Numerous econometric studies fail to detect a significant and robust relationship between international aid and economic growth in the recipient countries. Dutch Disease effects might be responsible for this result. This paper examines the relation between aid and its effectiveness in a...

Experience after the establishment of EMU shows that the behaviour of private consumers differs considerably among member countries and that average and marginal propensities to consume are fairly heterogeneous. In particular, there are clear differences between Germany and the rest of the euro...

type="main" <p>Given the scarce resources for public investment in developing countries, policy analysis should include a detailed perspective on the effects of infrastructure. This article develops a modelling framework for analysing the effects of improved road infrastructure on the economy of...</p>

Summary The paper analyzes the dynamic effects of anticipated symmetric demand and supply side policies within the framework of a macroeconomic model of a small monetary union, which is characterized by asymmetric wage adjustment equations of Phillips’ curve type. It is shown that an...