The uniqueness of human labour is at question in times of smart technologies. The 250 years-old discussion on technological unemployment reawakens. Frey and Osborne (2013) estimate that half of US employment will be automated by algorithms within the next 20 years. Other follow-up studies...

The present article has investigated the effect of developing countries' duration of membership in the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) on their commercial services exports. It has relied on a set of 128 countries over the period from 2008 to...

This paper has investigated the utilization of non-reciprocal (or unilateral) trade preferences (NRTPs) provided by QUAD countries on poverty in recipient-countries. It uses a panel dataset of 77 beneficiaries of NRTPs over the period of 2002-2019, and considers two main blocks of NRTPs, namely...

We look at Korea's industrialization strategy and experience from the 1960s to the mid-1990s. Three elements of the Korean industrial development and structural change are discussed: 1) its outward orientation and export push, 2) its climb up the ladder of comparative advantage, and 3) its...

This paper uses a long time series of German employment data to test the theory of Ngai & Pissarides (2007). The theory suggests that the shift of employment shares from manufacturing to services is due to divergent growth rates of total factor productivity (TFP) in the two sectors. To test the...

In this paper we investigate the quantitative importance of efficiency wages in explaining fluctuations in Bulgarian labor markets. This is done by augmenting an otherwise standard real business cycle model a la Long and Plosser (1983) with unobservable workers effort by employers and wage...

In this paper we introduce reciprocity in labor relations and government sector to investigate how well the real wage rigidity that results out of that arrangement ex- plains business cycle fluctuations in Bulgaria. The reciprocity mechanism described in this paper follows Danthine and Kurmann...

In this paper, I study the sources of cross-country differences in unemployment dynamics. Elsby, Hobijn and Sahin (forthcoming) find that in Anglo-Saxon economies unemployment fluctuations are mainly driven by changes in the outflows out of unemployment, while in continental European and Nordic...

This paper investigates for the presence of a New Keynesian Phillips (NKPC) curve in Hungary in the period 1981:3-2006:2, following the methodology proposed by Gali and Gertler (1999). They claim that a potential source of inflation may be the sluggish adjustment of real marginal costs to...

The EU is one of the three largest economies in the world. But its economy, which is still suffering from the cCOVID-19 pandemic and the negative effects of the Russian war in Ukraine, faces a bleak outlook. Inflation, or even stagflation, is a major concern as it reflects cost pressures from...