Archives for CORE

From Dual to Unified Employment Protection: Transition and Steady State Juan Dolado, EUI Florence This paper studies the equilibrium and welfare implications of replacing a highly dual employment protection legislation (EPL) system with a unified EPL scheme. We develop a computationally...

Behavioural Paternalism, or the Sovereignty of the Neoclassical Consumer Guilhem Lecouteux (Université of Nice - Sophia Antipolis) Behavioural paternalism is based on the assumption that individuals have stable and context-independent 'true preferences', which reveal the subjective...

The Cross-Section of Currency Volatility Premia Pasquale DELLA CORTE, Imperial College Business School We identify a global risk factor that drives the cross-section of volatility excess returns in the foreign exchange market. We show that a zero-cost strategy that buys forward volatility...

The Inverse Cournot Effect in Royalty Negotiations with Complementary Patents Gerard Llobet, CEMFI, Madrid It has been argued that the licensing of complementary patents leads to excessively large royalties due to the well-known royalty-stacking effect. This paper shows that considering patent...