The paper reviews national and international experiences with different combinations of in-work benefits, subsidized employment, statutory minimum wages and implicit minimum wages defined by social assistance provisions. It calls for a cautious approach regarding the introduction of additional...

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups - industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...