One strand of the empirical growth literature has cast doubt on the ability of the policy recommendations from Washington Consensus in enhancing growth. They argue that not only the design but also the policy mix has an important country-specific component (e.g.Hausmann, Rodrik, & Velasco, 2005;...

Spanish long-run fiscal sustainability is analysed by using the multicointegration methodology. It permits the estimation of dynamic equilibrium relationships between flow and stock variables, and is here adjusted to fit the recurrent use of monetization. The results reveal that seigniorage was...

This research develops and implements a simple model for the determination of optimal national expenditures on drug law enforcement. The key components of the model are an econometrically estimated linear drug violations equation relating drug violations to drug enforcement expenditures and...

To analyze prospects for Ukraine's economic growth and a program of reforms, we construct two macroeconometric models—high frequency with monthly observations, and low frequency with annual observations. In search of consistent information, we critically examine available statistics including...

This paper estimates the equilibrium real exchange rate of the Turkish lira to evaluate whether or not the overvaluation results in currency crisis and low growth rate over the period from the first quarter of 1987 to the fourth quarter of 2010. We follow the behavioral equilibrium exchange rate...

This study looks at and finds interactions—between lending, deposit, and interbank rates—and asymmetries in interactions, in the pass-through to retail bank interest rates in Portugal. We uncover heterogeneous adjustments of bank rates as between sectors, between loans and deposits, and...

Recently, Asian and Latin American countries have engaged in a series of negotiations to liberalize trade and investment flows. This paper analyzes the potential impact of a free trade agreement (FTA) between countries of both regions, applying a world dynamic general equilibrium model (MIRAGE)....

This paper proposes a modeling approach to evaluate the impact of economic policies on the decision maker's behavior. This modeling approach incorporates the agent's preferences, estimated through utility elicitation methods, into the objective function of a discrete sequential stochastic...

This paper quantitatively evaluates nation stability, defined as the state of a country's social and economic system as measured by multiple evaluation indicators, and observes its transitions. Data Envelopment Analysis/Malmquist Index (DEA/MI) methodology is applied to the panel data for 97...

We examine the effect of software piracy on medium term growth using cross-country data over 2000–2007. While the empirical literature has focused on identifying the causes of software piracy, our contribution is to examine its effects. Our findings suggest that software piracy reduces...