Competitive equality as a criterion for financial reform

Many arguments about financial reform appeal to competitive equality among types of institutions. But this is irrelevant; what matters is equitable treatment, not of institutions, but of their owners and customers, and economic efficiency. There are two rival definitions of the former, avoidance of unexpected regulatory changes, and changing regulations to maintain markets. If no externalities exist, equity to customers requires imposing the same burden on customers of all institutions. So does the efficiency criterion. These criteria are applied to three problems: permitting demand deposits in thrifts, imposing a reserve requirement on such deposits, and eliminating Regulation Q.     

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Einzelbesprechungen

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Einzelbesprechungen

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Age and gender differences between pupils’ preferences in teaching general and compulsory technology education in Croatia

International Journal of Technology and Design Education - Today’s dynamic change of the pupils’ technological environment certainly affects their preferences towards technology, which...     

Das Mindestlohngesetz — Hoffnungen und Befürchtungen

The German government plans to introduce a minimum wage from 2015. This must be understood as a response to the decline in collective bargaining coverage and the marked increase in employment in the low-wage sector. The authors discuss how many workers are affected by this new regulation and whether the minimum wage is too high in relation to the average wage of workers (Kaitz index). They assume that the introduction of a minimum wage in Germany can have a number of effects. It is not possible to forecast all the reactions and behaviour of market participants to handle higher wages and goods prices. Some authors warn that these measures are significant labour market interventions that could have adverse employment effects. They recommend allowing more exemptions from the minimum wage law than intended by the government, especially for young employees and student apprentices. Other authors hope that minimum wages would help to strengthen collective bargaining and stabilise wages. Some authors emphasise that there should be a careful evaluation of the economic effects by scientists.