This study revisits Lilien’s sectoral shifts hypothesis for the US. We employ quantile regression estimation in order to investigate the asymmetric nature of the relationship between sectoral employment and unemployment. Significant asymmetries emerge. Lilien’s dispersion index is...

We present the current Italian economic crisis as a phase of a major systemic decline. We argue that “Italy’s system” has forced the country to abandon a “dynamic” view of comparative advantage, crucial for sustained economic growth, in favour of a “static” view of specialization....

We present the current Italian economic crisis as a phase of a major systemic decline. We argue that “Italy’s system” has forced the country to abandon a “dynamic” view of comparative advantage, crucial for sustained economic growth, in favour of a “static” view of specialization....

We develop a generalised impulse response function (GIRF) approach to explore the different impacts of aggregate and sectoral shocks within a VAR-GARCH-M model. Using the outout of our GIRF analysis, we explore the behaviour of three European countries(Gremany, Spain and the UK). We analyse the...