We study the impact of anticipated fiscal policy changes in the Ramsey economy when agents form expectations using adaptive learning. We extend the existing framework by distortionary taxes as well as elastic labour supply, which makes agents' decisions non-predetermined but more realistic. We...

After highlighting different views of Islamic scholars on option derivatives, the paper explores a potential role for option derivatives as useful risk management tool in commodity markets, while attuned to Islamic Shariah principles. The author illustrated a model of commodity stock market to...

This paper analyzes the relation between economic performance and CO2 emissions in Brazil, in the year 2004. The contribution of the productive sectors to total emission is established, taking into account the technological structure of the economy, the interrelations among sectors, the sectoral...

Human capital is generally considered as a positive contributor in the economic growth. In this study, we estimate this relationship using time series data of Pakistan for the period 1978 to 2007. A health adjusted education indicator for human capital is used in the standard Cobb-Douglas...

This paper deals with the question of the trade-offs between bio-fuels, fossil-fuels, and food. To do so an analysis is conducted taking into consideration the differences in relative prices and in the productive structure among the countries. The results shows that in general food puts a...

This study assesses the impact of income and asset poverty on child work using the rural sub-sample of the 2004 Malawi Integrated Household Survey. Instrumenting consumption expenditure with a location dummy variable and interacting consumption expenditure with household land-holding size in...

This note provides an analysis of Iranian economy in its post-revolution era with special emphasis on the country’s banking sector and discusses the reasons for Iran’s failure in reaching sustained economic growth and financial development.

The study is an empirical evaluation of specific criminal activities. The relationship of criminal activities with inflation, unemployment, investment, education and health are examined through an annual data set from 1980 to 2007. To test the order of integration, Augmented Dickey Fuller test...

World migration community covers 3% of the world population, in Europe it is around 7% and 4% in the Czech Republic. Europe is an important target for migration stimulated by the work offer but also by wars and natural disasters. In Western Europe at the end of the 20th century there were 20...

Data drain for peer active units operating in the same sector is a major factor that prevents policy makers from developing flawless strategic plans for their organisation. This study introduces a hybrid model that incorporates a purely deterministic method, Data Envelopment Analysis (DEA), and...