This paper has two main objectives. Firstly, to establish and characterise a reference cycle (based on real output) for Barbados over the quarterly period 1974-2003 using the Bry and Boschan algorithm. Secondly, to link this aggregate output cycle to the cycles of the individual sectors that...

Using panel structural VAR analysis and quarterly data from four industrialized countries, we document that an increase in government purchases leads to an expansion in output and private consumption, a deterioration in the trade balance, and a depreciation of the real exchange rate (i.e., a...

This article examines the potential role of government size in explaining differences in output volatility across OECD countries in the context of the latest recession. There is some evidence to suggest that government size as measured by the share of expenditure in GDP has a modest negative...

The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...

This article examines the potential role of government size in explaining differences in output volatility across OECD countries in the context of the latest recession. There is some evidence to suggest that government size as measured by the share of expenditure in GDP has a modest negative...

From a neo liberalist’s perspective FDI triggers technology spillovers, assists human capital formation, contributes to international trade integration, helps to create a more competitive business environment and enhances enterprise development. This will contribute to higher economic growth,...

This paper examines the persistent deterioration in the international external position of the U.S. over the past 60 years. I develop a model without Ponzi schemes and arbitrage opportunities that accounts for both the secular rise and the cyclical variations in the U.S. international debt...

“Being rich in energy resources – a blessing or a curse” finds that an energy resource curse plagues many EU supplier states. This in turn directly affects Europe’s energy supply security and threatens to engulf Europe in unwanted hostilities at home and abroad. The study addresses seven...

This paper discusses Japanese motor vehicle manufacturing investment and state intervention measures in the Australian market. Australia’s auto industry is an extension of global motor vehicle manufacturers with a small number of domestic manufacturing firms that form a part of the global...

This book is a selection of VoxEU.org columns that deal with the ongoing global financial crisis. VoxEU.org is a portal for research-based policy analysis and commentary written by leading economists. It was launched in June 2007 with the aim of enriching the economic policy debate by making it...