In this paper we use a Bayesian approach to investigate the relationship between pedestrian fatality records from Tshwane and time of fatality. Time of fatality is used as a proxy to reflect the presence of effective lighting, not precluding the presence of any other lighting intervention. In...

Do congestion externalities offer a reason to depart from complete price stability as the only goal of monetary policy in a New Keynesian model featuring search frictions, and under what conditions is the welfare cost of labor-market distortions sizable? This paper tries to answer these...