This paper analyzes the effects of selected structural reforms on output and employment in the short and medium term. It uses a comprehensive cross-country firm-level dataset covering both advanced and emerging market economies over the period 2003-2014. In line with previous studies, it finds...

This paper analyzes the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level data based on Orbis. It provides four key insights. First, product market reforms...

Although exam scores are reported using numerical values, their measurement scale is ordinal: They depend on the difficulty distribution of the questions in the exam. Hence, population groups or countries should not be ranked according to average exam scores because there may exist an admissible...

Although exam scores are reported using numerical values, their measurement scale is ordinal: They depend on the difficulty distribution of the questions in the exam. Hence, population groups or countries should not be ranked according to average exam scores because there may exist an admissible...

I use a Bayesian Markov-switching model to forecast world GDP per capita over the next 100 years. The switching model estimates the probability that a country is currently on a path to converge to the world frontier for each country in the world, as well as the probability that a country that is...

The case against patents can be summarized briefly: there is no empirical evidence that they serve to increase innovation and productivity. There is strong evidence, instead, that patents have many negative consequences

The success of any type of risk management activity, including financial stability monitoring and policy implementation, depends on the quality, completeness and timeliness of the data underpinning the analysis. The recent breakdown in some over-the-counter (OTC) derivatives markets is often...

By allowing carriers to route telephone calls over low-cost private lines, international simple resale (ISR) makes it possible for carriers to provide international telephone service without owning an international circuit. When approved, ISR reduces entry barriers and can increase competition....

Carbon markets are substantial and they are expanding. There are many lessons from experiences over the past eight years: fewer free allowances, better management of market-sensitive information, and a recognition that trading systems require adjustments that have consequences for market...

No one ever argues for copyright on the grounds that superstar artists and authors need more money, but what if that is all, or mostly all, that copyright does? This article presents newly available data on the distribution of players across the PC videogame market. This data reveals an L-shaped...