We describe the relationship between non-employment rates and age in Britain and consider how this relationship has been changing with the economic cycle. Using data from the British Household Panel Survey for survey years 1991–2008 and Understanding Society for 2009, we show that...

We offer a new explanation as to why international trade is so volatile in response to economic shocks. Our approach combines the uncertainty shock idea of Bloom (2009) with a model of international trade, extending the idea to the open economy. Firms import intermediate inputs from home or...