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This paper exploits a data rich environment to provide direct econometric estimates of time-varying macroeconomic uncertainty, defined as the common volatility in the unforecastable component of a large number of economic indicators. Our estimates display significant independent variations from...
Persistent link: https://www.econbiz.de/10013075857
A number of economic studies have used a proxy for world real economic activity derived from shipping costs. This measure turns out to depend on a normalization that has substantive consequences of which users of the index had been unaware prior to this paper. This paper further evaluates this...
Persistent link: https://www.econbiz.de/10013233754
This paper applies multidimensional affluence measures to a new dataset on income and wealth in 15 Eurozone countries. We start our analysis by examining the income and wealth distributions separately for each country, and extend it to a multidimensional setting by considering the joint...
Persistent link: https://www.econbiz.de/10011288530
With the recent release of the 2011 purchasing power parity (PPP) data from the International Comparison Program (ICP …
Persistent link: https://www.econbiz.de/10010528588
This paper examines a famous puzzle in social science. Why do some nations report such high happiness? Denmark, for instance, regularly tops the league table of rich nations' well-being; Great Britain and the US enter further down; France and Italy do relatively poorly. Yet the explanation for...
Persistent link: https://www.econbiz.de/10010380028
In this paper we propose a new approach to international comparisons of real GDP measured from the output-side. The traditional Geary-Khamis system to measure real GDP from the expenditure-side is modified to include differences in the terms of trade between countries. It is shown that this...
Persistent link: https://www.econbiz.de/10013240994
With the recent release of the 2011 purchasing power parity (PPP) data from the International Comparison Program (ICP …
Persistent link: https://www.econbiz.de/10012246152
The expansion of U.S. universities after World War II gained from the arrival of immigrant scientists and graduate students, the broadening of access to universities, and the development of military research and high technology industry. Since the 1980s, however, growth of scientific research in...
Persistent link: https://www.econbiz.de/10013095711
Recently competition policy has become an important trade policy issue, since many policy makers now see competition … theoretical point of view and from the review of the recent development of the Japanese competition policy. While voluntary trade … positive international spillover on the export from foreign countries. Thus, the recent focus on competition policy from market …
Persistent link: https://www.econbiz.de/10013228236
National Time Accounting is a way of measuring society's well-being, based on time use. Its explicit form is the U-index, for "unpleasant" or "undesirable", which measures the proportion of time an individual spends in an unpleasant state. In this paper I review cross-country evidence on...
Persistent link: https://www.econbiz.de/10003679395