We estimate the pro-competitive effects of Austria's participation in the Single Market after its EU accession in 1995 in terms of firms' market power as measured by the Lerner index, using a sample of 46 industries and 7 industry groups, covering the period 1978 to 2001. In the framework of the...

We present a model that describes the labor supply decision of individuals under transaction costs and job-related amenities. The model indicates that individuals will respond to regional differences in wages net of transaction costs and accept higher jobamenities as compensation for low wages....

We propose a novel identification strategy to measure monetary policy in a structural VAR. It is based exclusively on known past policy shocks, which are uncovered from high-frequency data, and does not rely on any theoretical a-priori restrictions. Our empirical analysis for the euro area...