Following Leon-Ledesma and Thirlwall (2002a), this paper examines the hypothesis that the natural rate of growth of the Italian regions is endogenous to and positively affected by the actual growth rate. Relying on fixed-effects and SUR estimation techniques and using annual data for the 20...

This study examines the impact of female labour force attachment on health in Australia, where health care is socially provided. Longitudinal panel data from Women's Health Australia is used in a metric analysis to capture the impact of labour market attachment on the physical component health...

This paper investigates the importance of the external managerial labour market in the determination of managerial compensation and in the influence of the compensation incentives on a firm's R&D investments. I design an empirical model including the compensation adjustment regression, of which...

Exchange rate volatility is argued to affect the trade flows negatively and positively. Indeed, empirical studies that have addressed the issue have supported both effects. These studies have used aggregate trade flows data either between one country and the rest of the world or between two...

This paper follows the dual-cost function methodology and develops a theoretical specification that assesses the contribution of public R&D capital to the productivity growth. The empirical application focuses on the Greek food and beverages industry. For this purpose it employs a...

We re-explore the consequences of some popular countercyclical intervention rules in a simple Keynesian-type macroeconomic model in which the dynamics of consumer sentiment and business cycles are intertwined. We find that fiscal policy does not only have a direct effect on national income via...

This paper explores the relationship between pay inequality and unemployment rates for 187 European Regions from 1984-2003. We measure inequality within the regions between 16 industrial sectors in each region - and also between the regions: thus, the inequality measures are nested. Our model of...

Recent movements in stock and house prices have led to an examination of the presence of bubbles. Whilst, there is extensive research on stock price data, there is relatively less for house prices. This paper uses a present-value model for house prices to test for the presence of bubbles. The...

Amongst the hallmarks of a civilized society are that both the rich and the poor experience increasing longevity, and that both groups are entitled to leisure at the end of their working lives. Yet, as the economic crises of 2008-2009 reduces the value of assets in pension funds an emerging...

This article sheds light on a crucial aspect of the global crisis of 2007-2009: the steady increase of US consumer debt to precipitous levels over a quarter of century. That trend, fed by a combination of macro-economic, demographic, and political factors, intensified greatly in the 2000s when a...