Multi-sector, multi-region computable general equilibrium (CGE) models are typically based on the most recent consistent accounts of region- and sector-specific production, consumption, bilateral trade and energy flows as provided by the GTAP data base. However, even the most recent data base...

The concept of fair representation of voters in a committee representing different groups of voters, such as national representations in union of states, is discussed. This concept, introduced into discussion about voting rights in the Council of European Union in 2004, was narrowed to a...

Standard growth theory considers steady state equilibriums with a constant growth rate. Yet, a long tradition of long-term cyclical movements remains intolerable. Existing literature on "long waves" show tendencies toward monocausality, as well as cause-effect confusions. The present paper...

The objective of the paper is to investigate the stability properties of the European Money Demand function by means of multivariate time series modelling for the time period 1980 -2010 using aggregated data of EU17, European Union member states which use the euro as their currency. A...

The role played by natural resources in development has been part of the economic policy debate for some time. One of the issues that have risen the most interest is industrial development. On side there is evidence that there is “Dutch Disease”. On the other hand, there has been an...

There has been a long dispute about the relative importance of country versus industry diversification. We test the hypothesis that institutional ownership affects the relative importance of country and industry effects in explaining stock returns worldwide. We find that industry effects become...

The objective of this article is to examine the impacts of entrepreneurship on the performance of Iran's manufacturing industries using time series data over the period 1974-2006. More specifically, entrepreneurship capital measures are included in the production function of manufacturing...

It is generally acknowledged that the Canadian retirement income system (RIS) has successfully contributed to poverty alleviation among seniors and helped maintain an adequate and relatively stable income replacement rate. However, increased longevity, the trend decline in registered pension...

In the Caribbean Basin countries as in many other parts of the world, unemployment has become since the early 1980s one of the major dimensions of economic dysfunctions affecting societies. With levels that are above 15% and often reaching values of up to 20% or 30% during the decades 1980, 1990...

Over the past century, most industrialized countries have adopted public pension systems based pay-as-you-go system, according to which the actual contributors pay the pensions of the actual pensioners, with the expectation that future taxpayers pay their pensions when they retire. The evolution...