We delineate a non-co-operative game in which the countries of Europe implement restrictive measures to reduce the inflow of asylum seekers in their territories. These restrictions may divert the asylum seekers towards other countries, with spill over effects. Attention focuses on the role of...

The decentralization of wage-setting - from multi-employer bargaining to firm-level agreements - allows firms to adjust their internal wage structure but has uncertain effects on inequality. This article estimates the difference in within-firm wage inequality between centralized and firm-level...

The natural gas supply of the Eastern European countries located between Germany and Russia has always been problematic. A historical reliance on Russia has been eased by increased connectivity to the West. Recent developments may lead to a diversified source but via a single supply route,...

We examine the evolution of decentralized clearinghouse mechanisms that were in use throughout Europe from the 13th century to the 18th century; in particular, we explore the clearing of non- or limited-tradable debts like bills of exchange. We construct a theoretical model of these...

We use a unique dataset to analyze the marriage patterns of the British and German nobility from the 1500s to the 1800s, and discuss the differences in institutions between the two countries. Historical evidence shows that: nobles tended to marry nobles with identical title; and, German marriages...