Low teacher motivation and its detrimental effect on student achievement are central problems of many education systems in Africa. Using standardized data for student achievement in Burkina Faso, Cameroon, Cote d'Ivoire, Madagascar and Senegal, this paper analyzes the empirical links between...

The enlargement of the European Monetary Union is likely to lead to an increase of uncertainty about the transmission of monetary policy for the larger union. Adding new members to the central bank council will in addition imply that the preferences of the enlarged council will be uncertain in...

The standard literature on working time has modelled the decisions of firms in a deterministic framework in which firms can choose between employment and overtime (given mandated standard hours). Contrary to this approach, we follow the real options approach, which allows us to investigate the...