In recent research age distribution effects on the current account have been found in cross-country panel regressions. The reason is different effects on saving and investment from cohort-size variation. In a panel of annual OECD data 1960-1995, we find that the age effects on saving are similar...

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...

The potential transformation of labour markets by the emergence of online labour platforms has triggered an intense academic, media and policy debate, but its true scale remains speculation. Nevertheless, adequate policy responses hinge on a good understanding of dynamics - something that will...

The clock is ticking and time is running short for us to have a realistic chance to get climate change under control and prevent it becoming irreversible and selfsustaining. Phasing out coal is widely seen as a 'low hanging fruit' of climate policy commitments in the move towards a net zero...

The positive association between the service sector share of output and per capita income is one of the best-known regularities in all of growth and development economics. Yet there is less than complete agreement on the nature of that association. Here we identify two waves of service sector...

This paper presents a comprehensive set of stylised facts for business cycles in India from 1950-2010. We show that most macroeconomic variables are less volatile in the post reform period, even though the volatility of macroeconomic variables is still high and similar to other emerging market...

Growth of per-capita income is associated with (i) significant shifts in the sectoral economic structure, (ii) systematic changes in relative prices and (iii) the Kaldor facts. Moreover, (iv) cross-sectional data shows systematic expenditure structure difference between rich and poor households....

Detection of structural change is a critical empirical activity, but continuous 'monitoring' of series, for structural changes in real time, raises well-known econometric issues that have been explored in a single series context. If multiple series co-break then it is possible that simultaneous...

This paper examines the link between structural change and growth in India. It constructs indices of structural change, and performs a time series analysis of the data. It finds that 1988 marks a break in the time series of growth and structural change. There is one-way causality from structural...