A major active labour market policy - the New Deal for Young People (NDYP) - was introduced throughout the UK in 1998. We examine its effects on unemployment duration by estimating hazard functions for unemployment outflows before and after its introduction. We add value to existing evaluations...

This paper investigates the effect of exchange rate volatility on US-UK bilateral trade flows. As part of econometric problems arising from a generated variable, we consider a special case when an ARCH type auxiliary model is used to measure uncertainty in the exchange rate and discuss a...

One of the advantages to analyze the economic links between two countries on the basis of stock market data, rather than aggregate economic data published by national statistical offices, is that stock market data are readily available, allowing analysis in almost real time. We consider a...

Modeling the evolution of formal institutions in relation to the evolution of economic and informal institutionaldevelopment. Discrete time optimization; simulation. The punctuations and the evolution formal institutional quality depends on the extent of economic heterogenety.

Modelin the local and central government behaviours to assess the welfare/efficiency/equity impacts of fiscal decentralization. Static optimization; simulation The relative welfare and efficiency effects of fiscal decision mechanisms (defined as social planners optimum choice of fiscal...

There is no consensus on the effects of small businesses development on poverty reduction. While some showed positive evidence, others have shown weak relationship.Those that showed negative or weak relationship did not indicate the factors responsible for this.Most of the existing studies have...

The research and bank model developed in this paper for the case of Indonesia is motivated by the following: 1. A recent change in banking regulations in Indonesia, like the statutory reserve requirement and full implementation of Basel II in 2011, coupled with a lack of literature to document...