This study estimates the exports demand for Pakistan by employing Autoregressive Distributed Lag model and using quarterly data for the period 1982Q1-2008Q2. The paper seeks to examine the long run as well as short run impact of real effective exchange rate volatility along with foreign real...

This paper analyzes a household’s leisure expenditure by exploring data on Korean urban households and provides policy implications. Among the major findings from quantitative analyses are the significant correlations between leisure consumption and disposable income, and between leisure...

Previous studies on the role of FTAs in promoting members’ international trade have usually focused on FTA premium, ignoring the difference between selection effects – trade developments before the formation of FTAs – and “learning†effects – trade growth...

There have been numerous studies that examined the earnings determination of Major League Baseball (MLB) and National Football League (NFL) professional athletes, but relatively little attention has been paid to the earnings determination of professional golfers. The important difference between...

This paper analyzes monetary policy conditions in Spain before and after the changeover to the Euro as the single European currency. We use forward-looking Taylor-type rules to describe the Banco de España's pre-Euro monetary policy and find that it was clearly inflation stabilizing. Compared...

This paper uses annual US data to examine the causal relationship between immigration and real GDP. Despite its implications for policy, a statistically robust relationship between these two series has been difficult to pin down. Our tests reveal that both the series are break-stationary....

Motivated by agency theory, this study attempts to ascertain whether chief executive compensation is influenced by legal rules. In particular, we analyze whether Delaware law has an impact on CEO pay. Legal rules have been argued to impact agency conflicts. Agency costs, in turn, affect CEO...