Building on a new data set which is combined from national micro-data bases, we highlight differences in the structure of migrants to four countries, viz. France, Germany, the UK and the US, which receive a substantial share of all immigrants to the OECD world. Looking at immigrants by source...

For a long time, migration has been subject to intensive economic research. Nevertheless, empirical evidence regarding the determinants of migration still appears to be incomplete. In this paper, we analyze the effects of socio-economic and institutional determinants, especially labor-market...

The reduced-form correlation between inflation and measures of real activity has changed substantially for the main developed economies over the post-WWII period. In this paper we attempt to describe the observed inflation dynamics in the United Kingdom, the United States and the euro area with...

Long-horizon interest rates in the major international bond markets fell sharply during 2004 and 2005, at the same time as US policy rates were rising; a phenomenon famously described as a ‘conundrum' by Alan Greenspan the Federal Reserve Chairman. But it was arguably the decline in...

In this paper we model the role of open-economy effects within a New Keynesian Phillips Curve (NKPC) via the inclusion of intermediate imports in firms' production technology. Using this framework we provide evidence on two questions: first, does the inclusion of import prices help explain...

The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international efforts to coordinate and converge on such policies, national policy advice and resolution practices differ. The resolution methods adopted in the Nordic banking crises in the...