This paper explores the relationship between budget and trade deficits in a small open economy using annual data. The purpose of the paper is to test empirically the validity and rationale of the Keynesian proposition (conventional view) and the Ricardian equivalence hypothesis. The econometric...

A considerable number of empirical studies exploring the links between budget deficits and the demand for money have led to mixed results. By using annual data of the Greek economy and previous empirical studies, this paper empirically evaluates the sensitivity and validity of the Keynesian...

This study investigates the long run relationship between government size and unemployment rate, the Abrams curve, using ten European countries over the period 1961-1999. To this end, panel cointegration analysis and estimation techniques appropriate for heterogeneous panels are made use of. The...

The purpose of this paper is to investigate the demand and its composition between home-produced and imported for alcoholic beverages in Cyprus. The methodological approach used is the Almost Ideal Demand System (AIDS), both in static and dynamic terms. Empirically, the AIDS, both in its static...

The purpose of this paper is threefold: first, to empirically investigate the coststructure of the railway systems in ten European Countries (Belgium, Denmark, France, Germany, Greece, Italy, Luxembourg, the Netherlands, Portugal and the United Kingdom) of the European Union, second to provide...