This paper examines the impact of education on economic growth in Greece over the period 1981 – 2009 by applying the model with two sectors introduced by Lucas (1988). The findings of the empirical analysis reveal that there is no long-run relation between educational stock and output. In the...

The study investigates the role of higher education in economic growth for Pakistan between 1972 and 2005 using the application of Johansen Cointegration and Toda & Yamamoto (1995) Causality approach in Vector Autoregressive (VAR) framework. It examines whether higher education affect long run...

This research studies the extent of asymmetric responses of general fertility rate with financial development and income inequality in Bangladesh utilizing annual data from 1984-2019. We employ both linear and non- linear autoregressive distributed lag methodologies. Our study identifies a long...

The competitiveness of modern human and business are inextricably linked with the work of the stock market. In some cases, easily could be detected a correlation between trends or tendencies of the stock market and the directions of transformation of human behavior. What should people and...

Indonesia ranks sixth globally in terms of wealth distribution inequality. Changes in human capital development may affect labor force efficiency and productivity as well as wages and income inequality levels. This study applies a nonlinear autoregressive distributed lag (NARDL) model to data...

I apply the Johansen and Swensen (1999, 2004) method of testing exact rational expectations within the cointegrated VAR (Vector Auto-Regressive) model, to testing the New Keynesian (NK) model. This method permits the testing of rational expectation systems, while allowing for non-stationary...