This paper explores the link between the measurement of intergenerational mobility and the notion of equality of opportunity. We show how recently proposed theories of equality of opportunity can be meaningfully adapted to the intergenerational context. This throws a new light on the...

We examine the relative benefits of industrial versus geographical diversification in the Euro zone before and after the introduction of the common currency. A priori, one may expect that increased stock market correlation would precipitate a move from geographical towards industrial...

This paper is concerned with comparing adversarial with co-operative industrial and trade policies in a dynamic oligopoly game in which a home and foreign firm compete in R&D and output and, because of spillovers, each firm benefits from the other's R&D. Because the government cannot commit to...

In this paper we reexamine the linkages between output growth and real stock price changes for the G7 countries using a battery of non-parametric procedures to account for the impact of long-lagged observations. We find that correlation between growth and returns is detected at larger horizons...

This paper examines how to improve tactical asset allocation by better risk management instead of concentrating on maximising returns. This is achieved by using forecasts of the time- varying conditional covariance matrix of returns obtained from a new specification of the multivariate GARCH...

This paper aims to analyse the effect of disability on participation in the labour force, using the Irish component of the European Community Household Panel Survey 1995-2000. A range of panel models are considered, but to allow for any unobserved influences or state dependence in labour force...

We apply simple measures of convergence in per capita GDP, namely, the trends in the coefficient of variation (sigma-convergence) and rank concordance (gamma-convergence), for the period 1960-1992 to a wide group of countries which are classified using the World Bank typology. The findings...

Proofs of compatibility of the expected utility and µ/s approaches to incorporating uncertainty in decision making exist for at least some utility functions and location-scale distributions. But there are severe constraints and it is desirable to investigate compatibility more widely. We do so...

We introduce endogenous leadership in a game between government and firms, in which the government has short-run commitment power only and firms choose when to invest. We show that firms that delay investment in the absence of government intervention have an incentive to invest early and...

Regressions relating the growth rate in income to initial income have been the source of much recent debate in growth economics. Recent research has emphasised the importance of allowing for non- linearities in these models when explaining the evolution of income over time. In this paper we...