Personal financial literacy is becoming increasingly important in the modern world, especially for young people. In this paper we compare financial literacy of high school students in Hamilton, New Zealand, with samples from Japan and the United States. We compare not only overall financial...

This paper offers a new perspective on Markov regime-switching approaches to asymmetries in Okun’s law by modeling the existing approaches as special cases. Prevailing models assume either asymmetry between unemployment and output across regimes or asymmetry within a single regime. Our...