Several studies have shown that perceptions of inequality vary with individuals’ socioeconomic location: the higher the level of income, the less inequality is perceived. Here we argue that another type of location, the rural or urban area where an individual lives, is an important determinant...

In this paper we uncover growth volatility regimes and identify their robust determinants using a large international panel of countries. In doing so we propose a novel empirical methodology that allows us to simultaneously deal with two key elements of model uncertainty, namely theory...

This paper studies how unionisation structures that differ in the degree of wage setting centralisation interplay with the strategic choice of production capacity by firms and how this affects product market outcomes. When labour markets are unionised and firms compete in quantities, they...

We examine the impact of an optimal emissions tax on research and development of emission reducing green technology (E-R&D) in the presence of R&D spillovers. We show that the size and eectiveness of the optimal emissions tax depends on the type of the R&D spillover: input or output spillover....

Using a long historical dataset, we estimate a Threshold Vector Autoregression (T-VAR) model for the UK based on a financial stress measure, the debt-to-GDP ratio, borrowing costs and real GDP growth. Our model allows for the impact of debt/GDP to vary between periods of high and low economic...

The intergenerational effect of fetal exposure to malnutrition on cognitive ability has rarely been studied for human beings in large part due to lack of data. In this paper, we exploit a natural experiment, the Great Chinese Famine of 1959-61, and employ a novel data set, the China Family Panel...

This paper studies the cyclicality of schooling decisions. Its novelty is threefold. This is the first study that focuses on Canada. Second, the analysis is based on longitudinal data, while previous papers in the literature mainly focused on pooled cross-sectional data. Third, the analysis...

This study revisits Lilien’s sectoral shifts hypothesis for the US. We employ quantile regression estimation in order to investigate the asymmetric nature of the relationship between sectoral employment and unemployment. Significant asymmetries emerge. Lilien’s dispersion index is...

This paper develops a novel and efficient algorithm for Bayesian inference in inverse Gamma Stochastic Volatility models. It is shown that by conditioning on auxiliary variables, it is possible to sample all the volatilities jointly directly from their posterior conditional density, using simple...