Banning nuclear weapons is an aspiration at the core of most disarmament and non-proliferation initiatives. It gained new momentum with the "Treaty on the Prohibition of Nuclear Weapons." The negotiation of that treaty, and its subsequent approval and entry into force, sheds light on the...

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...