This paper develops a new data set using a new accounting methodology called National Transfer Accounts (NTA). NTA permit to build an accounting system that takes consideration the factor age into national accounts. NTA are consistent with national accounts and allows the estimation of lifecycle...

The unemployment rates of then-communist Central European countries were unnaturally low because of manipulated data and latent, "intra-firm" unemployment. As the transition of these states is now more than two decades ago, the question of how the NAIRU evolved since then arises. Because of the...

This paper investigates the factors underlying the dispersion in RULC growth rates across euro area countries. It addresses three main questions. First, how big are RULC growth differentials in EMU by historical perspective? Second, what are the reasons underlying such differentials and why does...

Virtual water trade refers to the implicit content of water in the production of goods and services. When trade is undertaken, there is an implicit exchange of water. Furthermore, when water gets scarce, water intensive goods become more expensive to produce and the economy compensates through...

The paper will discuss whether the increase or introduction of tourism taxation should be addressed through specific or general indirect taxation. With this objective, the paper will describes the concept of tourism taxes and will present different reasons that are in its bases of adoption. The...

This paper applies the Bayesian Averaging of Classical Estimates (BACE) approach to empirically study the determinants of economic growth in a panel data set that focuses on Central and Eastern European transition economies in the period 1995-2008. Although economic growth is used as a key...

This paper uses the IMF’s Global Integrated Monetary and Fiscal Model (GIMF) to assess the impact of fiscal consolidation on the Czech economy. Its contribution is threefold. First, it provides estimates of dynamic fiscal multipliers for a variety of fiscal instruments (tax and expenditure),...

Due to the climate change, the frequency and magnitude of extreme weather events, such as flooding and droughts, are predicted to increase in many parts of the world. Extreme weather events may cause significant material and human losses. In our study, we wanted to investigate how these events...

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Since the latter half of 1990s, a possibility has been suggested that many developing countries are going to face serious population aging problem while these economies are still underdeveloped and their preparations are insufficient. As the global interdependence of national economies has been...