Purpose: The purpose of the paper is twofold: to construct and analyze a novel endogenous growth model, in which unbounded growth is possible without the need to assume increasing returns to scale, and to use the model to estimate the long-run (or dynamic) costs of recessions....

Human Resource Management (HRM) effects on firm performance can be examined at the systems architecture (i.e., guiding principles or philosophy), the policy, or practices levels. This paper suggests that, at least for small and medium‐sized enterprises (SMEs) in developing countries, it is the...

We study the effects of a conventional monetary expansion, quantitative easing, and operation twist on corporate bond yields and spreads. These policies are simulated as shocks to the Treasury yield curve, and the impulse response functions of corporate yields and spreads to shocks are computed...

We report systematic, out-of-sample evidence on the benefits to an already well diversified investor that may derive from further diversification into various hedge fund strategies. We investigate dynamic strategic asset allocation decisions that take into account investors' preferences as well...

The purpose of the paper is two-fold: (i) to construct and analyze a novel endogenous growth model, in which unbounded growth is possible without the need to assume increasing returns to scale, and (ii) to use the model to estimate the long-run (or dynamic) costs of recessions. In our model,...

This paper justifies the relevance of capital controls on the basis of markets' incompleteness, examines the pros and cons of restrictions on capital mobility, surveys the literature's recent attempts to assess the effectiveness of capital controls, and delineates the focal points of debate...