We find that from about 1965 to 1983 US employees’ compensation, EC, relative to corporate profit, CP, increases in the long run, and from 1984 to 2013 the compensation decreases relative to profit to about half its 1983 value. The first period includes “US peacetime inflation”,...

This paper examines in a comparative context the determinants of foreign direct investment in Kenya and Malaysia as well as its impact on economic growth in order to inform policy debates. Kenya in the recent past has committed itself to emulating the development experiences of Malaysia in order...

This paper investigates the impact of refugees on a developing host country's bilateral trade with the source country using a Vector Error Correction model and Granger causality tests. Using the largest case of refugee settlements in the world, we look at how refugees moving over several decades...

It is widely believed that, in the wake of the dot.com crash, the Fed kept the federal funds target rate too low for too long, inadvertently contributing to the subprime boom. We attribute this and other Fed departures from a “neutral” policy stance to the Fed's failure to respond...

The paper seeks to investigate the causal links between economic growth and remittances for Tunisia over the period 1970–2010 through two specific transmission channels, namely financial development and investment. The analysis is based on the autoregressive distributed lag (ARDL) approach to...

Global imbalances pose a serious question for academia and policy makers related to its formation, sustainability and correction. In this paper we analyze the required adjustments of exchange rates for rebalancing in current accounts. We set up a two-country two-sector model for the US-China...

The services provided by local authorities such as education, recreation, gardening and public cleaning, and water and sewerage are usually defined as public goods that are intended to improve their residents’ quality of life. This paper helps local policy makers to achieve this goal by...

Germany and the Czech Republic, Hungary, Poland, and Slovakia (the CE4) have been in a process of deepening economic integration which has lead to the development of a dynamic supply chain within Europe—the Germany-Central European Supply Chain (GCESC). Model-based simulations suggest two key...

In this article, we present a new methodology to develop bootstrap estimates of a social accounting matrix (SAM), by combining entropy minimization and Monte Carlo simulation techniques. An application is presented to the Italian economy, demonstrating how a set of policy measures can be...

We analyze extreme movements of the main stocks market indexes in the European Union. We find that the Sweden and UK markets are the preferred ones for risk averse investors since they present the best risk-return performance. Moreover, the UK market is found to have a very low dependence with...