The BRIC countries (Brazil, the Russian Federation, India and China) plus Turkey contribute a significant proportion of the exports that originate from developing countries. The varieties imported from the BRIC countries plus Turkey in the textile, creative and leather industries are likely to...

Inextricable links between international trade, growth and role of knowledge-creation are well-established in the economics literature. The issues of creation of technology, its diffusion and actual adoption have been discussed on both theoretical and empirical planes. Effective assimilation of...

In this paper, we analyze the relationships among oil prices, clean energy stock prices, and technology stock prices, endogenously controlling for structural changes in the market. To this end, we apply Markov-switching vector autoregressive models to the economic system consisting of oil...

The aim of this paper is to analyse the role of active labour market policies in Spain, focusing on the public employment service (PES), training, and employment incentives. Previously, the main features of unemployment subsidies and their connection to active policies is presented. The majority...

Assume that S_{t} is a stock price process and Bt is a bond price process with a constant continuously compounded risk-free interest rate, where both are defined on an appropriate probability space P. Let y_{t} = log(S_{t}/S_{t-1}). y_{t} can be generally decomposed into a conditional mean plus...

We show that the h-index and the g-index, which are commonly used to mea- sure the research productivity of a scientist, may be seen as concentration indices. For these indices we also propose transformations that make them always ranging between two known limits, which correspond to the...

This paper considers the robustness of equilibria to a small amount of incomplete information, where players are allowed to have heterogenous priors. An equilibrium of a complete information game is robust to incomplete information under non-common priors if for every incomplete information game...

If A is better than B and B is better than C, then A is better than C, right? Larry Temkin and Stuart Rachels say: No! Betterness is nontransitive, they claim. In this paper, I discuss the central type of argument advanced by Temkin and Rachels for this radical idea, and argue that, given this...

This paper addresses the issue of foreign exchange and capital controls in the context of the Southern African Development Community’s goal of regional integration. It reviews the theory and evidence surrounding current and capital account liberalisation and argues that there is a lack of...

Work incentives are closely related to production performance. This paper presents evidence that the value added of a firm increases when relative labor costs rise, or the level of unemployment increases. Both circumstances imply evidence in favor of the efficiency wage model. This theory is...