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Using annual data for 18 OECD countries over the period 1980-2004, we investigate how labour and financial factors interact to determine unemployment by estimating a dynamic panel model using the system generalized method of moments (GMM). We show that the impact of financial variables depends...
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Reforms often occur in waves, seemingly cascading from country to country. We argue that such reform waves may be … driven by informational spillovers: uncertainty about the outcome of reform is reduced by learning from the experience of …
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