This study aims to examine the economic and sociopoliticalfactors determining the growth-pattern of publicspending in Iraq. During 1921-50 the capacity of the Government to spendwas constrained largely by its ability to collect taxation,particularly indirect taxes. The Government was unable...

Nonlinear models of deviations from PPP have recently provided an important, theoretically well motivated, contribution to the PPP puzzle. In recent work the equilibrium level has been modelled either as constant or as time varying with very similar statistical fits and very different economic...

Derivamos las condiciones para la elección óptima de cartera bajo una utilidad con aversión al riesgo relativo constante y distribuciones de probabilidad alternativas que son capaces de capturar las caraterísticas de asimetría y curtosis de los rendimientos de los activos financieros....