This paper examines the effects of expenditure-based fiscal consolidation when credibility as to whether the cuts will be long-lasting is imperfect. We contrast the impact limited credibility has when the consolidating country has the means to tailor monetary policy to its own needs, with the...

This paper examines the effects of expenditure-based fiscal consolidation when credibility as to whether the cuts will be long-lasting is imperfect. We contrast the impact limited credibility has when the consolidating country has the means to tailor monetary policy to its own needs, with the...

We analyze four interrelated aspects of economic convergence and their linkages over the period 1999-2013, drawing on the experiences of 26 member states of the European Union, with special focus on the ten Central and East-European new members (the EU10). These aspects are (1) real economic,...

The adoption of paper in the early days of the Islamic rule changed literacy practices in the Middle East and eventually around the world, yet the circumstances of its adoption and its impact on the Middle Eastern economy are not well known or understood. This study determines that paper use was...

We analyze four interrelated aspects of economic convergence and their linkages over the period 1999-2013, drawing on the experiences of 26 member states of the European Union, with special focus on the ten Central and East-European new members (the EU10). These aspects are (1) real economic,...

According to the endowment effect there is some discomfort associated with giving up a good, that is to say, we are willing to give up something only if the price is greater than the price we are willing to pay for it. This implies that the indifference curves should designate a reference point...

In the U.K. public housing policy has sought to achieve (at least one of) three distinguished goals: to provide shelter and accommodation for all families, to encourage home ownership and to encourage construction as a tool of counter-cyclical macroeconomic policy. Over the last decade,...

According to the endowment effect there is some discomfort associated with giving up a good, that is to say, we are willing to give up something only if the price is greater than the price we are willing to pay for it. This implies that the indifference curves should designate a reference point...

According to the endowment effect there is some discomfort associated with giving up a good, that is to say, we are willing to give up something only if the price is greater than the price we are willing to pay for it. This implies that the indifference curves should designate a reference point...

This paper analyzes the implications of bilateral bargaining over wages and employment between a producer and a union representing a finite number of identical workers in a monetary macroeconomic model of the AS