The study aims to analyze US economy for the years 1990-2009 with emphasis on price adjustment dynamics and provide evidence on the business cycle mechanism. According to New Keynesian thinking major structural trait of the economy is non-clearing markets under imperfect competition with...

The National Bank of Hungary (NBH) launched a project in 2008 that aimed to assembly a large scale econometric model incorporating all the relevant macroeconomic variables and encompassing large variety of transmission channels of Hungarian economy. The ultimate objective of this project was to...

This paper empirically investigates the extent to which investments in human capital and information technology may have contributed to the growth dynamics of the European Union member states over the last decades. In order to measure the contribution of human capital and economic growth to...

For the health of whole economy it is important for the labour market to follow progressive trend – either by increase of work productivity or employment. Work productivity is an instrument that should be managed by employers directly. However employment is an indicator very important in...

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This study develops a macroeconometric model for the Mauritian economy to explain long-run determinants of the country’s economic performance. The Engle-Granger (1987) two-step cointegration methodology is adopted to capture both short-run and long-run dynamic properties of the macroeconomy....

In this study, we use simulations from the Social Policy and Development Centre’s large-scale empirical model of Pakistan’s economy to quantify the economic losses resulting from the devastating earthquake that hit the country on October 8, 2005. We then use the model to trace the path that...

Provides analysis for a practical action planto implement pro-poor policies through macroeconomic initiatives. The study covers sequencing and implementation issues and provides estimates of both macro and significant microeconomic impacts. The major components of the study are (a) a general...