This paper provides for an empirical analysis of real exchange rates in Macedonia. The empirical model specifies the equilibrium real exchange rate as a function of the fundamental factors. Then, using the coefficients of the empirical model, the deviation of the actual real exchange rate from...

This paper describes achievements from the human dimensions research within New Zealand's 'Reducing Greenhouse Gas Emissions from the Terrestrial Biosphere' programme, in three parts: (i) regional responses to climate change policy development, (ii) indigenous groups, land use and climate...

Based on monthly observations, I specify an econometric model capturing the driving forces behind the crude oil price series in recent years. A large set of covariates, such as supply and demand variables as well as futures market variables, is used to test the impact on the crude oil price....

This paper represents shortly the contribution of the Professor Lucas in modern macroeconomics, notably famous criticism of the Keynesian models. Contribution which was worth him the Nobel prize of economy 1995.

To date, the validity of the empirical tests that employ the mean‐variance approach for testing the risk‐return relationship in the research stream named Bowman’s paradox is inherently unverifiable, and the results cannot be generalized. However, this problem can be solved by developing an...

Interactions between trade and the environment have been studied extensively as a reaction to the pressure that the accelerated pace of globalisation has placed on environment and trade. Distinguishing itself from previous work, this study focuses on a modelling analysis of the interactions...

Interactions between trade and the environment have been studied extensively as a reaction to the pressure that the accelerated pace of globalisation has placed on environment and trade. Distinguishing itself from previous work, this study focuses on a modelling analysis of the interactions...

This paper presents an econometric investigation of office returns determination in the Helsinki area, a small European market, over the thirty-year period 1971-2001. Particularly, the study investigates the variation in office capital growth, which is the most volatile component of office total...