The paper surveys the methodology of generational accounting, a tool for gauging intertemporal imbalance in government finances facing demographic transition. Starting from the fiscal balance rule providing the theoretical background, we review the methods of generational accountants for...

According to the 2001 Spanish budgetary previsions, the government deficit is about to disappear. We analyse this matter within a generational accounting framework. Accounting for the recent expansive phase of the economic cycle, we find that current fiscal policy is also intertemporally...

We evaluate the effect of relaxing fiscal rules on policy outcomes applying a quasi-experimental research design. In 1999, the Italian central government introduced fiscal rules aimed at imposing fiscal discipline on municipal governments, and in 2001 the rules were relaxed for municipalities...

This paper presents a new method to correct for measurement error in wage data and applies this method to address an old question. How much downward wage flexibility is there in the U.S? We apply standard methods developed by Bai and Perron (1998b) to identify structural breaks in time series...

The International Labour Organisation (ILO) argues for relaxing the standard definition of unemployment in developing countries by eliminating the requirement that a person be actively searching for a job. We examine whether such an extension of the standard definition is appropriate in the case...

A growing body of literature over the past decade suggests that a firm?s organizational structure/capital can contribute in significant ways to the productive capacity of a firm. But, as with other intangible assets, there is no consensus definition of what this organizational capital is, how to...

This paper shows how distance functions, a tool typically employed in production economics to measure the distance between a set of inputs and a set of outputs, can be employed to approximate a composite measure encompassing the many dimensions of well-being. It also illustrates how to implement...

The process of globalization is an international economic order which has led to the progressive integration of the world economy through the pulling the barrier of trade and greater mobility of factors of production. In addition the technological innovation also provides impetus to the...

This paper has three objectives. The first is to discuss the major issues involved in defining and measuring child poverty. The choices that must be made are clarified, and a set of six principles to serve as a guide for public policy are stated. The second objective is to take stock of child...

Economics ignores the possibility of hedonic adaptation (the idea that people bounce back from utility shocks). This paper argues that economists are wrong to do so. It provides longitudinal evidence that individuals who become disabled go on to exhibit recovery in mental wellbeing. Adaptation...