This article assesses the ability of the Rotterdam Model (RM) and of three versions of the Almost Ideal Demand System (AIDS) to recover the time-varying elasticities of a true demand system and to satisfy theoretical regularity. Using Monte Carlo simulations, we find that the RM performs better...

This study aims at testing the relationship between alcohol and corruption. Using cross-sectional data, we find the nexus to be positive. It follows that the depth of drinking alcohol has a significant positive correlation with the level of corruption.

JEL Classification: C43, C82, E41, E51, F31

We measure the economic capital stock of money implied by the Divisia monetary aggregate service flow, in a manner consistent with asset pricing theory. Based on Barnett’s [4] definition of the economic stock of money, we estimate the expected discounted flow of expenditure on the...