Documents market 36 results

"Regulation is often thought of as an activity that restricts behaviour and prevents the occurrence of certain undesirable activities, but the influence of regulation can also be enabling or facilitative, as when a market could potentially be chaotic if uncontrolled. This Handbook provides a clear and authoritative discussion of the major trends and issues in regulation over the last thirty years, together with an outline of prospective developments. It brings together contributions from leading scholars from a range of disciplines and countries. Each chapter offers a broad overview of key current issues and provides an analysis of different perspectives on those issues. Experiences in different jurisdictions and insights from various disciplines are drawn upon, and particular attention is paid to the challenges that are encountered when specific approaches are applied in practice. Contributors develop their own distinctive arguments relating to the central issues in regulation and apply scholarly rigour and clear writing to matters of high policy-relevance. The essays are original, accessible, and agenda-setting, and the Handbook will be essential reading both to students and researchers and to with regulatory and regulated professionals."

"Le monde actuel vit un paradoxe inouï. D'un côté, la cause semble entendue : il est plongé dans la crise par les comportements erratiques des marchés financiers. De l'autre, des millions d'êtres miséreux rêvent d'avoir accès au marché, au lieu où, à la ville, ils pourraient troquer un petit rien contre un autre qui les tirerait du besoin. Le marché est une institution d'échange dont toute l'histoire est marquée par les dérèglements des usages qu'en firent et en feront des êtres cupides, intéressés par leur seul enrichissement à court terme et aux antipodes de la fiction chère à la théorie économique d'un individu mû par la seule rationalité éclairée. Le marché est aussi un moyen d'émancipation pour les damnés de la terre ou du travail sans qualité. C'est ce que rappelle Laurence Fontaine, historienne qui a le goût de l'archive et de l'anecdote exemplaire et la passion des allers-retours explicatifs entre hier et aujourd'hui. Ici, l'économie est à la hauteur de ces hommes et de ces femmes qui veulent améliorer leur sort par l'échange de menus biens ou de produits coûteux, dans la Lombardie ou le Paris du XVIIIe siècle, comme dans les provinces reculées du Bengale, de la Chine ou de la Mauritanie contemporains. Car le marché est facteur d'émancipation, notamment pour les femmes, qui accèdent à la responsabilité par l'échange, le commerce, la gestion du budget, voire le crédit. Émancipation des pauvres rivés à leur endettement, émancipation de la femme qui desserre l'étau du patriarcat, émancipation globale d'une économie informelle qui accède aux circuits monétaires régulés. Mais émancipation d'une extrême fragilité si elle ne s'accompagne pas de la reconnaissance pour chacun des mêmes droits que pour les autres. N'en déplaise aux repus de la consommation, cette reconnaissance passe aussi par la possibilité d'accéder aux mêmes biens : les exclus demandent une chose première parce qu'ils la savent essentielle pour tout le reste – un accès sans condition au marché."

"Capitalism as a system began after departing from feudal structures after the middle of the 16th century. It has now passed through three phases: commercial capitalism; industrial capitalism; and corporate or transnational capitalism. The process of worker alienation began in the phase of industrialisation and has led to complete commodification and to the abstraction of human beings, not only from others but also from self. On the capital side, a certain degree of alienation is also taking place in terms of its roles and way of use. This is leading to the opening up of new forms of ethical and moral norms, as well as a setting of new values, made manifest through various forms of reform of social systems. It is possible to observe work as an engine of productive relations, not only in terms of productivity but also in terms of its ethical and moral principles. Current events point to the problem of finding a permanent solution in the form of a new ethical doctrine which has for its goal a review of the objective scope and historical restrictions of capitalist methods of production. "

"In this article, we analyse the influence of the banks' market power and efficiency in the transmission of monetary policy in central and eastern European countries. The role of other factors, such as liquidity and capitalisation levels and the size of the bank concerned, has already been studied, but the impact of market power and efficiency levels has not, to our knowledge, been the subject of any study. In this article, we try to shed light on this subject. We measure market power in terms of the Lerner Index, while efficiency scores are determined by the parameter frontier approach. Our results confirm the conclusions of previous studies: higher levels of liquidity and capitalisation and a higher amount of banking assets reduce the repercussions of monetary policy for banks' lending behaviour. Concerning the market power and efficiency of banks, we show that the more efficient the bank is and the higher market power that it has, the lesser the impact of monetary policy on its lending activity. "

"Using annual data on 80 countries for 1980–2007 and a new indicator of product market regulation, this paper studies the effects of product market regulation on labor market performance among the total population as well as among two important groups of labor market outsiders: women and youth. It finds that stricter regulation is likely to both increase the unemployment rate and decrease the employment rate. The magnitude of the estimated effects is substantial. There are above-average effects on both groups of outsiders, with the effects being particularly strong on youth. The results are robust to variations in specification."

