Canada's universities each receive an annual operating grant from their provincial government to partially finance operating expenses. This paper estimates the sensitivity of provincial operating grants to the business cycle by disentangling the effects of procyclical income on government...

To evaluate variations in the well-being dimensions of European citizens, we rely upon Principal Component Analysis methodology, whereby a large set of interrelated indicators are reduced to a small number of aggregate synthetic variables. We find that the 2008 crisis impinged differently on the...