The macroeconomic approach to the labor market aims at explaining aggregate labor market phenomena that have been present in many industrialized countries such as the United States or the western European countries in the ...

Chapter 1 proposes simple and robust diagnostic tests for spatial dependence, specifically for spatial error autocorrelation and spatial lag dependence. The idea of our tests is to reformulate the testing problem such that ...

The recent "Great Recession" has thrown macroeconomic research into a state of disarray and has clearly shown the need to go beyond traditional business cycle explanations. However, many of the recently proposed business ...

The recent Great Recession has renewed interest in the role of financial markets and credit in the economy, as well as in the boundaries of monetary, macroprudential and fiscal policies that impact macroeconomic developments ...