Since January revolution of 2011, Egypt is witnessing a slowdown of its economic growth, a drop in domestic and foreign direct investments, a considerable decline in  industrial production, a notable deterioration in  foreign reserves and a growing government deficit. To overcome these...

Using a mixture of macro variables such as growth and bank lending rates and firm-specific micro variables, this paper examines the determinants of short term debt using firm level panel data for Turkish manufacturing companies traded in Istanbul Stock Exchange. The original sample drawn from...

The study aims to analyze  Turkish economy for the period 2000-2012 with emphasis on hysteresis mechanism in labor markets. New Keynesian (NK) framework has natural rate (or Non Accelerating Inflation Rate of Unemploymet - NAIRU) vs alternative theory of hysteresis as  explanations for...

This paper presents a new approach to solve dynamic decision models in economics. The proposed procedure, called Nonlinear Model Predictive Control (NMPC), relies on the iterative solution of optimal control problems on finite time horizons and is well established in engineering applications for...

In Portugal, the public debate at regional level is typically absorbed in the discussion of asymmetries amongst the ‘interior’ and the ‘coast’. What is often discussed, with political and social relevance, is the extent of the interior’s delay (in terms of development) comparatively to...

The state budget crisis in the Eurozone has raised the issue of international trade imbalances prevailing in Europe. Whereas Germany holds a strong trade surplus other neighbouring countries show a deep trade deficit. The result is that some economies in Europe have built-up high debts in order...

One of the key factors behind the growth of global trade in recent decades is an increase in intermediate input as a result of the development of vertical production networks (Feensta, 1998). Manufacturing goods are no longer produced in a single country. Production processes are subdivided into...

Energy-Economy-Environment (E3) modelers have called to develop “hybrid” models that aim at reconciling bottom-up and top-down approaches (Hourcade et al. 2006) to overtake their respective limits: on the one hand, engineers focus on the fine representation of technologies but without taking...

I estimate the elasticity of substitution between capital, labour and energy in Central and Eastern European countries to make CGE models more accurate. The CGE models often use elasticity of substitution of production factors estimated for another countries or average of elasticities taken from...

We examine the impact of banking reform and financial crisis of 2001 on non-financial firm dynamics. Our analysis integrates the two lines of literature on financial liberalization, banking reform and access to capital and banking competition, which were addressed earlier by Bertrand, Schoar and...