This paper studies the migration response of the youth from new EU member states to disparate conditions in an enlarged European Union at the onset of the Great Recession. We use the Eurobarometer data and probabilistic econometric models to identify the key drivers of the intention to work in...

This paper studies the migration response of the youth from new EU member states to disparate conditions in an enlarged European Union at the onset of the Great Recession. We use the Eurobarometer data and probabilistic econometric models to identify the key drivers of the intention to work in...

In the post-Fordist economy, a skilled workforce is crucial for maintaining competitiveness in the global economy. Nevertheless, how to measure the demand for skills remains a puzzle. The main issue discussed in this paper is how can online based surveys serve researchers and policy makers as a...

We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of decreasing returns at the industry level. As the size of the active mutual fund industry increases, a fund׳s ability to outperform passive benchmarks declines. At the fund level,...

We develop a general equilibrium model of government policy choice in which stock prices respond to political news. The model implies that political uncertainty commands a risk premium whose magnitude is larger in weaker economic conditions. Political uncertainty reduces the value of the...