The paper demonstrates that policy makers have a precautionary motive to undertake more labour-market reform - and hence attain lower equilibrium unemployment - inside a monetary union than outside. The reason is a desire to reduce the utility cost of variations in employment when asymmetric...

The FAO provides estimates of the prevalence of undernutrition which are claimed to be comparable over countries and time. These estimates form the empirical foundation for the resolution adopted by 186 governments at the World Food summit in 1996, with the intent of reducing the number of...