Working-time reduction and employment: experiences in Europe and economic policy recommendations

The paper seeks to evaluate the evidence on the employment effectsof the collective working-time reductions in Europe over thepast 20 years. While theoretical analyses produce contradictoryassessments, most empirical studies show positive employmenteffects but take insufficient account of these conditions underwhich the reductions in working time were implemented. Theseconditions for the success of collective working-time reductionsinclude an active training policy designed to minimise skillshortages in the labour market, the modernisation of work organisation,wage increases in conjunction with productivity gains and amore equal income distribution.     

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Rivaroxaban for non-valvular atrial fibrillation and venous thromboembolism in the Netherlands: a real-world data based cost-effectiveness analysis

Background: Non-vitamin K antagonist oral anticoagulants (NOACs) have been included in international guidelines as important alternatives to vitamin K antagonists (VKAs) for the treatment of venous thromboembolism (VTE) and stroke prevention in non-valvular atrial fibrillation (NVAF). Meanwhile, in the Netherlands, NOACs are widely used next to VKAs. The objective of this study is to estimate the cost-effectiveness of treatment with rivaroxaban compared to VKAs in NVAF and VTE patients in the Netherlands, using data from international prospective observational phase IV studies.

Methods: Two models were developed to represent NVAF and VTE patients, populated with patients from the XANTUS (NCT01606995) and XALIA (NCT01619007) international prospective observational studies. The 1-year cost-effectiveness of rivaroxaban use, compared to VKAs, was explored in a population consisting of NVAF and VTE patients (base case) as well as for four scenarios with sub-populations: NVAF patients only, VTE patients only, NVAF patients with unstable international normalized ratio (INR), and NVAF patients using an INR self-measuring device.

Results: In the base case, rivaroxaban saved €72,350 and gained 21 quality-adjusted life-years (QALYs) in a simulation of 2,000 patients over the use of VKAs. Ergo, rivaroxaban was dominant over VKAs. The probabilistic sensitivity analysis showed a probability of 85% for rivaroxaban being dominant and 100% at a willingness-to-pay threshold of €20,000/QALY. Rivaroxaban appeared to be dominant in all scenarios as well, except for the NVAF-patients-only scenario where the incremental cost-effectiveness ratio (ICER) was €157/QALY.

Conclusions: In patients with NVAF or VTE, rivaroxaban treatment is likely to be cost-effective and a potentially cost-saving alternative to VKA in the Netherlands.     

Research Forum: cross border comparisons Introduction

This paper investigates the effect of non-audit services on audit quality. Following the announcement of the requirement to disclose non-audit fees, approximately one-third of UK quoted companies disclosed before the requirement became effective. Whilst distressed companies were more likely to disclose early, auditor size, directors' shareholdings and non-audit fees were not significantly correlated with early disclosure. These results cast doubt on the view that voluntary disclosure of non-audit fees was used to signal audit quality. The evidence also indicates a positive weakly significant relationship between disclosed non-audit fees and audit qualifications. This suggests that when non-audit fees are disclosed, the provision of non-audit services does not reduce audit quality.     

From univariate- to multivariate analysis

This paper is intended for those who are interested in the didactics of multivariate analysis. The problem studied is: how can the transition from univariate - to multivariate analysis be made as simple as possible? Here we provide a simple “codingkey”, which works logically and is easy to remember and to handle. Some of the notations are adopted from lecture-notes by L. C. A. Corsten .     

Economic Risk and Water Quality Protection in Agriculture

Producers' and consumers' risk perceptions and preferences can affect perceived costs and benefits of agricultural water quality protection. Many studies find that integrated pest management actually reduces economic risks to farmers. Results from crop rotation and conservation tillage studies are mixed, while nutrient management studies indicate a potential for higher risk compared with conventional practices. Uncertainty about pollution damages to water resources is likely also to increase the perceived benefits of a given quantity of water quality protection practices. Public policies to reduce uncertainty about the costs and benefits of water quality protection practices may produce net social benefits.