This paper assesses the sustainability of the CA deficits in the New Member States (NMS) of European Union by estimating its structural component based on fundamentals. Using a large sample of panel data, we estimated long term relationships for the CA deficit and its fundamentals using two...

This paper assesses the level of readiness of Romania to adopt euro, based on nominal and real convergence criteria evaluation. We used the optimal currency area criteria in order to assess the real convergence process in Romania. The main conclusion of the paper is that more progress is...

In this paper we suggest the use of an internet job-search indicator (Google Index, GI) as the best leading indicator to predict the US unemployment rate. We perform a deep out-of-sample comparison of many forecasting models. With respect to the previous literature we concentrate on the monthly...

We investigate the long-run consequences of historic, climatic temperatures (1730-2000) for the modern cross-country income distribution. Using a newly constructed dataset of climatic temperatures stretching over three centuries (18th, 19th, and 20th), we estimate a robust and significant...

One of the most important themes to which Indian scholars have made pioneering contribution is the area of Islamic Economics. The present paper attempts to attempt to bring on the record postindependence India's contribution to Islamic economics.

Recent times have as a dominant feature "change" always and everywhere shown, with major implications for the evolution of contemporary society. Transformations and changes in the economic, political and social, are produced with an amazing speed and affect the visible organization XXI century...

Apesteguia and Palacios-Huerta (forthcoming) report for a sample of 129 shootouts from various seasons in ten different competitions that teams kicking first in soccer penalty shootouts win significantly more often than teams kicking second. Collecting data for the entire history of six major...

Nach dem aus historischer Perspektive außergewöhnlich starken Rückgang des weltweiten Bruttoinlandsprodukts im Jahr 2009 ist eine Diskussion darüber entbrannt, inwieweit die derzeitige Finanzkrise Einfluss auf die mittelfristigen Wachstumsperspektiven einer Volkswirtschaft hat. So war der...

In this paper we focus on the compliance effects of tax regime changes. According to the economic model of tax evasion, a tax reform should affect compliance through its impact on tax rates and incentives. Our findings demonstrate the importance of at least two further effects not covered by the...

In this paper we assess the information content of seven widely cited early indicators for the euro area with respect to forecasting area-wide industrial production. To this end, we use various tests that are designed to compare competing forecast models. In addition to the standard...