Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the pension space, which measures the capacity to pay for pension expenditures out of labour taxation, and the pension space exhaustion probability reflecting demographic...

The European higher education landscape has become increasingly integrated causing competition among universities that is no longer bound to national borders. In view of this development, the present paper investigates the relative efficiency of 450 European universities between 2011 and 2014....

Are natural resources a 'curse' or a 'blessing'? The empirical evidence suggests either outcome is possible. The paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources. These include that a resource...

We construct the world’s centers of gravity for human population, GDP and CO2 emissions by taking the best out of five recognized data sources covering the last two centuries. On the basis of a novel distorsion-free representation of these centers of gravity, we find a radical Western shift of...

We provide an interesting empirical evidence dealing with the cross country data on equality i.e. movements of Gini coefficient over last four decades. This seems to suggest a robust empirical evidence that the growth or change in inequality across nations has a negative relation with initial...

In this paper, we construct an elaborate general equilibrium model with a continuum of production fragments for an intermediate good, then embed it in a growth model to address the effects of global production fragmentation, vertical specialization and trade on growth and inequality for a small...

In this paper, we investigate the impact of trade and financial liberalization on the degree of stock market co-movement among emerging economies. Using a sample of 25 developing countries observed over 15 years, we estimate the impact of reforms which aim at opening these countries to trade and...

After 162 years of political unification, Italy still displays large regional economic differences. In 2019, the per capita GDP of Lombardia was 39,700 euros, but Calabria’s per capita GDP was only 17,300 euros. We build a two-region, two-sector model of the Italian economy to measure the...