilitating the estimation of the unobserved shocks that drive potential output and thus the state of the economy....

The CAPM can explain closed-end fund (CEF) discounts as a consequence of the higher betas on CEF shares than on their underlying portfolios. The difference in betas is much greater for international funds and for bond funds than for domestic equity funds. CEF shares carry both more idiosyncratic...

In this paper we model multiple jobholding empirically using a specially collected database for the region of Magnesia in Greece. We find that although income plays a major deterministic impact on multiple jobholding, other factors have a determining the final outcome of the individual’s...

Considering Cournot competition, this note shows that, if the firms differ in labor productivities, the equilibrium wage rates under a centralized labor union are not independent of the number of firms and product differentiation if the labor union charges a uniform wage rate. However, if the...

We show the incentive for divisionalization by a monopolist producer. In contrast to the previous literature, where divisionalization occurs for product market advantage, we show that divisionalization occurs if it provides strategic advantage in the labor market. With unionized labor market, we...