"What can business do to cope more successfully with terrorism?" The policy against terrorism available to business is a neglected issue in the scholarly literature especially in so far as individual firms rather than the business sector as a whole are concerned. Two sets of proposals are...

The successive enlargements of the European Union have implied an important increase of the market where European firms can supply their products. In this paper we analyze the influence of this process on the economic growth of EU members by including the market potential as a scale indicator in...

This paper assesses how the current housing and credit crisis will impact US real activity, and how recession interacts with adjustment of global imbalances. A simple real-side model with decreasing returns to factors and non-clearing goods and labor markets is disaggregated into traded and...

Policymakers are under constant pressure to alleviate financial stress, mainly associated with farm business income, on farm households through government farm program payments. The 1996 FAIR Act signaled the end of these payments and Congress decided that agricultural policy should be more...

A multi-sector multi-country Numerical General Equilibrium model is used to endogenously determine the trade taxes that FTA members need to charge on non-member trade so that after the FTA is formed, FTA-member trade volumes with non-members remain at their pre-FTA level. We apply the notion of...

Free trade has been a universally accepted economic tenet for almost two centuries. Despite challenges, Ricardo's theory of comparative advantage has proven to be one of the most enduring of all economic laws. In recent decades, however, the liberal trading system has come under increasing...

This paper opts for the stochastic frontier methodology to investigate the impact of structural reforms on profit efficiency in the banking industry of four new European Union Member States over the period 1999-2003. Our findings suggest that reforms in the banking market are of vital importance...