resident welfare. A tourism boom improves the terms of trade, increases labor employment, but lowers capital accumulation. The …, the expansion of tourism improves welfare. However, when the traded sector is strongly capital intensive, the fall in … capital can be a dominant factor in lowering national welfare. This dynamic immiserizing result of tourism on resident welfare …

Generous income support programs as provided by European welfare states have often been blamed to hamper employment …

Generous income support programs as provided by European welfare states have often been blamed to hamper employment …

involuntary part-time work are mostly explained by its interaction with full-time employment, and since the Great Recession …, we show that the higher probability of regaining full-time employment is key to distinguish involuntary part-time work … from unemployment from a worker's perspective. We also quantify the welfare costs of cyclical fluctuations in involuntary …