In this research report IDEAS explores the current euro crisis by looking at the debates preceding the conception of the euro. How can the early days of EU monetary cooperation help us understand today's predicament? And what lessons can we draw from them for the euro? Emmanuel Mourlon-Druol is...

As the moderately strengthened financial regulation of Basel III comes into effect over the next seven years, this article sets out a cautionary reminder as to why regulation needs to move beyond a focus on the mitigation and distribution of risk. To do so, the article unravels the...

Older cities in the US tend to be larger than younger ones. The distribution of city sizes is, therefore, systematically related to the country's city age distribution. We introduce endogenous city creation into a dynamic economic model of an urban system. All cities exhibit the same long-run...

I define a composite amenity that provides aesthetic and consumption value to local residents: Urbanity. A novel data set of geo-tagged photos shared in internet communities serves as a proxy for urbanity. From the spatial pattern of house prices and photos I identify the value of urbanity in...

Objective: Previous studies suggest that unemployment predicts increased cardiovascular disease (CVD) risk, but whether unemployment insurance programs mitigate this risk has not been assessed. Exploiting US state variations in unemployment insurance benefit programs, we tested the hypothesis...

We argue that incorporating the decision of how to organize the acquisition, use, and communication of knowledge into economic models is essential to understand a wide variety of economic phenomena. We survey the literature that has used knowledge-based hierarchies to study issues like the...

This paper discusses recent developments in the literature on local and regional innovative performance to show how an ‘integrated’ conceptual framework based on the cross-fertilization of different theories can serve as a foundation for the comparative analysis of territorial innovation...

Key Points: London local government has taken a 33 per cent real terms cut in service funding from central government between 2009/10 and 2013/14. Councils have been making strenuous efforts to make large savings without cutting front line services, and to protect services for those who need...

Truancy is often seen as irrational behaviour on the part of school age youth. This paper takes the opposite view and models truancy as the solution to a time allocation problem in which youths derive current returns from activities that reduce time spent at school. The model is estimated using...