This paper empirically analyses real per capita GDP growth for six Latin American countries (Argentina, Brazil, Chile, Columbia, Mexico, Venezuela) in terms of real exchange rate depreciations, inflation and US interest rates, focussing on the role of the real exchange rate. We find evidence of...

In this paper we estimate, for the 1989-93 period in Belgium, the effect of vocational classroom training on the rate of transition from unemployment. We propose a "control function" estimator accounting for variable treatment effects. In the absence of interaction effects between explanatory...

A political economy approach to the transition process required the incorporation not only of the economic structure but also of the political and ideological structures. Consequently, an application of a political economy methodology to the transition process gives rise to alternative models of...

One of the major topics of the defense economics literature regarding Turkey and Greece has been the empirical modeling of various aspects of arms racing. However, despite a considerable amount of research, little evidence has been found in favor of an arms race between the two countries. In the...

Recent literature has uncovered asymmetries in the response of real output to monetary policy variables. Nevertheless, it remains unclear whether such asymmetries relate to different responses to monetary policy or to the business cycle. This paper uses nonlinear models to examine the issues in...

This paper uses a panel of 7617 individuals drawn from the Swiss Labor Force Survey (SLFS) to study i) low-pay incidence and ii) individual transition probabilities at the lower end of the wage distribution. In a first step, various raw transition probabilities are computed for the period...

In this paper, we propose a flexible smooth transition autoregressive (STAR) model with multiple regimes and multiple transition variables. We show that this formulation can be interpreted as a time varying linear model where the coefficients are the outputs of a single hidden layer feedforward...