This paper investigates how informality can be defined and measured in the Turkish labor market. Two alternative definitions of informality are used to explore their relevance and implications for the Turkish labor market using descriptive statistics. They are the enterprise definition and the...

Economic and political literature widely studied the effects of electoral system on corruption. But very little attention has been dedicated to the role of political competition in explaining this relationship. We hypothesize that the proportionality degree of the electoral system impacts...

The growth recorded by the banking industry in Pakistan prompted assess this advancement, the paper is an endeavor to measure and investigate the performance of Islamic banks in Pakistan over the period 2001 - 2014. In this profound dissection we assessed the interbank performance of Islamic...

Assuming a production process with returns to scale that vary with the intensity it is operated at, an AK-model of endogenous growth with constant returns to scale in production is shown to arise due to replication driven by profit-maximization. If replication occurs at the efficiency-maximizing...

In this paper, we examine the structure and the evolution of international exchanges of auto parts over the 2000-2012 period for four European countries. The first part of our study reviews the literature and points out four stylized facts about the geography of automotive supply networks. In...

We analyse the role of time-variation in coefficients and other sources of uncertainty in exchange rate forecasting regressions. Our techniques incorporate the notion that the relevant set of predictors and their corresponding weights, change over time. We find that predictive models which allow...

This paper reviews the industrial agglomeration and evaluates the industrial clustering policy in Vietnam. Base on the Kuchiki flowchart on the building of industrial clustering policy for developing countries, the authors suggest a policy framework for Vietnam.

This note explores the mathematical theory to solve modern gambler’s ruin problems. We establish a ruin framework and solve for the probability of bankruptcy. We also show how this relates to the expected time to bankruptcy and review the risk neutral probabilities associated an adjustment to...

We confront microeconomic theory with macroeconomic data. Unemployment results from two main micro-level decisions of workers and firms. Most of the efficiency wage and bargaining theories predict that over the business cycle, unemployment falls below its natural rate when the worker’s real...

Standard economics starts with behavioral assumptions that are formally expressed as axioms. This approach met with little scientific success but still enjoys some popularity for lack of a convincing alternative. To replace the subjective formal foundations by objective structural axioms is the...