This paper analyses the level of relative specialisation in terms of gross fixed capital formation in EU regions for the period between 1985 and 1994. Controlling for heteroscedasticity and potential endogeneity…
In this paper, we analyse the intergenerational transmission of poverty from Polish parents to their children through children´s educational attainment during the transition process of the 1990s. The…
Actors on print media markets face two di®erent (and interrelated) demand curves: the demand for copies and the demand for advertising space. This paper develops a realistic, yet simple, model of print media…
Computable general equilibrium (CGE) modeling has provided a number of important insights about the interplay between environmental tax policy and the pre-existing tax system. In this paper, we emphasize that a…
This paper analyzes decisions on emissions of a stock pollutant under uncertainty in a two period model. Decisions are based on a weighted average of expected utility (EU) and the MaxiMin criterion. I first show…
Taking account of sinks credits as agreed in Bonn and Marrakech, this paper illustrates how market power could be exerted in the absence of the US ratification under Annex 1 trading and explores the potential…
The fast growing EU market for investment funds is still characterised by a continuing relevance of national borders. This papers assesses this market’s degree of integration, the potential benefits from more…
Lending and borrowing interest rates are often slow to adjust to changing capital market conditions. This paper argues that national differences of the pass-through speed in the EU can be regarded as a…
We show that U.S. withdrawal from the Kyoto Protocol is straightforward under political economy considerations. The reason is that U.S. compliance costs exceed low willingness to pay for dealing with global…
The internet revolution is said to foster integration of the market for financial services, since consumers are able to shop around at all companies worldwide and firms can easily offer their services on the…
With the introduction of the Euro, a single European money market has emerged. Further wholesale financial markets are considered to be highly integrated within the European Union. However, integration in retail…