Our paper picks up the current controversial debate about increasing (income) inequality due to recent monetary policy measures in major advanced economies. We use a VAR framework identified with sign restrictions to figure out how income in- equality related measures react to monetary policy...

Currently there is a significant discussion in academia and the popular press over the present amount of inequality, the history of inequality and the negative effects on economies of inequality. Typical of this debate was a recent article by Martin Wolf in the Financial Times, (30 Sept 2014,...

We show that a minimum wage can have large effects throughout the earnings distribution,using a combination of theory and empirical evidence. To this end, we develop an equilibriumsearch model featuring empirically relevant worker and firm heterogeneity. We usethe estimated model to evaluate a...

The questions of whether there ever existed excessive risk-taking incentives from executive compensation in the financial industry, and whether top executives of financial services firms actually responded to such excessive incentives that eventually led to the crisis remain unanswered. The...

The Saint Valentine's decree (1984) and the ensuing hard fought referendum (1985), which reduced the automatisms of scala mobile, started a process of redefinition of wage fixing in Italy, which culminated with the final abolition of scala mobile (1992) and the approval of Protocollo d'intesa...

In this dissertation, I examine the impact of earnings management and expectations management on the usefulness of earnings and analyst forecasts in firm valuation. Earnings and analyst forecasts are important inputs into accounting valuation models. Their ability to reflect current and predict...

The study analyzes price level in Azerbaijan economy over the period of 2000-2007 by employing a specific approach. The paper concludes that price increases caused by a resource boom differs from the price increases generated by a non-booming economy. Thereby, inflation mainly caused by resource...

The Saint Valentine's decree (1984) and the ensuing hard fought referendum (1985), which reduced the automatisms of scala mobile, started a process of redefinition of wage fixing in Italy, which culminated with the final abolition of scala mobile (1992) and the approval of Protocollo d'intesa...

The inequality growth during the last quarter century is explained as caused by a decreasing labor-labor exchange rate, i.e. devaluation of one's labor in exchange for other's labor embodied in the commodities affordable for one's earnings. We show that the productivity growth allows employers...