Although employee-representation systems coexist with a collective-bargaining framework in continental Europe for many years, US labor advocates have looked upon those representations systems with suspicion. The reasons for this suspicion are historical: US employee-representation systems have...

Societies socialize children about many things, including sex. Socialization is costly. It uses scarce resources, such as time and effort. Parents weigh the marginal gains from socialization against its costs. Those at the lower end of the socioeconomic scale indoctrinate their daughters less...

We extend the method of indirect inference testing to data that is not filtered and so may be non-stationary. We apply the method to an open economy real business cycle model on UK data. We review the method using a Monte Carlo experiment and find that it performs accurately and has good power.

Societies socialize children about many things, including sex. Socialization is costly. It uses scarce resources, such as time and effort. Parents weigh the marginal gains from socialization against its costs. Those at the lower end of the socioeconomic scale indoctrinate their daughters less...

We extend the method of indirect inference testing to data that is not filtered and so may be non-stationary. We apply the method to an open economy real business cycle model on UK data. We review the method using a Monte Carlo experiment and find that it performs accurately and has good power....

In his 2014 book, Thomas Piketty argues that wealth inequality is sharply increasing in r-g and refers to rg as ‘the central contradiction of capitalist economics', where r is asset returns and g is real income growth. To assess whether inequality is increasing in the (r-g)-gap this paper: 1)...

The U.S. economy is growing more slowly than it can and should be growing because it does not invest enough in infrastructure, science, and education. There is an important procedural obstacle to funding public investments — a process of scoring the economic effect of legislation. This process...

Societies socialize children about many things, including sex. Socialization is costly. It uses scarce resources, such as time and effort. Parents weigh the marginal gains from socialization against its costs. Those at the lower end of the socioeconomic scale indoctrinate their daughters less...

The paper analyses 19760/70s inflation, the replacement of Keynesian with neo-liberal economic policy, and the post-1979 decline in inflation. It is shown that the fall in inflation is explained by trends in import prices rather than by switches in economic policy. However, New Labour's...

This paper considers the ultimate causes of post-war UK business cycles. Using an extended stochastic growth model we construct estimates of a productivity and preference shock, both of which are highly persistent, volatile and potentially capable of explaining UK business cycles. We find the...