Small transaction costs and uncertainty imply that optimal cross-currency interest rate speculation is marked by a first-order hysteresis band. Consequently uncovered interest parity does not hold and market efficiency tests based on it are misspecified. Indeed measured prediction errors are a...

This paper reviews and reassesses the methodology and principal findings of the quot;Rose effect,quot; i.e., the trade effects of currency union, looking at both EMU and non-EMU currency unions. The consensus estimate suggests that the euro has already boosted intra-euro area trade by five to...

The imputation of the labour income of the self-employed typically relies upon the assumption that individuals of this group earn the same average hourly compensation as employees, either at the total economy or industry level. While this assumption is convenient in that it relies upon readily...

This paper presents an analysis of the labour market and mobility indicators generated by the second large-scale data collection on Careers of Doctorate Holders, a joint project by the OECD, UNESCO Institute for Statistics and Eurostat.<P> There has been a steady increase in the number of doctoral...</p>

Having benefitted from highly specialised research training, doctoral holders stand in a position to drive forward advances in science, technology and knowledge about society. Unfortunately, evidence on their careers is limited and sparse, owing, for example, to the fact that standard...