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Mutual funds form the bedrock of retirement savings in the United States, and, considering their rapid growth, are sure to be more critical in the future. Because the size of fees paid by investors to mutual fund advisers can strongly affect the return on investment, these fees have become a contentious issue in Congress and the courts, with many arguing that investment advisers grow rich at the expense of investors. This ground-breaking book not only conceptualizes a new economic model of the mutual fund industry, but also uses this model to test for price competition between investment advisers, evaluating the assertion that market forces fail to protect investors' returns from excessive f...
As the European Community moves toward full integration of its members' economies, one of the most far-reaching changes will be in the European labor market. Nontariff barriers to trade between the member countries will be removed, and workers will become free to seek employment anywhere in the Community. As these changes take place, individual markets stand to lose their national identities while workers and employers face profound challenges. In this book, a group of leading labor economists and social scientists address an array of concerns about economic integration and provide insight into labor's likely response. They identify the challenges of the Single Market Program and explore the...
More than any other area of regulation, antitrust economics shapes law and policy in the United States, the Americas, Europe, and Asia. In a number of different areas of antitrust, advances in theory and empirical work have caused a fundamental reevaluation and shift of some of the assumptions behind antitrust policy. This reevaluation has profound implications for the future of the field. The Oxford Handbook of International Antitrust Economics has collected chapters from many of the leading figures in antitrust. In doing so, this two volume Handbook provides an important reference guide for scholars, teachers, and practitioners. However, it is more than a merely reference guide. Rather, it...
How popular democracy has paradoxically eroded trust in political systems worldwide, and how to restore confidence in democratic politics Democracies across the world are adopting reforms to bring politics closer to the people. Parties have turned to primaries and local caucuses to select candidates. Ballot initiatives and referenda allow citizens to enact laws directly. Many democracies now use proportional representation, encouraging smaller, more specific parties rather than two dominant ones. Yet voters keep getting angrier. There is a steady erosion of trust in politicians, parties, and democratic institutions, culminating most recently in major populist victories in the United States, ...
With the trend toward multinational corporations, free trade pacts and dismantling import barriers, organized labour has been steadily losing ground in the United States. To reverse this trend, this book argues that US unions must create ties with unions in other countries.
Eight leading economists discuss the recent history of monetary policy and its effects on the economy.
Using former cabinet minister and senator Allan J. MacEachen's career in public service as the organizing focus of the collection, contributors contrast the current retreat of government with the activist approach advocated by Allan MacEachen and his generation. They examine whether the public good will be enhanced by continuing retreat or whether that trend is the consequence of policy mistakes that can and should be corrected. In Pursuit of the Public Good addresses a wide range of fields, including politics, economics, social welfare, and public administration, in an engaging and straightforward style. Scholars and general readers alike will find this collection accessible and stimulating.
Well-functioning labour markets are a precondition for economic development. Here leading researchers present an overview of labour market workings providing new theoretical and empirical insights.
And synthesis / Peter J. Kuhn -- Displaced workers in the United States and the Netherlands / Joap H. Abbring ... [et al.] -- Worker displacement in Japan and Canada / Masahiro Abe ... [et al.] -- They get knocked down. do they get up again? / Jeff Borland ... [et al.] -- Worker displacement in France and Germany / Stefan Bender ... [et al.] -- Employment protection and the consequences for displaced workers / Karsten Albk, Marc Van Audenrode, and Martin Browning.
Over the last forty years, rising national income has helped reduce poverty rates, but this has been accompanied by an increase in economic inequality. While these trends are largely attributed to technological change and demographic shifts, such as changing birth rates, labor force patterns, and immigration, public policies have also exerted a profound affect on the welfare of Americans. In Public Policy and the Income Distribution, editors Alan Auerbach, David Card, and John Quigley assemble a distinguished roster of policy analysts to confront the key questions about the role of government policy in altering the level and distribution of economic well being. Public Policy and the Income D...