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A method of systematically assessing the “first-round” impact of tax and transfer policy changes on the income distribution and the incidence of relative income poverty is proposed. It involves the construction of a “distributionally neutral” policy, which can be approximated by a policy that indexes tax allowances, credits and bands and welfare payment rates in line with a broad measure of income growth. The impact of actual policy changes in five EU countries over the 1998–2001 period is then measured against this benchmark, using the EUROMOD tax-benefit model.

This study finds evidence that a stock return is inversely correlated with downside risk, confirming a pattern of risk-aversion behavior. Evidence from testing a stock return's response to a change in economic policy uncertainty indicates a significantly negative effect in the Chinese stock market; this conclusion holds true for testing the impacts of changes in fiscal and monetary policy uncertainties. However, the data produce a mixed effect for the change in fiscal policy uncertainty. The evidence produced from examining the geopolitical effect on the stock market strongly supports the presence of an adverse effect on stock market performance.

Regional minimum income (RMI) schemes have been a fundamental tool for fighting poverty in Spain at a regional level. However, the redistributive power of these schemes has not been as effective as was expected in reducing inequality during the last decades. On the other hand, the introduction of the new ‘Minimum Vital Income’ (MVI) by the Spanish Central Government represents a novel measure for fighting poverty, by guaranteeing minimum incomes from a national perspective as a policy response to the asymmetric impact of the COVID-19 crisis upon income distribution. Using EUROMOD,¹ this paper simulates both the distributional effects of the introduction of the MVI and what the effects on inequality and poverty in each Spanish region would be if the national scheme were to substitute the current regional schemes. The results referring to MVI introduction indicate that inequality and poverty would decrease in all dimensions: incidence, intensity, and inequality among the poor (Foster–Greer–Thorbecke poverty measures). Additionally, the negative effects of RMI elimination would be offset by the positive effects of MVI introduction for most regions, leading us to consider that the simulated scenario entails better redistributive results, as well as additional savings for Spanish Public Accounts, in a context of growing debt. Our findings can provide public policy-makers with useful information about the convenience of fighting poverty at a national level as regards distribution and revenue.

What enables some employee ownership firms to overcome the free rider problem and motivate employees to improve performance? This study analyzes the role of human resource policies in the performance of employee ownership companies, using employee survey data from 14 companies and a national sample of employee-owners. Between-firm comparisons of 11 ESOP firms show that an index of human resource policies, nominally controlled by management, is positively related to employee reports of co-worker performance and other good workplace outcomes (including perceptions of fairness, good supervision, and worker input and influence). Within-firm comparisons in three ESOP firms, and exploratory results from a national survey, show that employee-owners who participate in employee involvement committees are more likely to exert peer pressure on shirking co-workers. We conclude that an understanding of how and when employee ownership works successfully requires a three-pronged analysis of: (1) the incentives that ownership gives; (2) the participative mechanisms available to workers to act on those incentives; and (3) the corporate culture that battles against tendencies to free ride.

Purpose: This chapter looks specifically at the sources of economic policy uncertainty in Nigeria, and discusses their impact on the Nigerian economy while drawing implications for Africa. It identifies factors that transmit uncertainty in economic policy in Nigeria and draw implications for other African countries.

Methodology: This chapter uses a literature survey methodology to identify the sources of economic policy uncertainty in Nigeria.

Findings: The identified sources of economic policy uncertainty in Nigeria are: the frequent changes in central bank policy, unexpected changes in government policy, political interference, unexpected fall in global oil price, recession, and unethical practices.

Implications: The implication of the study is that rising economic policy uncertainty in Nigeria can have a significant effect on the Nigerian economy and for connected African countries.

Originality: Previous studies have not examined the sources of economic policy uncertainty in Nigeria.

The chapter furnishes empirical evidence about the extent and profiles of autonomy of EU agencies, the modalities whereby they are steered and controlled, and the interactions they have in EU policy networks. It thus provides the bases for a more complete picture of the EU multi-level administration.

The research is a survey-based design. A questionnaire was administered between July 2009 and April 2010 to 30 EU agencies included in the study population. The questionnaire was sent to the executive director of all the agencies included in the study. Questions were closed-ended, either in the form of multiple choices – with one answer or with check-all-that-apply and an option for ‘other’ to be filled – or in scale format. The resulting data set included ratio, interval, ordinal, and nominal scales. The reference model employed for the investigation relies on the analytical model developed within the framework of the research project COST Action IS0651 CRIPO (Comparative Research into Current Trends in Public Sector Organization – see also ‘Acknowledgements’) for the study of public agencies in Europe (Verhoest, Van Thiel, Bouckaert, & Lægreid, 2012).

EU agencies display a rather low level of managerial, especially financial, autonomy; conversely, they enjoy relatively high policy autonomy. As to the way in which multiple ‘parent’ administration steer EU agencies, it emerges a composite picture, in which the crossroads of steering and control by the parent administrations and accountability by the agency lies in the executive director. In terms of interactions within policy networks, EU agencies interact in a significant way with the European Commission, with national-level agencies in the pertinent policy field, and with specific technical bodies where they are part of the configuration of the policy sector, whilst interactions with national ministries as well as with other EU agencies are rare. No single model can capture in full the overall features of EU agencies, although the ‘community level institution’ model seems to capture a number of the profiles of these agencies.

Both the literature on EU multi-level administration and research agendas in public management can benefit from inclusion of – and in-depth empirical knowledge about – EU agencies. The chapter provides important empirical evidence to these purposes.

EU agencies are actors in European public policy-making, albeit to a varied extent depending on the sector. The extent of autonomy and the way in which they are held to account are crucial aspects for an enhanced understanding of their influence on European public policy-making, as is their location in European policy networks.

Research presented in this chapter is the first systematic empirical investigation of EU agencies encompassing networking, steering and control and autonomy of EU agencies, based on primary data.