With the increasing importance of investment in information and communication technology, methods for measuring the contribution of capital to growth have re-assumed centre-stage in recent growth accounting literature. The importance of using capital service growth rates rather than capital...

This paper provides an overview of recent papers which use estimated New Keynesian models to study the extent to which fiscal policy can be used to stabilize the economy. We use a variety of different New Keynesian models, estimated on data for both the US and for the Euro area, and highlight...

There is no consensus about the causes of the reduction in business cycle volatility seen in many major economies over the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic stability has been fostered by improved monetary policy and by...

In this paper we assess the empirical performance of commonly used empirical specifications of the baseline New Keynesian model for the US and the euro area. We estimate standard specifications of the model and extended specifications also including non-standard determinants of aggregate supply...

Public finance has both normative and positive elements, and moving between theory and practice requires attention to help us understand both what policies government should adopt and whether it is likely to do so. We should not be surprised when bad policies are adopted in spite of better...

Scientific research has played a critical role in the life of the university for a considerable period of time, both in Europe and in the US. While much remains the same in the relationship between science and the university, considerable change has occurred in recent years. Here we outline...

We analyze the effects of foreign nurse immigration on the occupational choice of natives and the quality of native entrants into the nursing sector. Using an empirical strategy that exploits large geographical differences in the distribution of foreign nurses across US states, we find that, in...

In this article we assess the impact of public support for R&D activities on the educational mix of R&D employees in private companies. Data on tax incentives in support of R&D activities of companies in Belgium are matched with R&D survey data to investigate changes in the share of R&D...