Policy makers need to separate between temporary demand-driven shocks and permanent shocks in order to design optimal aggregate demand policies. In this paper we study the case of a central bank that ignores the presence of hysteresis when identifying shocks. By assuming that all low-frequency...

We study how licensing, certification and unionisation affect the wages of natives and migrants and their representation among licensed, certified, and unionized workers. We provide evidence of a dual role of labor market institutions, which both screen workers based on unobservable...

We investigate the impact of labour market concentration on two dimensions of job quality, namely wages and job security. We leverage rich administrative linked employer-employee data from Denmark, France, Germany, Italy, Portugal and Spain in the 2010s to provide the first comparable...

Why did some countries vote not to condemn Russia's invasion of Ukraine at the United National General Assembly's first emergency session since 1997? Our study examines different economic, political, geographic and historical reasons behind the voting behaviour of several countries in favour of...

We study the acceptability of war as a necessary tool to obtain justice under certain conditions across individuals from Russia and Ukraine in 2011. We discuss which socio-economic, political and individual characteristics shape the support for using destructive military force to achieve...

We examine several measures of uncertainty to make five points. First, equity market traders and executives at nonfinancial firms have shared similar assessments about one-year-ahead uncertainty since the pandemic struck. Both the one-year VIX and our survey-based measure of firm-level...