We use Bayesian time-varying parameters VARs with stochastic volatility to investigate changes in the marginal predictive content of the yield spread for output growth in the United States and the United Kingdom, since the Gold Standard era, and in the Eurozone, Canada, and Australia over the...

We estimate the degree of ‘stickiness’ in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of auto-correlation, with a stickiness...

We develop a time-varying transition probabilities Markov Switching model in which inflation is characterised by two regimes (high and low inflation). Using Bayesian techniques, we apply the model to the euro area, Germany, the US, the UK and Canada for data from the 1960s up to the present. Our...

Using two period comparisons of six wealthy nations, the authors look at the extent of inequality at three levels of income: earned income, market income, and after tax and transfer disposable income. Interesting implications of the results are discussed.

Looks at the pre- and post-tax wage distribution of prime age males in six countries, focusing on Australia. Analysis includes an examination of the impact of income taxes and employer and employee contributions on the wage distribution.

Using LIS data the author explores the possibility that markets, the public sector, or demographic shifts affect the changing distribution of income among families in five industrialized countries in the 1980s.

Hourly wage differentials between part-time and full-time workers, using comparable microdata from LIS for the US, UK, Canada, and Australia are examined. Institutions and policies that contribute to different outcomes for part-time workers in these countries, and implications of these policies...

It is widely held that people who work have no difficulty in avoiding poverty and guaranteeing their family a decent standard of living. This idea has proved false, as many authors have shown that the ranks of the poor are filled with active people, sometimes even working full time. But,...

Using LIS data, Jäntti examines levels and trends in income inequality among families in five industrialized countries, namely Canada, the Netherlands, Sweden, the United Kingdom, and the United States, exploring the possibility that markets, the public sector or demographic shifts would...

This paper was originally presented a the Fourth International Research Seminar of the Foundation for International Studies on Social Security (FISS) in June 1997 in Sigtuna, Sweden. In the United States, several public policy initiatives have been undertaken to encourage more work and later...