The aim of this paper is to analyse the role of human capital in the productivity gains of the OECD countries in the period 1965-90, breaking down the productivity gains into technical change and gains in efficiency. For this purpose we use both a stochastic frontier approach and a...

There is considerable literature on the promotion of small and medium establishments (SMEs) in developing countries. Rather little attention has been given to the long-term performance of these in the development process. This paper considers the small literature on the trends in the SMEs'...

The objective of this paper is to assess whether the Ricardian Equivalence Proposition (REP) holds in developing countries. Prima facie, since the REP requires a number of assumptions that might not appear to be satisfied in developing countries, it seems that the REP should not hold. However,...

This paper estimates the sacrifice ratios based on the Phillips curve. Using annual data, we estimate individual and common sacrifice ratios for EMU countries. In addition, we test whether the sacrifice ratio is stable for the whole period, which includes years of both high and low inflation...

We analyse the long-run and short-run relationship between merchandise export volume and its determinants, foreign income, relative prices and exchange rate volatility, using the techniques of cointegration and error correction. The model was estimated for Irish exports and sectoral exports SITC...

A country can restrict her imports by imposing tariffs and stimulating her exports by providing subsidies. The same goal could be achieved through devaluation. One policy question that we face is the time it takes for either policy to affect the trade flows. We investigate here the relative...

Linda Clarke, Peter de Gijsel & Jorn Janssen (eds) (2000) The Dynamics of Wage Relations in the New Europe (Dordrecht, Kluwer Academic)ISBN 0-7923-7742-7 £83 368 pp.

This paper examines the role played by real oil price shocks in influencing the growth in UK GDP. Our particular interest is the possibility that asymmetries might exist in such a relationship. Using Hamilton's regime-switching estimation, we consider whether oil price shocks influence both the...