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...

Commodity futures and equity markets differ in several important respects. Nevertheless, it was found that momentum profits in commodities are highly significant for holding periods as long as 9 months, and returns to momentum strategies are roughly equal in magnitude to those that have been...

This study examines the feasibility of economic integration in Latin America. We analyze the existence of the long-term and short-term common movements among key macro variables—real GDP, intra-regional trade, private investment and consumption—in the seven largest economies in Latin...