By calibrating a Solow model augmented by natural resources, this paper offers a simple explanation of the labor scarcity paradox during the process of America's catching up with Britain, which static models have difficulties in accounting for so far.

This article investigates the tail dependence structure between energy market and stock markets returns in the BRIC (Brazil, Russia, India and China) countries over the period from 12 January 2000 to 28 December 2012. Using the regime switching dynamic symmetrized Joe--Clayton (SJC) copula...