The objective of this article was to measure the productivity of CDFAs of the NAN-TOU County in Taiwan over the period of 1995-2004. This study calculated the Malmquist productivity index by using the nonparametric frontier approach, and decomposed the index into two components: technical change...

This article analyzes the dynamics of electoral promises towards the population and interest groups, focusing on the reaction of voters to the proximity of a candidate to interests groups. In a two-period electoral competition model, we show that a (re)election seeking politician must consider...

According to Bordo and James (2008), history shows that multinational monetary unions have dissolved mainly under the consequences of external shocks. This paper focuses on the effects of external shocks in assessing the sustainability of a monetary union and provides a theoretical argument that...