The paper, mostly empirical in nature, investigates issues on cross-national new information and communication technologies (ICTs) adoption patterns and growth directions. In the period of 2000-2010, a great number of countries underwent substantial changes on the field of ICTs implementation....

A standard two-sector sticky price model with flexibly priced durables depicts negative co-movement between durables and non-durables after a monetary policy shock, which is at odds with the empirical evidence. This paper proposes a new channel, non-separable preferences with a small wealth...

This paper argues that since China closes her asset markets, investors turn to Hong Kong instead. The initial public offerings (IPO) of Chinese firms in the Hong Kong stock market and the local housing market of Hong Kong improve the prediction of each other, as they may serve as a coordinator...

This paper measures the welfare cost to consumers of the bloc of Central and Eastern European Countries (CEEC), plus Malta and Cyprus, of choosing a de- preciated conversion rate when joining the European Monetary Union. For this, I present and solve an appropriately calibrated small open...

Many claim that fluctuations in US private savings help to create and to sustain global imbalances because of their influence on the current account deficit. To test this claim, this paper investigates the determinants of aggregate household savings using a panel of 18 developed countries for...

This paper measures the welfare implications of a depreciation of the US dollar against the euro using a dynamic equilibrium model. I calibrate a simple two country stochastic endowment economy with trade in goods and financial assets and exogenous variations in the exchange rate. The model...

This article investigates how wealth and capital gains affected household consumption in the USA in the period 1989-2004. The empirical evidence brought so far by a large literature that investigates the role of wealth shocks on consumption is mixed, due to the low quality of the data more...

This article investigates how wealth affected household consumption in the USA in the period 1989-2007. Previous empirical results are mixed, mostly because of the low quality of the data more readily available. We combine information from the Consumer Expenditure Survey and the Survey of...

How does household wealth influence consumption? The empirical evidence brought so far by the literature is unclear, mostly because of the low quality of the data more readily available: aggregate data, cross sections and panel datasets lacking important variables all present major shortcomings...

Corporate Governance is the relationship between corporate managers, directors and the capital providers, who save and invest their capital to earn money in form of dividend, interest or gain. Shareholders of the company appoint Board of Directors to fulfill their objectives aligned with the...