This article first explores the cyclical dynamics ofremittances, and then, analyzes the macroeconomicimpact of remittances and the monetary policy implications.In this endeavor, we use the case of thePhilippines, one of the countries where remittancesare substantial. A dynamic structural...

Purpose – The purpose of this paper is to investigate the phenomena of convergence and stability of leverage reported by Lemmon et al. (2008). Design/methodology/approach – A dynamic trade-off model of the firm was used to simulate investment, leverage, and payout decisions for different...

In this paper we study the economic determinants of the joint retirement process of married couples. We propose a tractable dynamic discrete choice model for retirement decisions which allows for non-trivial saving behaviour. We estimate the model on a 1\% sample of Danish couples of potential...

The strategy Philip Morris adopted in 1993 featured a one-time, permanent, publicly announced price cut, an event referred to as Marlboro Friday. Little is known about the impact of permanent and publicly announced price cuts on consumer brand switching behaviors for an addictive product. In the...