In 1993, Czechoslovakia experienced a two-fold break-up: On January 1st, the country disintegrated as a political union, while preserving an economic and monetary union. Then, the Czech-Slovak monetary union collapsed on February 8th. We analyze the economic background of the two break-ups, and...

This paper empirically addresses the question of the prospects of integration among African states in light of Mundell’s theory of optimum currency areas. The symmetry and asymmetry of shocks affecting African countries is measured by a structural vector autoregression decomposition method...

This article proposes a model of a simple economy based on a set of agent-based modeling principles. The model is based on the “trust game” formulated by Berg et al. (Games Econ Behav 10:122–142, <CitationRef CitationID="CR2">1995</CitationRef>), and anticipates a random matching of partners taking in to account adaptive agent...</citationref>

This paper examines the importance of the national border in relative price variability in two neighboring, small open economies. Using monthly frequency price data of narrowly defined, homogenous consumer products, it finds that the time-series variation in within-country relative prices is...

In this article, I derive expressions for the Morishima elasticities of substitution (MES) for the variable profit function and estimate these elasticities to shed some light on the substitutability between imports, capital services, and labor services. The results reveal that capital services...

We analyze the disinflationary experience between 1979-1993 for two traditionally inflationary countries of the European Monetary System: France and Italy. For each country, a vector autoregressive model is estimated. Shocks in the model combine domestic and foreign sources. The latter capture...

In light of the long-standing vision of economic and monetary integration in the ASEAN (Association of Southeast Asian Nations) region and the importance of coordinating monetary policies to achieve it, the objective of this article is to assess the monetary policy synchronization among the...

The prospect of biofuels as a transport alternative fuel in Australia is reviewed and discussed in this paper. The Australian transport sector is the second largest energy consuming sector which consumes about 24% of total energy consumption. A part of this energy demand can be met by...