This study seeks to uncover the factors determining the dynamic behavior of key macroeconomic variables in two emerging market economies, Turkey and Mexico, from the late 1980's to the present. For this purpose, we analyze the behavior of real interest rates, real stock returns, inflation,...

In this paper we undertake a comprehensive analysis of wage formation in the Egyptian construction sector, which emplyed about 10 % of the non-agricultural labor force in 1995. A sizeable majority of the workforce in this sector is frequently without work. At the same time data on labor market...

This paper studies the quantitative impact of eliminating capital income taxation on capital accumulation and steady-state welfare in a general equilibrium model with overlapping generations of 65-period-lived individuals who face idiosyncratic earnings risk, borrowing constraints and life span...

A production line with random processing times and no interstation buffers is considered. The jobs are scheduled cyclically , i.e., a batch of n jobs is repititively using the same order of jobs in every batch. Processing time of a job on a station is assumed to have a phase-type distribution....

This paper investigates the effects of exchange rate uncertainty on the volume and variability of trade flows. Employing a signal extraction framework, we show that the direction and magnitude of importers' and exporters' optimal trading activities depend upon the source of the uncertainty...

When multiple durations are generated by a single unit, they may be related in a way that is not fully captured by the regressors. The omitted unit-specific variables might vary over the durations. They might also be correlated with the variables in the regression compenent. We propose an...

In This paper we address the scheduling problem in uppaced synchronous mixed-model production lines operated under a cyclic scheduling policy. Synchronous lines are widely used in the production and assemply of various products such as automobiles and household part.

Given a pre-schedule (or a reservation schedule), we examine the problem of rescheduling operations on a single workcenter due to a disturbance. We propose an approach where a set of operations around the disturbance are un-scheduled and re-inserted one at a time and the goal is to minimize both...

This paper extends the partial (PE) and general equilibrium (GE) analyses of Nash and stackelberg optimum export taxes to multicountry framework, using a computable general equilibrium (CGE) model of the global cocoa market.

We consider Markovian models of discrete materials flow production systems. The transient behavior of a production line is investigated. Namely, mean and variance of the number of parts produced in a given time period conditioned on an arbitrary initial condition is determined by using a Markov...