This paper investigates the relationship between the main business cycles features and the institutional and structural characteristics of countries in which they are observed. We derive the business cycle characteristics of the individual countries using the nonparametric Harding-Pagan...

This paper analyzes the relationship between income distribution and the severity of economic crises, where the severity is measured by the length and the depth of the recessions. Using an extensive panel dataset on income distribution and employing an event study framework, we find significant...

This paper provides new evidence on the relative effectiveness of formal monetary institutions in achieving price stability. The institutions considered are, specifically, central bank independence (CBI), inflation targeting (IT), currency boards (CB) and monetary unions (MU). An empirical...