Previous literature has identified considerable non-pecuniary costs to macroeconomic fluctuation and uncertainty. The present paper investigates whether and to what extent labor market institutions can mitigate those costs. We study how life satisfaction of European citizens is affected by...

This study aims at assessing the costs and benefits of multifunctional agriculture, and it is one of the very first studies using a quantitative approach to this new subject. The starting point is that if current farm subsidies are regarded as means to maintain the multifunctional...

The “Stern Review: The Economics of Climate Change” reached conclusions and policy recommendations dramatically different from most of the earlier economic analyses of climate change. It found that the costs of climate change, as well as the potential net benefits of greenhouse gas...

This paper analyses the welfare effects of two policies directed at the security of energy supply: investments in strategic petroleum reserves and a cap on the production of gas from the largest Dutch gas field. Market failures can justify such policies, in particular failure of individual...

This paper offers a comprehensive evaluation of the welfare impact of a policy usually regarded as highly successful and vastly imitated worldwide: the privatisation policy pursued in the UK by MrsThatcher's government (1979-1990) and subsequently by Mr Major's government (1990-1997) The British...

Income per capita is an important and hence widely used measure in the construction of social welfare weights. This paper, however, aims to discuss the construction of social welfare weights based not merely on Income per capita but on equally distributed equivalent income (EDEI). For example,...

In this paper we consider the experience of transport and environmental evaluation in the framework of the Cohesion Fund, established by the EU in 1993 to co-finance through grants infrastructure projects in Spain, Portugal, Ireland and Greece, and more recently in the new Member States. We...

In this study the authors analyze the factors associated with the publication of an English-language annual report in non-English-speaking countries. Using a sample of 3,994 firms from 27 countries in 2003, they find that about 50% of the sample firms issue annual reports in English. Our...

As is known, for both of the goods and services, the most determining characteristic of customer loyalty is permanency. Consumers evaluate the service of a company by making a cost-benefit analysis before they become the regular customers of the company. This study aims to investigate both...

This paper proposes a methodology to analyze the implications of the Advanced Measurement Approach (AMA) for the assessment of operational risk put forward by the Basel II Accord. The methodology relies on an integrated procedure for the construction of the distribution of aggregate losses,...