Recent literature has uncovered evidence that the seasonal pattern in industrial production changes over the business cycle, with seasonality being less pronounced in periods of high growth than in the low growth (or recession) business cycle phase. Matas-Mir and Osborn (2002) examine this...

This paper examines the growth effects of government expenditure for a panel of thirty developing countries over the decades of the 1970s and 1980s, with a particular focus on sectoral expenditures. Our methodology improves on previous research on this topic by explicitly recognising the role of...

We examine the ability of six labour market models to account for the business cycle behaviour of UK labour markets when embedded in a stochastic growth model. WE assess the models in terms of : (i) their ability to mimic general business cycle correlations and volatility (ii) their success at...

The link between infrastructure and industrial development is studied in an OLG model with endogenous skill acquisition. Industrial development is defined as a shift from an imitation-based, low-skill economy to an innovation-based, high-skill economy, where ideas are produced domestically....

This paper considers a model of firm dynamics to study how well aggregate shocks account for fluctuations in the entry and exit of establishments. To do this, I construct measures of aggregate financial and technology shocks. Under reasonable parameters, the model indicates that financial shocks...