We examine the economic consequences of the mandatory adoption of IFRS in EU countries by showing which types of economies have the largest reduction in investment-cash flow sensitivity post-IFRS. We also examine whether the reduction in investment-cash flow sensitivity depends on firm size as...

Mobile operators have made massive investments in spectrum and infrastructure to provide mobile broadband content services on ‘mobile Internet’. Faced with considerable uncertainty regarding market growth, technology options and regulatory policies, the introduction of broadband services...

This paper attempts to analyse, in a theoretical perspective, the effects of economic fluctuations on the personal distribution of incomes. The framework developed here is logically separated into two building blocks. The first is a macrodynammic model determining wages and profits, I.e. the...

Recent evidence suggests that unemployment benefit recipients search more extensively than non-recipients. It is conceivable that benefit claimants, looking for work in a more formal search environment, enjoy an informational advantage relative to non-claimants. This paper examines how such an...

This paper considers a model in which the unemployed have to incur a cost to maintain their skills. If whether they have done so is not observable, the economy has multiple equilibrium supported by self-fulfilling beliefs on the part of the employers. There is a unique steady state equilibrium...

This paper presents a one-sided incomplete (asymmetric) information bargaining game in a dynamic general equilibrium framework. The model predicts business cycle movements in the economy with persistence mechanism arising from asymmetric information and search. The employment level is...

Unemployment is and will be for the foreseeable future one of the major issues of economies in transition. Not only is unemployment in Post-communist economies a socially explosive problem, what happens on the unemployment front allows us to also make inferences about the state of the transition...

Productivity growth in 329 companies (total employment = 1.96 million workers) is analysed for the period 1984-1989. The study breaks new ground by (i) analysing the impact of changes in union status - such as repudiation of a closed shop or derecognition - on productivity growth; (ii) examining...

This paper presents a preliminary analysis of the performance of the Polish state-owned enterprise sector in 1990, with particular attention to wages, output, profitability, and the contribution of enterprise taxation to the state budget. A new piece of empirical evidence presented in the paper...

This paper investigates the costs of the three most popular types of employee share ownership schemes in the UK. It offers a method of establishing these costs and provides some rough calculations of their actual size for a set of large firms in the UK. It ends with some observations on how...