This paper analyses the interaction between school tracking policies and peer effects in OECD countries. Using the PISA 2006 dataset, we show that the linear peer effects are stronger and more concave-shaped in the early-tracking educational system than in the comprehensive one. Second, and more...

This paper investigates cross-market effects of policy instruments that were implemented in the table and quality wine market as one of the pillars of market intervention in Europe’s Common Market Organisation (CMO) for wine. We explore two hypotheses regarding the spill-over of distillation...

This work studies the interactions between income distribution and monetary and fiscal policies in terms of ensuing dynamics of macro variables (GDP growth, unemployment, etc.) on the grounds of an agent-based Keynesian model. The direct ancestor of this work is the "Keynes meeting Schumpeter"...

Time-diary data from 27 countries show a negative relationship between GDP per capita and gender differences in total workfor pay and at home. In rich non-Catholic countries men and women average about the same amount of total work. Survey results show scholars and the general public believe...

This paper carries out a comprehensive analysis of renewable energy innovations considering four mechanisms suggested by innovation models: 1. policy-inducement; 2. market structure; 3. demand and social cohesion- mainly proxied by income inequality; 4. characteristics of country knowledge base....

Recent empirical findings suggest that macroeconomic variables are seldom normally dis- tributed. For example, the distributions of aggregate output growth-rate time series of many OECD countries are well approximated by symmetric exponential-power (EP) den- sities, with Laplace fat tails. In...

This paper contributes to the debate on fiscal governance for the European Monetary Union, assessing the different fiscal rules currently discussed. We simulate a small scale macroeconomic model with forward looking agents, augmented with a public finances block. We account for both the positive...

We investigate the interactions between countries of the discretionary component of national fiscal policies (i.e. the cyclically- and interest-adjusted part of fiscal policy), therefore observing and investigating the part of public spending and tax receipts on which governments keep full...

This article studies the theoretical foundations of the two main structural wage equations proposed in the literature, namely the Phillips curve and the WS curve. It reinstates to a certain extent the wage Phillips curve by showing that the Phillips curve is preferable to the WS curve from a...

This paper presents a summary of the U.S. pension system. First, our goal is to explain how unfunded and funded pension schemes work. We also study how the economic and financial crisis has affected these different schemes. Moreover, we examine the official long-run forecasts of the evolution of...