This paper compares the determinants of economic growth and 'full' income growth. Our main result is that determinants may differ or have very different impact on welfare outcomes as compared to economic outcomes. Human ...

We argue that education exerts positive external effects on health, beyond the standard internal effects documented in the literature. We implement an innovative approach to control for endogeneity and omitted variables ...

This paper considers the relation between immigration and prices in a number of countries across the world over the period from 1990 to 2006. Immigration is shown to have a negative impact on international relative prices. ...

The full impact of trade costs in segmenting product markets cannot be captured by considering aggregate prices or in the absence of information on the direction of trade. We address this problem by utilizing product-specific ...

We use monthly data across fifteen euro-area economies for the period 1985:1-2015:3 to obtain different monetary policy shocks pertaining to more versus less informed individuals. We then investigate how these affect ...