The Hodrick-Prescott filter is a popular tool in macroeconomics for decomposing a time series into a smooth trend and a business cycle component. The last few years have witnessed global events, such as the Global Financial Crisis, the COVID-19 pandemic, and the war in Ukraine, that have had...

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...

We study the structural differences among climate change leading "factors" - Northern EU members -, and lagging actors - southern EU countries and the "Umbrella group" - with regard to long run carbon-income relationships. Homogeneous and heterogeneous panel models show that the groups of...