In this paper we use individual-level census data on registered and practical nurses in the United States from 1950-70 to determine the effect that the switch from certification to licensure had on wages and participation in the registered and practical nurse professions. We examine these...

This paper intends to evaluate empirically the impact of reduced trade barriers and increased trade on the synchronization of business cycles. It draws on Frankel and Rose (1998) who reassessed the Mundellian criteria on Optimum Currency Areas (OCAs) and considered their application to be...

This paper has a twofold interest. First, we construct new concentration measures that alleviate some shortcomings of the most frequently applied indexes, which are Herfindahl-Hirshman and Entropy measures. They also provide additional information about the way in which the loan portfolio is...

This paper analyzes the implication of employment protection legislation on a firm's screening process. We present a model in which human-capital-intensive firms (high-tech firms) with imperfect information about their workers' type attempt during a trial period to identify those incompetent...

All pension systems have been affected by the financial and economic crisis, although in different ways. This paper analyses the effects of the crisis on pension systems and the resulting responses and changes, and offers a theoretical interpretation of these responses. This interpretation...

The paper deals with temporary employment in the Russian labour market. The main focus is the gender difference regarding determinants of temporary employment. Unlike most European countries, where women are more likely to have temporary work, in Russia men predominantly have this status,...

The European central bank is a bank of banks but not a bank of states. This reduces the capabilities of member states to finance deficits. The role of the central bank to cope with the debt crises is institutionally more limited than in most other Western countries. The European Stability...

This paper describes the transmission of the recent financial crisis to Japan and compares the monetary policy reactions by the Bank of Japan (BoJ) with those during the 1990s, and with reactions by other major central banks. The paper first reviews the recent literature on the origins and...

In the literature the issue of the protection of stakeholder interests (of employees in particular) is usually considered in a static context: how should the institutions of corporate governance be shaped having regard to already existing firms, conforming, in particular, to some subjective...