Mixing economic theory and empirical analysis, this book tackles the economics and econometrics of codetermination, rooted in the German Mitbestimmung. The core themes are an examination of the theory and practice of co-determination at plant (work councils) and enterprise (worker directors) levels.

This text argues that the process of globalization is asymmetric. Although the growing role of multinationals suggests favourable prospects for higher global growth and economic catching-up, there is also a new concept of a long-term equilibrium income gap in which convergence seems unlikely.

Economic development has cyclical dynamics and long-term dynamics the latter are typically related to demographical changes, innovation and long-term insti- tional changes in open economies. Financial markets that means mainly capital markets and labor markets are affected in OECD countries both by innovations and institutional reforms. As regards demographics ageing is a typical challenge on both sides of the Atlantic, and pension reforms in industrialized countries have placed greater emphasis on capital markets than in previous decades. Innovation dynamics certainly are also quite...

Presents an analysis of unemployment characteristics and of global technological trends as well as R&D policies in EU countries and the US and shows opportunities for reforms.

High unemployment rates in the period of an internationalization of economies and an intensified technological competition are the main problems that exist in most EU countries. Taking stock of unemployment patterns, technological trends and employment opportunities in the EU and the US is crucial for the reform debate in Europe. In continental Europe, major problems are an insufficient creation of new firms in innovative technology fields, inadequate labor market developments and inconsistent R&D policies. Founded on new data evaluations, the book presents an innovative analysis of these...

John T. Addison and Paul J. J. Welfens Because inflation seems moribund in OECD countries, stubborn unemployment became the top policy priority of the 1990s. Unemployment has increased in many countries, reaching critical levels for unskilled and young workers in most continental EU countries. Europe's employment performance has continued to lag that in North America. The U. S. in particular achieved a remarkable combination of low inflation and full employment in the late 1990s, at a time when the EU suf fered from record unemployment rates, even if inflation was remarkably low. Since the...