It is vividly debated how the ongoing process of European integration will affect the need and scope for welfare state activities. To some this process signals that welfare state activities have to be rolled back, while others stress that international integration may increase the need for...

The Scandinavian welfare states are mature in the sense of having a high level of standards for public provisions of welfare services as well as a high replacement level for income transfers, especially for low-income groups. In this welfare model, individuals have basic rights to welfare...

In a duopoly model with sequential price setting we show that as a result of private information prices are either sticky in the sense that they are not adjusted to available information on market conditions, or prices are adjusted but become upward biased. Hence asymmetric information causes...