The main of this paper is to set up a model able to embody some peculiarity of the Italian unionised labour market with regard to employment determination. The impact of unions on employment is measured both through direct and indirect effects via wages. Moreover, the theoretical framework used...

We propose independence and conditional coverage tests which are aimed at evaluating the accuracy of Value-at-Risk (VaR) forecasts from the same model at different confidence levels. The proposed procedures are multilevel tests, i.e., joint tests of several quantiles corresponding to different...

This paper compares pooled models of capital investment with non-pooled models using the UK's Confederation of British Industry's (CBI) Industrial Trends Survey for the U.K., particularly focusing on the effect of uncertainty on investment. The uncertainty measure is based on the cross sectional...

We investigate, using dynamic panel data techniques, the impact of differences in privatization methods, and in private sector and capital market development, on economic growth in transition economies. Mass privatization is found to be the only privatization method to have had a significant...

This paper presents an empirical analysis of the behavior of U.K. imports of manufactures, intended to develop understanding of nonprice competitiveness by evaluating the impact of capacity constraints, international specialization, and industrial standards. Two data sets are employed: aggregate...