In earlier cross-sectional gravity-theory reports (see for example Frankel and Romer, 1999), empirical modelling evidence lends support to the hypothesis of ‘trade causes growth’. In our time-series study on trade-growth causation for a new Asian regionalism (namely ASEAN+3), the hypothesis...

This paper employs the one-sector Real Business Cycle model as a testing ground for four different procedures to estimate Dynamic Stochastic General Equilibrium (DSGE) models. The procedures are: 1) Maximum Likelihood, with and without measurement errors and incorporating Bayesian priors, 2)...

This paper employs the one-sector Real Business Cycle model as a testing ground for four different procedures to estimate Dynamic Stochastic General Equilibrium (DSGE) models. The procedures are: 1 ) Maximum Likelihood, with and without measurement errors and incorporating Bayesian priors, 2)...

This paper employs the one-sector Real Business Cycle model as a testing ground for four different procedures to estimate Dynamic Stochastic General Equilibrium (DSGE) models. The procedures are: 1) Maximum Likelihood (with and without measurement errors and incorporating priors), 2) Generalized...

This paper presents estimations of the shadow economies for 162 countries, including developing Eastern European, Central Asian, and high-income countries over the period 1999 to 2006/2007. According to the estimations, the average size of the shadow economy (as a percentage of "official" gross...