We document an asymmetry in the rigidity of 9-ending prices relative to non-9-ending prices. Consumers have difficulty noticing higher prices if they are 9-ending, or noticing price-increases if the new prices are 9-ending, because 9-endings are used as a signal for low prices. Price setters...

This open access book addresses an urgent issue on which little organized information exists. It reflects experience in Africa but is highly relevant to other fragile states as well. - Constantine Michalopoulos, John Hopkins University, USA and former Director of Economic Policy and...

We show that in a exogenous growth model with Epstein-Zin (1989, 1991) recursive preferences calibrated to Bulgarian data under the progressive taxation regime (1993-2007), the economy exhibits equilibrium indeterminacy. These results are in line with the findings in Benhabib and Farmer (1994,...

Hintergrund: In Deutschland gehören Rückenschmerzen zu den häufigsten Erkrankungen quer durch alle Bevölkerungsschichten. Rund 80 bis 85% der Bevölkerung berichten von Rückenschmerzen im Verlauf ihres Lebens und bei 10–15% der Patienten ist ein chronischer Verlauf festzustellen....

This article examines the effect of Aid for Trade (AfT) flows on services export diversification in recipient-countries. The empirical analysis has relied on a sample of 100 recipient-countries (of which 31 Least developed countries – LDCs) over the period 2002-2014 and used the two-step...

This study revisits and tests empirically the Portfolio Theory of Inflation (PTI), which analyzes how the effectiveness of macroeconomic policy in open and globally financially integrated economies is influenced by global investor decisions (Bossone, The portfolio theory of inflation and policy...

This paper aims to revisit the relationship between intangible capital and labour productivity growth using the largest, up-to-date macro database (2000-2015) available to corroborate the econometric findings of earlier work and to generate novel econometric evidence by accounting for times of...

This article revisits the effects of life expectancy (LE) on economic growth (IPC) reported in previous research. Maximum likelihhod (ML) estimates are obtained based on the monotonic nonlinear flexible Box-Cox power transformation regression model. This variance stabilizing model, unlike the a...

Agricultural commodity markets in developing countries are characterized by high transaction costs and risks that reduce trade flows among spatial markets. In this article, we examine whether institutionalized agricultural commodity exchange markets reduce transaction costs and hence spatial...