This paper presents further evidence on the importance of sectoral shifts by examining unemployment fluctuations in the United States over the period 1960 to 1991, extending previous research in three directions: first, by using a thirty-industry decomposition of quarterly nonagricultural...

The authors show that, in interdependent unionized economies, cooperation between wage-setters at home and abroad improves both their own positions and social welfare relative to universal Nash play. Moreover, a move from all-around Nash play to cooperation between home and foreign unions and...

Using both standard regressions and Markov-Chain Monte-Carlo estimation methods from a Bayesian perspective and a sample of 39 countries for 1981-2006, we re-examine the role of central-bank independence (CBI) in macroeconomic outcomes. Control variables commonly used in the literature are...

This article contributes to the crime literature by exploring how the crime--uncertainty interaction impacts on economic growth. Using a panel of 25 countries over the period 1991 to 2007, we find evidence suggesting that increased crime has an asymmetric effect on growth depending on the future...

We examine the relationship between fiscal deficits and per-capita income growth in a panel of 27 European countries, allowing for perceived risks, in terms of fiscal sustainability, associated with additional government spending. Such risks are proxied by the conditional variability of...

We examine the relationship between crime and per-capita output growth in a panel of 26 countries for 1995-2009, focusing on the various channels through which crime can constrain growth and exploring the extent to which these channels are influenced by economic conditions. A simple structural...

We examine the relationship between fiscal deficits and per-capita income growth in a panel of 27 European countries, allowing for perceived risks, in terms of fiscal sustainability, associated with additional government spending. Such risks are proxied by the conditional variability of...

This paper explores the relation between trade flows and cross-country symmetry of supply and demand shocks using data from the EU-27 countries. Increased bilateral trade intensity is found to have a positive impact on the correlation of both demand and supply shocks. Intra-industry trade is...