During the nineties, unemployment fell in a number of European countries while it remained high in others. This Paper … political constraints, the prevalence of ideology, and agency issues within those bureaucracies concerned with the unemployment … problem. Some speculative thoughts are offered as to why those factors might be more stringent in countries where unemployment …

We develop a theoretical nonlinear model of equilibrium unemployment and test its policy implications for a number of … OECD countries. The theory here sees the natural rate and the associated equilibrium path of unemployment as endogenous … demanding more or less social protection. The results from a dozen OECD economies appear to confirm a pattern of unemployment …

restricted conditions. Constitutional institutions might be necessary to incentivize explicit cooperation – the anti …

-faire ideology and blind faith in the invisible hand. With public-sector capital, this interplay of beliefs and institutions leads to …

This paper challenges cross-sectional findings that democratic institutions have a negligible direct effect on economic … institutions. We study democratization in a before-after event study approach that enables us to control for time-invariant country … representative institutions on economic activity. They also favour Friedrich Hayek (1960)’s idea that the merits of democracy appear …

discussion includes the roles of institutions, interest groups and ideas in driving reform. …

public office, institutions to encourage elected officials to keep their campaign promises are weak, and competition for …