EU Science & Technology (S&T) pre-competitive and near-the-market collaborations are the two main instruments of the European technological policy. In order to grasp the dynamics inherent to the technological collaborative behaviour of European research organisations and to better appreciate to...

We analyze how adding the shadow economy to official output figures affects estimated technical efficiency at the country level. We find that this only slightly affects the ranking of efficiency scores, but increases average efficiency in a sample of 87 to 97 countries, both developed and...

This paper examines the role of worker and employer characteristics in the determination of wages in the Belgian private sector. Empirical findings, based on detailed matched employer-employee data covering the period 1995-2002, reveal the existence ceteris paribus of: i) a substantial but...

This paper generalizes central banks’ FX interventions reaction functions to include oral interventions alongside actual ones. Using Japanese data for the 1991-2004 period, we estimate an ordered probit explaining the occurrence of each type of intervention and evaluating the extent to which...

This study investigates the causes of unemployment persistence among the Belgian labour force. The underlying issue was to determine the impact of past unemployment spells on future labour market opportunities. Some European studies have demonstrated the existence of a true causal relationship...

This paper addresses the question to what extent social protection systems in different European countries do succeed in coping with the risks arising from non-standard forms of employment. Focusing on the examples of part-time and temporary employment, the paper will examine ex-clusionary...

En quelque trente ans de politique régionale, l’Union européenne a traversé différentes étapes dans la mise en oeuvre de cette politique tant sur le plan de sa conceptualisation que de ses adaptations aux élargissements successifs. La plus importante de celles-ci est incontestablement la...

Lottery-linked deposit accounts (LLDAs) are financial assets that provide an interest rate determined by a lottery. These accounts that combine savings and lot- tery have become very popular in recent years and in a number of countries (Guillen and Tschoegel). However, their existence cannot be...

The Behavioral Portfolio Theory (BTP) developed by Shefrin and Statman (2000) considers a probability weighting function rather than the real probability distribution used in Markowitz’s Portfolio Theory (1952). The optimal portfolio of a BTP investor, which consists in a combination of bonds...

Using a unique harmonized matched employer-employee dataset (European Structure of Earnings Survey, 1995), we study the impact of the regime of collective bargaining on wages in the manufacturing sector of three countries that are characterized by a multilevel system of bargaining: Belgium,...