This paper develops and optimization procedure for estimating the capital stock using time series data on GDP, labor, and gross fixed capital formation. By minimizing the gap between observed and attainable GDP, subject to the constraint that capital grows according to the perpetual inventory...

Purpose – The purpose of this paper is to estimate a complete demand system for the United Arab Emirates (UAE) and use the estimates to evaluate the welfare impact of price inflation. Eight expenditure groups are considered: food, clothing, housing, furniture, transportation, medical care,...

Adherence to the strict interpretation of the principle of comparative advantage would lead one to believe that Dubai, of all places, would not be competitive in merchandise exports. Yet, merchandise exports are Dubai's mainstay and most of them are re-exports. Whereas traditional exports can be...

With falling tariff and non-tariff barriers, lowering other trade costs related to the logistics of moving goods through ports is key to further facilitation of world trade. Such costs are now part of the language of several GATT articles of importance to WTO negotiations. This paper estimates...

In this article we estimate the effect of concentration on intermediation margins in Gulf Cooperation Council's (GCC) Islamic and conventional banking under the assumption that margins are uncertain. The empirical model, which we formally derive from an expected utility maximization problem,...

The purpose of this paper is to estimate productivity gaps between firms with different shares of foreign equity in the presence of government restrictions on foreign ownership. Dubai, having such restrictions, and having multiple ownership structures within co-existing onshore and off-shore...

Adherence to the strict interpretation of the principle of comparative advantage would lead one to believe that Dubai, of all places, would not be competitive in merchandise exports. Yet, merchandise exports are Dubai's mainstay and most of them are re-exports. Whereas traditional exports can be...

We estimate the welfare effect of UAE food price cap policy by nationality and income quintile using the country's 2007-2008 household survey. For methodology, we estimate the compensating variation (CV) to price changes with and without the policy. Comparison of CV with and without the policy...