A quasi-linear, additively separable utility function is used to describe preferences between consumption and leisure and analyse occupational choice between one non-criminal and two criminal activities when individuals are heterogeneous in terms of their productivity. Occupational...

This paper provides an extended supply of labour model which allows for different intensities of legal and illegal (criminal) activities and in which criminal activities may be considered both as work and leisure. Heterogeneity of individuals is also taken into account. The model is estimated...

This article examines inflation dynamics in Europe. Econometric specification tests with pooled European data are used to compare the empirical performance of the New Classical, New Keynesian and Hybrid specifications of the Phillips curve. Instead of imposing any specific form of expectations...