This paper investigates the intraday effects of unannounced foreign exchange intervention on bid-ask exchange rate spreads using official intraday intervention data provided by the Danish central bank. Our starting point is a simple theoretical model of the bid-ask spread which we use to...

This paper is the first to analyze intergenerational economic mobility based on sibling correlations in permanent earnings in Germany and to provide a cross-country comparison of Germany, Denmark, and the US. The main findings are as follows: the importance of family and community background in...

Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...

This paper presents estimates based on individual data of downward nominal and real wage rigidities for thirteen sectors in Belgium, Denmark, Spain and Portugal. Our methodology follows the approach recently developed for the International Wage Flexibility Project, whereby resistance to nominal...

With the liberalisation of the European electricity market, new instruments are searched for in order to co-ordinate climate change initiatives with competition. This paper analyses the potential of a system of green electricity certificates to regulate the introduction of renewable energy...

The paper models the combined use of taxation and voluntary agreements when there is asymmetric information between the regulator and industry on the firms' actual emissions. The model incorporates the following features: 1) the regulator does not know the firm's special production...

The objective of this paper is to find out whether differences between the domestic permit allocation procedures of the Member States of the European Union (EU) will distort competition and lead to state aid in a European carbon trading market. This paper shows that it depends whether one takes...

This paper compares the most commonly quoted female-to-male wage ratios (based on hourly earnings in manufacturing) and ratios based on a harmonized analysis of household surveys. The surveys include employees of all types in all sectors - thereby overcoming the problems associated with a lack...

In this paper I will study in a comparative perspective how taxes, social transfers and tax expenditures effect the social policy goal of redistributing income. The following countries are included in the analysis: Australia, Denmark, Finland, Germany, Norway, Sweden, United Kingdom and United...

Analyses of income inequality are often applied to the case of measuring total income inequality in a given population, but often it is more interesting to make research into how income inequality can be related to income differences between population subgroups or how income inequality can be...