Recently, Pissarides (2008) has argued that the standard search model with sunk fixed matching costs increases unemployment volatility without introducing an unrealistic wage response in new matches. We revise the role of matching costs and show that when these costs are not sunk and, therefore,...

We develop an input-output methodology to estimate how Chinese exports affect the country’s total domestic value added (DVA) and employment for 1995 and 2002. Total DVA generated by exports is obtained by subtracting all direct and indirect imported intermediate goods from the gross value of...

This paper focuses on the economic foreign policies explored by major organizations and countries at G20 Financial Summit held in London on April 2, 2009. This is the 2nd summit after the first meeting in November 2008. The presence of G20 over G8 has strengthened increasingly as a major...

This paper investigates banking system instability vis-à-vis the day-to-day interbank market and monetary policy effectiveness in the Dominican Republic. The analysis reveals a negative relationship among excess banking system reserves and the interbank interest rate, and shows that in crisis...

Following suggestions from theoretical and empirical literature on agglomeration and on social returns to education which emphasise the contribution of local knowledge spillovers to productivity and wage growth, this paper aims at uncovering the relationship between local human capital and...

This paper is a prepublication version of a submission to the International Review of Economics Education. It outlines a code of conduct for economics, in the form of a pluralist benchmark for Quality Assurance in economics education. This is a necessary corrective to the publicly-recognised...

The eventological theory of decision-making, the theory of event-based decision-making is a theory of decision-making based on eventological principles and using results of mathematical eventology [1]; a theoretical basis of the practical eventology [2, 3, 4]. The beginnings of this theory which...

Differences between domestic financial systems can lead to international trade. A country with relatively developed or decentralized financial systems will export innovative commodities while a country with less developed and centralized financial systems will export traditional commodities....

This paper makes use of an integrated benchmark modeling framework that allows us to derive term structure equations for bond and forward prices. The benchmark or numeraire is chosen to be the growth optimal portfolio (GOP). For deterministic short rate the solution of the bond term structure...

Today, in the new economy, while the possibilities for software are seemingly limitless, so is the growing demand. The problem is that speed and quality have typically been opposing forces in software development, and they still are. In the past, businesses could sacrifice software quality to...