Keeping monetary and fiscal policy separate causes economic distortions, thus the two should be merged. That is, in a recession for example, the government and central bank should simply spend more (and/or collect less tax), and fund the latter from new or “printed” money. Merging monetary...

“The path of a scholar” is the introduction to Production, Distribution and Trade: Alternative Perspectives, a volume of essays in honour of Sergio Parrinello (edited by Adriano Birolo, Duncan Foley, Heinz Kurz, Bertram Schefold and Ian Steedman, published by Routledge, 2010). The author...

The "recovered businesses" are firms that after facing economic difficulties to continue to operate have been managed by staff with the clear intention to continue the operation with auto-coordination, usually taking the form of Cooperative Work. This phenomenon has intensively taken place after...

The literature that study the positive relation between openness and growth is extensive, but the discussion about it isn´t close. That’s why, it deserves a deeper analysis that takes into account the level of development of the countries and the influence of the openness´ channels. The...

It is shown that the evolution of modern developed societies results into reduction of the role of centralized governance as well as economic and political competition, whereas the role of collaboration mechanisms is growing. This process is supported by cultural changes: increasing trust,...

The stance of Australia’s central authorities with respect to residential mortgage innovation appears different from many of our international counterparts. In this article we provide an interpretation of this policy stance, concluding that signals are arguably a more prominent feature of...

The objective of our work is to analyze the forecast performance of the dynamic Nelson-Siegel yield curve model and, for comparison, the first order autoregressive (AR(1)) model applied to a set of US bond yield data that covers a large timespan from November 1971 to December 2008. As a...

Like many consumer products, household mortgages have experienced significant innovation in recent decades, with mortgages becoming cheaper, more accessible, and with more features. Many observers have expected that this would increase demand for houses, contributing to a rise in house prices....

This paper deals with the impact of poor business environment on Total Factor Productivity (TFP), output and investment of manufacturing firms in Senegal. A benchmark study coupled with results from the World Bank Enterprise Survey narrowed down the list of relevant constraints to doing business...

Abstract This paper looks at the current situation of health deficits and shortages in Morocco with a focus on the roles of medical education and prospects for the health workforce for the period 2010-2030. The attained results from both trend description and simulations of patterns show major...