Abstract This paper provides a first look into the joint effects of research and development (R&D) market power on cyclicality employment. It presents theoretical model with R&D monopolistically competitive firms which shows that smooth their activities when they face large adjustment costs. smoothing behavior comes at expense higher labor volatility, it is stronger for high intensity l...

Executive summary. Since the advent of indexing as an investment strategy, there has been a robust debate over the merits of actively and passively managed funds. As a result, at various times throughout the year, an investor is likely to hear that some percentage of actively managed funds have outperformed the stock market over a given period of time.1 If during the period a majority of active...

Fatal Fluctuations? Cyclicality in Infant Mortality in India This paper investigates the impact of macroeconomic shocks on infant mortality in India and investigates likely mechanisms. A recent OECD-dominated literature shows that mortality at most ages is pro-cyclical but similar analyses for poorer countries are scarce, and both income risk and mortality risk are greater in poor countries. Th...