In order to have an impact on the labor market, welfare states must implement active labor market policies (ALMPs). The effectiveness of ALMPs has only been the subject of a few numbers of studies, the majority of which only take into account the short-term effects of ALMPs and use aggregate...

Despite the fact that previous studies have extensively investigated the foreign direct investment (FDI)-growth nexus, those studies have not considered the role of terms of trade as a proxy for international competitiveness and structural changes. This paper investigates the causal nexus...

Previous studies have investigated the behaviour of trade flows at the aggregate level, thus they suffer from aggregation bias. In this paper, we use the sectoral data on agricultural exports and imports to examine whether they cointegrate. The likelihood-based panel cointegration technique is...

In this paper, we use the Johansen and Juselius cointegration technique to examine the long-run convergence between imports and exports for a number of industrialized countries. The results indicate that there exists a long-run steady-state relationship between imports and exports for most...

Prevailing narratives in the historical literature often paint a picture of Sweden having some of the poorest housing conditions in Europe during the early 20th century. This article challenges this widely accepted view by presenting a first-of-its-kind systematic and comparative study of...

This paper explores the profitability of portfolio-based momentum strategies. The data consists of all NYSE, AMEX, and NASDAQ stocks on the CRSP database. The analysis considers the period July 1963 to December 2002 and the tests are performed on portfolios formed on industry, size and...