This paper identifies the output gap using the theoretical definition of the gap within a Phillips curve in the spirit of the New Keynesian framework. Using Peruvian data for the period 1980:1-2005:4, the results indicate a very flat slope of the Phillips curve but the output gap is large and...

Purpose – The paper aims to study the effect of the unemployment rate and its volatility on crime in the USA. It proposes that not only the unemployment rate, but also its volatility affect the crime. Design/methodology/approach – First, the volatility of the unemployment rate is calculated...

Recent legalizations of cannabis at the state level in the United States have given rise to renewed interest in the price elasticity of demand for cannabis and implications for likely state excise and sales tax revenues. We use crowdsourced data on prices, qualities, and consumption of cannabis...