This paper studies the impact of financial crises on society. Using data on 187 banking crises in 126 countries over the period 1970-2009, I examine the impact of a crisis not only on the economy and the financial sector, but also on health, education, poverty, and gender issues. A wider-angle...

Limited attention has been paid to how well social mobility measures debated and used to study industrial countries perform in analysis of low-income settings. Following brief, selective reviews of the axiomatic and econometric literatures, three mobility concepts illustrate how properties that...

Analysis of the dynamics of lending and household deposits allows to find interesting models of consumer behaviour from the perspective of consumption and savings balance. They fit into four provisional, sequentially alternating types of population's activity, which often depend on the number...

The “surprise value” of many economic observations makes our discipline quite interesting for many students. One such anomaly is that providing “free” education in an effort to reduce the number of drop-outs can often result in a smaller amount of education purchased. This result is very...

The “surprise value” of many economic observations makes our discipline quite interesting for many students. One such anomaly is that providing “free” education in an effort to reduce the number of dropouts can often result in a lower level of educational quality purchased. This result...

The paper proposes two estimation approaches for duration models that are subject to right censored observations and selection effects. Main focus is on accelerated duration models and the estimators that are of the limited information type, i.e. they are not based on a fully specified selection...

This paper bolsters Prescott's (2004) claim that high taxes are responsible for lacklustre labor market performance in continental European countries. We develop a lifecycle model with endogenous skill formation, endogenous labor supply, and endogenous retirement. Labor taxation distorts not...