This paper explores the impact of country size on labor market flexibility in a monetary union with a common monetary policy as conducted in EMU. I apply a Barro-Gordon framework and test its result empirically for EMU. Results confirm that small countries demand higher labor market flexibility...

This paper explores the impact of country size on labor market flexibility in a monetary union with a common monetary policy as conducted in EMU. I apply a Barro-Gordon framework and test its result empirically for EMU. Results confirm that small countries demand higher labor market flexibility...

Monetary policy, when rules-based, usually follows rules regarding inflation or output, but not always quantity, endemic and financial endogenous rules that minimize the gap between optimal and current rates of inflation and output. This paper proposes a rules-based monetary policy focused on...

If the Stock Market crashes, the Federal Reserve System (the Fed) ought to open the Discount Window to Main Street, by making 1. loans only for the creation of real wealth; 2. loans at cost; 3. loans to benefit as large a number of people as possible by issuing loans to individual entrepreneurs,...

In this paper I analyse a labor market where the wage is endogenously determined according to a Right-to-Manage bargaining process between a firm and a labor union whose members are partitioned into two social groups: the old and the young. Furthermore, I exploit the Single Mindedness theory,...

None of the known macroeconomic theories are adequate to understand what to do in a global crisis like the 2020 Global Pandemic. Rational Expectations and monetarism cannot even ex-plain how is that a global crisis like this happens. The IS-LM model was designed to manage business cycles, but...

This article presents a method for nonprofits to calculate a budgetary allocation which is consistent with their strategic goals. The method is based on the application of Analytic Hierarchy Process (AHP) to budgetary allocation. A proposed index, which is based on a comparison between the...

Although cannabis is federally prohibited, a majority of U.S. states have implemented medical cannabis laws (MCLs). As more individuals consider the drug for medical treatment, they potentially substitute away from prescription drugs. Therefore, an MCL signals competitor entry. This paper...

The aim of this paper is to estimate the effects of EU regional policy with respect to economic convergence. In particular, I tried to “measure” the effect of EU regional policy on the per capita Gross Domestic Product by means of a simulation that starts from the GDP growth rate estimated...