Introduction -- The empirical puzzle: the post-industrial divergence of Allentown and Youngstown -- Historical antecedents : the emergence and divergence of regional social structures, 1743-1945 -- Two critical choices : invoking social structure in crises -- How Allentown got its groove back :...

This paper presents and compares several time-series models for returns of broadbased stock indices. These models nest a nonlinear asymmetric GARCH (NGARCH) model as a special case. Some of these models are empirically motivated ad-hoc specifications others are derived from a representative...

A model is presented for simulating the tax burden on highly skilled manpower. The effective average tax rate, defined as the relative wedge between total remuneration and disposable income, is computed. Income and payroll taxes and social security contributions not yielding an equivalent...