Serious life events, such as the loss or the onset of a chronic condition may influence cognitive functioning. We examine whether the cognitive impact of such events is stronger if conditions very early in life were adverse, using Dutch lnogitudinal data of older persons. We exploit exogenous...

We connect the recent medical and economic literatures on the long-run effects of early-life conditions, by analyzing the effects of economic conditions on the individual cardiovascular (CV) mortality rate later in life, using individual data records from the Danish Twin Registry covering births...

This paper contains a theoretical and empirical study of sacrifice ratios with long-lived effects including possible strong persistence effects or even hysteresis effects The empirical analysis is based on G-7 quarterly output data as well as unemployment data from 1960 to 1999 In this paper I...

In this paper we quantitatively evaluate the hypothesis that the Great Moderation is partly the result of a less activist monetary policy. We simulate a New Keynesian model where the central bank can only observe a noisy estimate of the output gap and fnd that the less pronounced reaction of the...

La evolución macroeconómica uruguaya en los últimos quince años ha sido satisfactoria, tomando como referencia el desempeño que había caracterizado a este país desde mediados de los cincuenta. El crecimiento económico ha sido sostenido desde que Uruguay salió de la crisis cambiaria y...

Este estudio examina la situación laboral en el Perú y encuentra evidencia de una profunda transformación en el mercado de trabajo durante los noventa. En primer lugar, la creación de empleos en el sector privado se aceleró enormemente a partir de 1992. Sin embargo, el fuerte y simultaneo...

We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a realistic firm size distribution. As entrepreneurial firms can grow only slowly and rely heavily on retained earnings to expand the size of their business in this set-up, we show that,...