A few years after the establishment of the European Economic and Monetary Union (EMU), large asymmetries emerged in the trade balances and the current accounts of the member-states. A divide seems to separate two groups in the euro area, one with the northern countries achieving external...

This paper seeks to examine the effect of political regimes on actual fiscal redistribution. We first use a simplified theoretical framework which allows us to formalize the testable implications of the relevant literature. Subsequently, employing data on Gini coefficients before and after taxes...

This paper considers the optimal level of firm-specific training by taking into account the positive effect of training on the expected duration of workers current employment. In the framework of an efficiency wage model, a short expected job tenure represents a disamenity that reduces the...