We propose a nonparametric method to test which characteristics provide independent information for the cross section of expected returns. We use the adaptive group LASSO to select characteristics and to estimate how they affect expected returns nonparametrically. Our method can handle a large...

Die ostdeutsche Wirtschaft befindet sich in einem moderaten Aufschwung. Preisbereinigt dürfte die Wirtschaftsleistung im Jahr 2016 um 1,6 % gestiegen sein und im Jahr 2017 nochmals um 1,3 % expandieren. Im Freistaat Sachsen dürfte das Wachstum mit 1,7 % im Jahr 2016 und 1,4 % im Jahr 2017...

Rising government debt levels around the world are raising the specter that authorities might seek to inflate away the debt. In theoretical settings where fiscal policy "dominates" monetary policy, higher debt without offsetting changes in primary surpluses should lead households to anticipate...

The economic crisis caused by the Coronavirus (COVID-19) pandemic sharply reduced mobility and economic activity, disrupting the lives of people around the globe. This brief presents estimates on the crisis’ impact on labor markets in thirty-nine countries based on high-frequency phone survey...

The economic crisis caused by the COVID-19 pandemic has sharply reduced mobility and economic activity, disrupting the lives of people around the globe. This paper presents estimates on the early impact of the crisis on labor markets in 39 countries based on high-frequency phone survey data...

Using a new survey of European households, we study how exogenous variation in the macroeconomic uncertainty perceived by households affects their spending decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...

Throughout the developing world there is a growing demand for advice on the design of policies to facilitate access of the most vulnerable individuals to jobs, while reducing their dependency from public income support schemes. Even though these policies are common to both the activation and...

This report describes the findings of the value chain and jobs survey on the Medicinal and Aromatic Plants ("MAPs") in the North West of Tunisia. The survey also benchmarks the value chain against other leading countries in the MAPs industry to determine potential productivity gaps and areas for...

This report describes the findings of the survey on olive oil value chain in the North West of Tunisia, focusing particularly on the current and potential jobs landscapes. The survey also benchmarks the performance of the value chain against other leading countries in olive oil industry to...

This report provides an overview of a World Bank activity to support structural change for competitiveness and employment opportunities in Tunisia's lagging regions based on value chain and cluster analysis. While state-level policy changes are necessary and important contributions to tackle low...