In the article, we model R&D as a major endogenous growth element in a small open economy general equilibrium framework and consider several R&D policy scenarios for Slovenia. Increase of the share of sectoral investment in R&D that is deductible from the CIT and increase of government spending...

In May 2007, Kuwait unilaterally abandoned the dollar peg, adopted in 2003 as a first step towards the monetary integration of GCC countries, to return to the previous basket peg system. The decision was motivated by the need to limit the inflationary pressures resulting from prolonged...

Chronic inflation is argued to be politically destabilizing. We examine data on inflation and political instability that goes as far back as 500 years. Although the behavior of both prices and political rebellion have changed over these five centuries, and enduring relationship between price and...

Initially an attribute of the state, carrying a single meaning, namely the lack of military conflict, the notion of “security” has evolved in time from its traditional significance, where the emphasis was on the military dimension, to the conflict arising among countries and threats against...

Many empirical studies have confirmed the positive impact of innovation on productivity at the firm level. The focus tends to be either on R&D driven techno-logical innovation on the one hand, or on organisational changes complemented by ICT on the other. To investigate the effect of different...

Starting from a Post-Keynesian model in which employment is determined by effective de¬mand and the NAIRU is viewed as a limit to employment, enforced by monetary policy re¬acting upon conflict inflation, the effects of central bank independence and labour market institutions on macroeconomic...

This paper reviews the evidence on stabilization plans in high inflation countries within a unified theoretical framework. The evidence suggests that hyperinflations have been stopped almost instantaneously with no major output costs, while stabilization programs in chronic inflation countries...

A special characteristic of the patent system is that it features multiple patent-policy levers that can be employed by policymakers. In this study, we develop a quality-ladder model to analyze the optimal mix of patent instruments. Specifically, we consider (a) patent breadth and (b) the...

If imperfect market institutions prevail in a country and inflation amounts to about 10% then efforts directed to further inflation decrease would probably hamper economic growth. To substantiate this thesis, I make references on opinions of well-known economists, discuss results of recent...

Contrary to most European countries, indexation rules of the French minimum wage are very precise. However, three possible rules are consistent with the texts, which diverge in particular in periods of deflation or of negative growth of real wages. The alternative interpretations can have a...