Recently, Soukiazis E., Cerqueira P., and Antunes M. (2013) developed a model – hereafter the SCA model - that takes into account the hypotheses that internal and external imbalances can affect economic growth and additionally relative prices are assumed to be not neutral in the pace of...

Some countries of the Euro-zone have experienced a declining economic growth more pronounced in the last recent years, like Italy. The aim of this paper is to investigate the causes of the poor growth performance in Italy and the responsibility of the Euro for this crisis. The theoretical...

Thirlwall’s Law considers that growth can be constrained by the balance-of-payments when the current account is in permanent deficit. The Law focuses on external imbalances as impediments to growth and does not consider the case where internal imbalances (budget deficits or public debt) can...

Thirlwall’s Law (Thirlwall 1979) considers that growth can be constrained by the balance-of-payments when the current account is in permanent deficit. The Law focuses on external imbalances as impediments to growth and does not consider the case where internal imbalances (budget deficits or...

Electricity as well as gas or refined petroleum products exemplify a significant part of the consumer basket of European households and companies. As energy products are important inputs of nearly all final goods and services, any change of energy prices has a direct impact of the general price...

In this study we analyse the link between stock returns and results in national league matches for 13 clubs of six different European countries. We assume that the stock prices should only respond to the unexpected component of match results, and we use betting odds to separate the expected...

This paper aims to assess the influence of wind power generation on the market splitting behaviour of the Iberian electricity spot markets. We use logit models to express the probability response for market splitting of day-ahead spot electricity prices together with explanatory variables like,...

This paper evaluates the impact of volatility shifts on different time varying period-by-period indexes which are used in the literature to study cross-country synchronization. Using GDP data for 22 OECD countries from 1970 to 2013 we show that when we take into account the volatility shifts the...

This paper studies the determinants of software piracy losses along four major macroeconomic dimensions: Labor force, Technological, Educational and Access to Information using a large dataset available from 1994 to 2010, comprising 109 countries. The results show that, regarding the labor...

As devices that used software became available to the masses the problem of software piracy arose. Recent theoretical works modeled the software piracy phenomenon; others tried to empirically explain the determinants that can explain this phenomenon. Empirical literature in the latter case is...