Western advisors of Eastern reform favour outside, stock-market ownership and control of large privatized enterprise. However, Japanese firms and their Western transplants are dominated by employee stakeholders as implicit residual owners. Their success, and political contraints, suggest a...

Using 4 years of data from 37 American cities and 6 high technology groupings we present the first estimates of University R&D spillover effects on employment at this level of disaggregation, while controlling for prior innovations and state fixed effects. Wages and employments are strongly...

In recent work, De Long and Summers find a dominant role for investment in equipment to explain growth-differences across countries, and reject the standard Solow growth model. However, Auerbach et al reject these results in the OECD subsample of advanced industrial countries. In a different...

This paper first replicates Basu and Fernald's (1995) US results to find no externalities from aggregate West German manufacturing to gross industry output changes and approximately constant internal returns to scale. However, when we distinguish between upswings and downturns in aggregate...

FITZROY F. and FUNKE M. (1998) Skills, wages and employment in east and west Germany, Reg. Studies 32 , 459-467. Disaggregated data from 28 two-digit manufacturing industries in the east and west parts of unified Germany are used to estimate employment for three skill categories of blue collar...

Abstract: Should two–band income taxes be progressive given a general income distribution? We provide a negative answer under utilitarian and max-min welfare functions. While this result clarifies some ambiguities in the literature, it does not rule out progressive taxes in general. If we...

We first confirm previous results with the German Socio-economic Panel, and obtain strong negative effects of comparison income. However, when we split the sample by age, we find quite different results for reference income. The effects on life-satisfaction are positive and significant for those...

Should two-band income taxes be progressive given a general income distribution? We provide a negative answer under utilitarian and max-min welfare functions. While this result clarifies some ambiguities in the literature, it does not rule out progressive taxes in general. If we maximize total...