In this paper we model U.S. labor supply and demand over the next 25 years. Despite the anticipated aging of the population, moderate population growth will provide growing supplies of labor well into the 21st century. Improvements in labor quality due to greater education and experience will...

Based on U.S. data for the 48-year-period 1953-2000, this study makes a contribution on the R&D-growth relation along five dimensions. First, we note several descriptive patterns that may be regarded as stylized facts relative to R&D outlays in the U.S. during the half-century period. These...

This paper proposes a structural VAR model which extends the frameworks of Hoffmaister and Roldós [Hoffmaister, A. W., & Roldós, J. E. (2001). The sources of macroeconomic fluctuations in developing countries: Brazil and Korea. Journal of Macroeconomics, 23, 213-239] and Prasad [Prasad, E.S....

The objective of this paper is to examine the long-run relationship between output, pollutant emissions, and energy consumption in Malaysia during the period 1971-1999. To supplement the findings of cointegrating analysis, we assess the causal relationships between the variables using the recent...

One of the major economic reforms in the Chilean economy was the 1981 pension reform. In that year, Chile transformed its Pay-as-you-go social (PAYG) security system to an individual account social security system (IA). This paper discusses the impacts of the social security reform. To do so, we...

This paper examines the impact of globalization on income inequality for a cross-section of 62 developing countries over a period of 17 years (1985-2001). The results of the study indicate that globalization explains only 15% of the variance in income inequality. More specifically, the results...

The present study tries to examine the behaviour of various Indian interest rates such as call money rate, and yields on secondary market securities with maturity periods of 15-91 days, 1-year, 5-years and 10-years. In the first stage, the study investigates the determinants of interest rates...