The object of this paper is to assess the net distributive impact of state expenditures and revenues on labour income in Greece for the 1958-95 period. This effect is measured by the net social wage defined as the difference between the total benefits received by labour from state spending and...

This paper analyses the role which migration of highly educated labour plays in human capital reallocation. The study focuses on actual migrants, examining the direct effect of educational attainment on destination choices. The paper uses the ordered probability model and a micro-level data set...

Using time-series cross-section data from the manufacturing sector of the 11 West German 'Bundeslander' (Federal States) from 1970 to 1996, I examine the impact of public capital on private production. My econometric analysis explicitly takes into account four of the most frequent specification...

This paper identifies two competing accounts of recent US macroeconomic performance, both of which are capable of explaining the concurrence of low unemployment and low inflation experienced by the US after 1995. Econometric evidence provides partial support for both views, establishing that...

This paper applies a 'generalised' version of Thirlwall's balance-of-payments (BOP) constrained growth model by testing for long-run relationships between the output growth rates of OECD countries and two neighbouring regions; South Africa (SA) and the rest of the Southern African Development...

This study investigates the effects of gender on aggregate saving. We test the hypothesis that shifts in women's relative income, which can affect their bargaining power within the household, have a discernible impact on household saving and, by extension, gross domestic saving, due to differing...

Banks advance loans in the absence of precise knowledge in relation to the outcome of borrowers' projects. Consequently, uncertainty in relation to loan repayment emerges. Thus, banks introduce the 'credit standard' as insurance against loans, so that should borrowers' projects fail, borrowers...