What is the impact of higher technological volatility on asset-prices and macroeconomic aggregates? I find the answer hinges on its sectoral origin. I document several novel empirical facts: Volatility that originates from the consumption sector plays the “traditional” role of depressing the real economy and stock prices, whereas volatility that originates from the investment sector boosts pric...

The paper discusses frameworks in which the financial sector is at the eye of the storm. In that context, policies that do not repair the damage in the financial sector are, by necessity, second‐best. Actually, aggregate demand policies – emphasized in textbook Keynesian models – may be inferior to heterodox policies that rely on credit targeting. Moreover, based on salient characteristics of m...

Open access under CC BY license. Lubomír Kováčik a,⇑, Sami Kereïche , Johanna L. Höög , Pavel Jůda , Pavel Matula , Ivan Raška a Charles University in Prague, First Faculty of Medicine, Institute of Cellular Biology and Pathology, Albertov 4, 128 01 Prague 2, Czech Republic b Sir William Dunn School of Pathology, University of Oxford, South Parks Road, Oxford OX1 3RE, UK MPI-CBG, Photenhauerstr...

Ivan Whiteside Magill, from Larne, is one of our most illustrious 'wild geese' (Fig 1). In 1912 as a medical student he was issued with a certificate confirming that he had, as part of his training, administered one anaesthetic (Fig 2). At that time, this was the only statutory requirement of training in anaesthesia for the qualifying examination of MB, BCh, BAO. The certificate was signed by R...

Ginzburg and Ivan A. Sag, published by CSLI Publications. ©2001 by CSLI Publications. All rights reserved. This text may be used and shared in accordance with the fair-use provisions of U.S. copyright law, and it may be archived and redistributed in electronic form, provided that this entire notice, including copyright information, is carried and provided that CSLI Publications is notified and ...

We analyze the pace and patterns of job reallocation in Ukraine using 1992-2000 panel data on nearly the surviving universe of manufacturing firms inherited from the Soviet Union. Employment growth displays substantial increase in heterogeneity during this transition period, with a corresponding rise in excess job reallocation. Unlike data for Soviet Russia in the 1980s, Ukrainian job reallocat...