price and wage rigidities to study four countries (the U.S., the U.K., Sweden, and Germany) during the financial crisis and … factors were also important in the U.K., but less so in Sweden and Germany. Reduced matching efficiency was considerably less … important in the U.K. and Sweden than in the U.S., but matching efficiency improved in Germany, helping to keep unemployment low …

Weak institutions ought to deter foreign direction investment (FDI), and mass media stories highlight China … institutions and its economic track record. Institutions clearly determine a country's allure as an FDI destination, but standard … that China's FDI inflow is inefficiently large because weak institutions deter domestic investment while special …

We revisit the debate over whether political institutions cause economic growth, or whether, alternatively, growth and … establish the proposition that institutions cause growth are constructed to be conceptually unsuitable for that purpose. We also … variety of additional evidence, suggest that a) human capital is a more basic source of growth than are the institutions, b …

This study examines the changes in labor market institutions and outcomes across (ECD countries in the past two decades … and relates indicators of the institutions to outcomes. It has four findings. First, there has been an increased … divergence in labor market institutions, with unionisation growing or remaining at high levels of density in some countries while …

Quality of public institutions has been recognized as a crucial determinant of macroeconomic outcomes. We propose that … its incentives in investing in better institutions. We present a simple theory and extensive empirical evidence validating …

institutions. We review work with a theoretical, empirical, and historical bent to assess the presence of a two-way causal effect … between culture and institutions …