This paper examines the unemployment-output relationship in Greece, using a dynamic version of Okun’s Law. The Granger … causality tests indicate that real output is important to understanding future movements in unemployment. The Okun’s ratio is 3 …-to-1, implying that one percent increase in unemployment has been associated to a three percent decrease in real output …

employment and unemployment and vice a versa. Thus, statistical inferences are readily available. Our results show that there are …

Can historical institutions affect today's firm innovation? We analyze a historical experiment in 1902, when the …

This paper studies the persistent impact of good institutions on economic development in China. By exploiting a British … customs institutions are also better developed today. Moreover, I show that the institutional switch was exogenous to the pre …-colonial development, and I provide different estimation models to reveal a robust and causal relationship between good institutions and …