This paper develops a labor-based model where a worker chooses between not only work and leisure, as the traditional labor models have argued, but rather between labor, leisure and the purchase of insurance. The model allows the insurance buyer to determine the amount of insurance he is willing...

The latest election for the European Parliament in May 2014 resulted in substantial gains for EU-skeptical parties across the EU. We argue on economic grounds that more flexible integration within the EU could increase the support for the integration process across the heterogeneous group of...

The price determinants of gold are explained in this paper. Benefits from holding gold as an investment class asset in several forms, including ETFs are explored. Disadvantages of holding various gold investments are described, particularly in Contango markets. The gold prices are examined in...

In this paper a macro- economic model in the area of monetary policy game theory is extended to one-sided dismissal rules concerning observed nominal output and inflation targets for the central banker. These rules specify firing the central banker if some observed policy targets have been...

A simple leverage ratio restriction is not efficient because it does not discriminate between risky and safe banks.We use a structural and comprehensive model of the firm’s asset growth to describe the equity buyout portfolios’ stylized facts for two types of banks.We derive a leverage ratio...

This paper examines the role of institutions (including civil law origin), financial deepening and degree of regime authority on growth rates in the Middle East and North Africa (MENA) region using panel data through a fixed effect model. The results reveal that English civil law origin and the...