Education has long been perceived as a great equalizer, but even with universal rises in schooling years, income distribution worsened world-wide. We propose a method for decomposing the contribution of a variable to the change in inequality into mean, dispersion, and price components. The...

Population ageing constitutes a central challenge to Finland. Understanding the Finnish economy's likely future trajectory and the key sources of growth is important for the design of policies to counteract these adverse long-term trends. For this purpose, we develop a novel long-run forecast...

Since its inception, the main analytical contribution of the Human Development Index (HDI) has been its emphasis on enhancing the quantity of its components. In this paper, a set of qualitative indicators are introduced in order to formulate a quality-adjusted human development index (Q-HDI)...

The levels of human capital and skills differ widely between continents and over time. While skills and human capital on the African continent have improved over time, a gap with other continents remains (Penn 2019). Of more concern, the gap in human capital between Africa and the rest of the...

We construct a new indicator of de facto financial integration in the EU. The resulting indicator is pro-cyclical as it evolves along the cyclical pattern of economic activity in the European Union. It is then appended to a set of relevant financial and macroeconomic variables, within a FAVAR...