This paper explores a possible link between job security and multiple job-holding in the United Kingdom. It is argued that an individual may hold a second job if they believe that their primary job has a high risk of termination. The reason is that holding a second job may cushion the financial...

Do students benefit from compulsory schooling? Researchers using changes in compulsory schooling laws as instruments have typically estimated very high returns to additional schooling that are greater than the corresponding OLS estimates and concluded that the group of individuals who are...

We argue that wages have increased so far ahead of labour productivity in East Germany as to produce a problem that will continue to hound German policy-makers for the next two decades. Despite rapid rates of capital accumulation (around 9%) and growth (around 5%) in East Germany over the coming...

Economic and monetary reunification in Germany has proved to be more expensive than previously thought - and not just for the Germans. If a `Mezzogiorno' problem of continuing fiscal transfers to the East and possible migration flows westwards are to be avoided, there must be convergence in...

The early 1990s marked a distinction between the EMS as a vehicle for creating monetary stability and the EMS as a vehicle for moving towards monetary union. We model that distinction by contrasting policies generated by preference transfers from the lead country (to create the EMS discipline of...

There is a well-established methodology for measuring the effects of economic policy in a model that is `causal' or backward-looking. In this paper a complementary methodology is described for the case in which the model is `non-causal' or forward-looking. The methodology is then applied to an...