Globalization has attained a prominent place on the sociological agenda, and stratification scholars have implicated globalization in the increased income inequality observed in many advanced capitalist countries. But sociologists have given much less attention to a different but increasingly...

In this paper, we investigate the impact of the adjustment for seasonal effects with different seasonal adjustment methods, the possible pre-treatment for calendar effects and the different order of aggregation and adjustment for the determination of the turning points of the European business...

[...] in many situations a decision does not have to be made immediately, but can be delayed until additional information has been acquired. Sequential analysis seems particularly applicable to the problem of predicting turning points in the business cycle (Palash and Radecki, 1985). Elaborating...

We add the Bernanke-Gertler-Gilchrist model to a world model consisting of the US, the Eurozone and the Rest of the World in order to explore the causes of the banking crisis. We test the model against linear-detrended data and reestimate it by indirect inference; the resulting model passes the...

The purpose of this paper is twofold. On the one hand it aims at extending King-Fullerton methodology to a larger scope of liabilities and primarily, in the empirical section of the paper, to statutory charges associated to labour costs, basically employers' contributions to social security....

Over the last decade, European Union members have experienced a dramatic increase in imports. This increase was accompanied by a strong growth in the number of imported goods and trading partners, indicating positive welfare gains for consumers via an extended set of consumption possibilities,...

In this paper we describe a theoretical model of optimal investment of various types of financially constrained firms. We show that the resulting relationship between internal funds and investment is non-monotonic. In particular, the magnitude of the cash flow sensitivity of the investment is...

The complementarities of trade advantage and trade competitiveness measures for Hungarian agro-food trade with the European Union are analyzed. The stability and duration of the trade measures over time is investigated by the survival analysis using the nonparametric Kaplan-Meier product limit...

We propose a general framework to assess merger policy effectiveness based on standard oligopoly theory and stock market reactions. We focus on four different dimensions of effectiveness: 1) legal certainty, 2) decision errors, 3) reversion of anti-competitive rents, and 4) deterrence. We apply...