The distinction between bank- and market-based economies has a long tradition in applied macroeconomics. The two types of financial architecture differ not only with respect to the amount of funds channelled through private banking versus the capital market but with respect to several other...

The paper extends the Shapiro-Stiglitz (1987) efficiency wage model by endogenising the probability of worker displacement as a function of the change in the firm's employment. This creates counter-cyclical variation in the wage mark-up and thereby generates real wage persistence. A New...

The aim of this paper is to compare a social welfare (SW) indicator for sustainability with the ecological footprint (EF) indicator for measuring spatial sustainability. The framework applied follows the line of a core-periphery model of "new economic geography" as put forward in Grazi, van den...

This paper contributes to the debate about the impact of the transition to subjective well-being. After reviewing the relevant literature the authors draw on the surveys of the European Values Study between 1991 and 2008 to describe the trends in life satisfaction in 13 "Western" and 11...

The prevailing view in the banking industry is that increased bank capital requirements drag down bank lending. This is because capital is assumed to impose higher funding costs on banks than debts. The leading scholarly view in finance maintains the contrary. We are able to present...

Die Beschäftigungsquoten Älterer unterscheiden sich deutlich in den EU-Ländern. Dieser Beitrag vergleicht die Auswirkungen von institutionellen Strukturen in den Bereichen Arbeitslosenversicherung, Erwerbsminderung und Alterssicherung auf die Beschäftigungsquote der 55- bis 64-Jährigen in...