We study the implications of having different sources of nominal rigidities on the relationship between productivity growth and shocks volatility in a model with pro-cyclical R&D and imperfect competition in goods and labour markets. We show that the effects of uncertainty on long-term growth...

We examine the relationship between fiscal deficits and per-capita income growth in a panel of 28 European countries, allowing for perceived risks, in terms of fiscal sustainability, associated with additional government spending. Such risks are proxied by the conditional variability of...

This paper contributes to the crime literature by exploring how the crime-uncertainty interaction impacts on economic growth. Using a panel of 25 countries over the period 1991-2007, we find evidence suggesting that increased crime has an asymmetric effect on growth depending on the future...

The article considers the interrelationships between ideas of fairness and ideas of evidence, and how progress in the policy pursuit of fairness in health and healthcare has been plagued by problems with vocabulary, vagueness as to values, deplorable absences of relevant empirical knowledge and...

A methodological discussion is proposed, aiming at illustrating an analogy between game theory in particular (and mathematical economics in general) and quantum mechanics. This analogy relies on the equivalence of the two fundamental operators employed in the two fields, namely, the expected...

We examine the relationship between fiscal deficits and per-capita income growth in a panel of 27 European countries, allowing for perceived risks, in terms of fiscal sustainability, associated with additional government spending. Such risks are proxied by the conditional variability of...

Whilst firms often prefer secrecy to patents and process innovations particu- larly lend themselves to secrecy, we establish a rationale for process innovators who patent. Using a simple two-period model, we show that under myopic op- timisation, the incentive to patent rather than pursue...