This article proposes an alternative monetary model for examining the effects of domestic monetary shocks on the exchange rate and the balance of payments. Using an output-expenditure framework, it shows that domestic monetary shocks can drive a wedge between national expenditure and production...

We review longitudinal studies on self-employment dynamics, classifying studies into those that examine transitions into self-employment, and those that examine self-employment exit and survival. A number of hypotheses from both the economic and social-psychological literatures are examined vis....

Over the last two decades, the U.S. has attracted more inflows of foreign direct investment (FDI) than any other country. General indications have pointed to FDI inflows as being a positive contributing factor to key US macroeconomic indicators. This study examines two categories of macro...

This paper examines the relationship between stock market growth and economic growth, privatization; stock returns in 12 emerging economies from 1988 to 2000. Using monthly data, both the Johansen Cointegration and Granger Causality tests are employed. Results from cointegration tests suggest a...

This paper studies the effects of several fiscal variables on the regional growth of labour productivity in Spain over the period 1965-1997. Panel estimates are reported for this sample. The results show that public consumption affects growth negatively whereas public investment exerts a...

This paper investigates the effect of EMU on US FDI flows into the European Union using panel data from fifteen EU countries for the period 1966-2003. The empirical findings suggest that EMU had a positive and statistically significant impact on US FDI flows into the twelve countries that...

Over many years, the comparison of tariffs and quotas has retained an important place in the study of trade restrictions. This note shows that there are substantial differences in the welfare effects of an equivalent tariff and quota designed to achieve identical import restrictions. When there...

This paper examines the impact of exchange rate volatility on US exports to the rest of the world, and to each of its five main markets of destination by means of the recently developed ARDL bounds testing approach to cointegration, which is applicable irrespective of whether the regressors are...

We develop the Barmby et al. (1993) model of absenteeism (which appeared in the Scandanavian Journal of Economics) to illustrate the potential for individuals to engage in ?presenteeism? viz. attending work even when they are entitled to paid absence.

This paper estimates US textiles import elasticities with 20 of its largest textiles exporters by utilizing cointegration methodology. The soon-to-be-implemented abolition of quotas on textiles makes the study of these import elasticities especially relevant to many developing countries...