By distinguishing between discretionary and non-discretionary fiscal policy, this paper analyses the stability of fiscal rules for EMU countries before and after the Maastricht Treaty. Using both Instrumental Variables and GMM techniques, it turns out that discretionary fiscal policy has...

Beyond unobserved heterogeneity in computer wage premiums: Most findings on the (non-)existence of a wage premium on computer use are biased because they are based on single-equation estimation of a wage equation. Controlling for fixed effects ignores the simultaneity problem. Through the...

This article focuses on a growth model in which (unlike other models) low (high) export demand elasticities and the fact that developing countries are importers of capital goods help explaining the slow (high) growth of these countries in the transition and in the steady state. The question...