"We contribute to the growing literature which aims to link product market regulation and competition to labor market outcomes, in an attempt to explain the divergent US and continental European labor market performance over the past two decades. The main contributions of this paper are threefold. First, we show that the choice of bargaining regime is crucial for the effect of product market competition on unemployment rates, being substantial under collective bargaining and considerably more modest under individual bargaining. Since the choice of bargaining institution is so important, we endogenize it. We find that the bargaining regime which emerges endogenously depends crucially on the degree of product market competition. When product market competition is low, collective bargaining is stable, while individual bargaining emerges as the stable institution under high degrees of product market competition. This also allows us to link product market competition and collective bargaining coverage rates. Our results suggest that the strong decline in collective bargaining coverage and unionization in the US and UK over the last two decades might have been a direct consequence of the Reagan/Thatcher product market reforms of the early 80's. Finally, we calibrate the model to assess the quantitative magnitude of our results. We find that moving from the US low regulation-individual bargaining economy to the EU high regulation-collective bargaining economy leads to a substantial increase in equilibrium unemployment rates from 5.5% to 8.9 % in the model economy."

"We develop a theoretical and empirical analysis of the impact of barriers to entry on workplace training. Our theoretical model yields ambiguous predictions on the sign of this relationship. On the one hand, given the number of firms, a deregulation reduces profits per unit of output, and thereby reduces training. On the other hand, the number of firms increases, and so does the output gain from training, which facilitates the investment in training. Our numerical simulation shows that for reasonable values of the parameters a negative relationship prevails. We use repeated cross section data from the European Labour Force Survey to investigate empirically the relationship between product market regulation and training incidence in a sample of 15 European countries and 13 industrial sectors, which we follow for about 7 years. Our empirical results are unambiguous and show that an increase in product market deregulation generates a sizeable increase in training incidence."

"The term ‘aesthetic labour' has come to describe the recruitment, selection, development and deployment of physical and presentational attributes geared towards ‘looking good and sounding right' (Warhurst and Nickson, 2007: 104). Further research has identified a degree of stratification within interactive service work, with further distinctions developing around how particular aesthetic requirements reflect firms' brand strategies, market orientations and how they appeal to different consumer groupings – what we term, following Pettinger (2004, 2005), ‘aestheticised labour'. This article presents quantitative data and analyses the prevalence, character and use of aesthetic and aestheticised labour in the Australian fashion retail industry based on a study of fashion retail stores in the central business district of Sydney, Australia. Building on previous work, it identifies that what constitutes aesthetic labour varies according to the market segment and character of the store and brand. As such it reinforces the utility of ‘aestheticised labour' as a means of identifying nuances in the intensity and orientation of aesthetic labour within the retail sector."

"In reaction to the recent financial crisis, the European Commission re-stated its view that the balance between flexibility and security is the key to success for the future of the European social economy, as well as its belief in the power of institutional arrangements it deems necessary for this balance. However, do powerful institutions actually counter market forces where flexicurity is concerned? In this paper we address this question by analysing the impact of institutional configurations and market factors on perceived employment insecurity among workers in Europe. We use the 4th wave of the European Social Survey for 2008/2009, which covers 22 countries, and implement a multi-level approach where contextual effects are taken into account and individuals are considered to be embedded within a country. We find that policies that secure one's income and employability skills, such as passive and active labour market policies, are more important for providing employment security for individuals than institutions that secure one's current job, such as employment protection. Of the economic and labour market factors, general market conditions (measured as employment rate average) and the strength of the financial crisis (measured as gross domestic product growth rate from 2008 to 2009) are both similarly influential in explaining cross-national variance in the employment insecurity perception of individuals. More generally, and most interestingly, we find that institutional factors lose their significance when market factors are taken into account. Thus, it seems that differences in economic and labour market conditions between countries better explain why workers feel insecure about their employment, than the differences in employment and income policies. Although this result could be influenced by the time period under investigation, which is characterized by a financial crisis, results from previous studies using data from different periods suggest that it is not period-specific."