Belgium is characterised by a comparatively high tax wedge. Starting from the end of the 90's there has been a growing concern over the effect of high labour costs on the employment of low skilled workers. One of the most innovative measures implemented by the federal government is the targeted...

Amartya Sen has developed the so-called capability approach to meet the criticism that income alone may be insufficient as a measure of economic inequality. This is because knowledge about people’s income does not tell us what they are able to acquire with that income. For example, people with...

Mandelbrot (Int Econ Rev 1:79–106, <CitationRef CitationID="CR18">1960</CitationRef>) proposed using the so-called Pareto–Lévy class of distributions as a framework for representing income distributions. We argue in this article that the Pareto–Lévy distribution is an interesting candidate for representing income distributions...</citationref>

Was the Great Depression the outcome of a massive coordination failure? Or was it a unique equilibrium response to adverse shocks? More generally, do aggregates fluctuate partly because agents occasionally settle on inferior, low-level equilibria? These questions lie at the heart of the current...