Legal simplification may improve the quality of institutions in industrialised countries that developed over-complex legal systems. In theory, this type of regulatory reform promotes economic efficiency, leading to higher levels of productivity and output. In this paper we use a Panel...

We demonstrate that the cyclical behaviour of markups is related to the cyclical behaviour of government spending. For plausible parameter assumptions, pro-cyclical spending results in less counter-cyclical mark-ups. Evidence for thirteen OECD countries confirms a weak version of this hypothesis

To stop climate change, we have to limit global warming to 1.5°C. But can we still achieve this target? And if so, what pathways can society take in transiting towards a climate-just economy? One important yardstick emerging from it was the need for global emissions to reach net-zero by 2050,...

This paper surveys the link between imperfect competition and the effects of fiscal policy on output, employment and welfare. We examine static and dynamic models, with and without entry under a variety of assumptions using a common analytical framework. We find that in general there is a robust...