This paper bolsters Prescott's (2004) claim that high taxes are responsible for lacklustre labor market performance in continental European countries. We develop a lifecycle model with endogenous skill formation, endogenous labor supply, and endogenous retirement. Labor taxation distorts not...

A previous system of community service in the public interest was replaced in 2011 in Hungary with a “public employment” system, in which the government temporarily employs disadvantaged, unemployed people who are healthy and able to work and who are within the age limits for working, but...

Arabic Abstract: تناولت الورقة دور التمويل الأصغر في تطوير المشروعات الصغيرة ، مطلب أساسي في ظل الظروف الراهنة وتهدف إلى دراسة دور التمويل الأصغر في تطوير المشروعات...

A vast literature on public pensions shows that pay-as-you-go schemes may be preferable to funded schemes despite arguments of return dominance. A heavily cited reason for this is redistribution. One aspect that is rarely considered, however, is that the positive correlation between income and...

PurposeThe purpose of this paper is to examine the link between banking crises and the subjective well-being of individuals. In addition, the authors examine the transmission of crises from the banking sector to well-being and show that negative financial shocks have significant adverse...

Troika economics has brought Greece to a serious depression at a zero lower bound, with near unlimited supply of labor and near unlimited demand for money. In this paper, it is argued that these circumstances dictate to Greece the implementation individually of a long-term self-financing...

The COVID-19 pandemic and the associated government mandated shutdowns caused a historic shock to the U.S. economy and a disproportionate job loss concentrated among the working class. While an unprecedented social safety net policy response successfully offset earnings loses among lower-wage...

The COVID-19 pandemic and the associated government mandated shutdowns caused a historic shock to the U.S. economy and a disproportionate job loss concentrated among the working class. While an unprecedented social safety net policy response successfully offset earnings loses among lower-wage...

Despite little to no academic attention, widespread perception of the welfare state policies is a critical aspect of its evaluation, existence and the validity processes; especially that amongst youth and the new generations. This paper discusses welfare or the quality of life perceptions in...

This paper examines the determinants of social spending in Latin America during the period 1990–2012 and how they differed between the years of the Washington Consensus (1990–2000) and the period that followed (2001–2012). Special attention is also paid to the evaluation of convergence...