Spectral risk measures (SRMs) are risk measures that take account of user risk-aversion, but to date there has been little guidance on the choice of utility function underlying them. This paper addresses this issue by examining alternative approaches based on exponential and power utility...

The failure of decreases in oil prices to produce expansions that mirror the contractions associated with higher oil prices has been a topic of considerable interest. We investigate for the G-7 one explanation for this feature - the role of uncertainty about oil prices. In particular, we examine...

Using a sample of 1,154 European firms from 11 countries, we show that firm-level exchange exposure for Eurozone and non-Eurozone European firms has increased since the advent of the euro, but this rise was smaller for Eurozone than non-Eurozone firms. The increase in firmspecific risk is offset...

This study assesses alternative Asian exchange rate regimes and finds short- and long-run currency dynamics more conducive to the possibility of introducing a common peg based on a basket of the European euro, the United States dollar and the Japanese yen than the alternative of re-introducing a...

The primary goal of inter-generational mobility (IGM) research has always been to explain how and why social origins influence peoples’ life chances. This has naturally placed family attributes at centre stage. But the role of social institutions, most notably education systems, as a mediating...

To estimate the causal effect of breastfeeding on children's cognitive skills as measured at ages 3, 5, 7 and 11.

The well-being of immigrant youth — of the first or second generation — is intimately tied up with their socio-economic status and success; in turn, their success and how immigrant youth relate to the society around them are important elements of social cohesion and well-being for those...

While there is an extensive literature on intergenerational transmission of economic outcomes (education, health and income for example), many of the pathways through which these outcomes are transmitted are not as well understood. We address this deficit by analysing the relationship between...