This paper reassesses, at the light of economic and financial theory, the well-documented recent evolution of the euro area public debt and equity markets.

The purpose of this paper is to assess the implications of the Economic and Monetary Union (EMU) accession of eight Central and Eastern European Countries (CEECs) on their share in EMU-12 imports. Overcoming biases related to endogeneity, omitted variables and sample selection, our results...

We develop a new general equilibrium model of trade with heterogeneous firms, variable demand elasticities and endogenously determined wages. Trade integration favors wage convergence, intensifies competition, and forces the least efficient firms to leave the market, thereby affecting aggregate...

This paper studies the endogenous determination of financial and trade openness. We outline a framework where financial openness is endogenously determined by the authority’s choice of financial repression as a taxation device, and where the private sector determines endogenously the magnitude...

We develop a computable general equilibrium model of the Egyptian economy. The model is suitable for analyzing the impacts of reforms in the tax system, the trade-policy regime, or both taken together. A two-sector, general-equilibrium model is presented diagrammatically to illustrate the...

The issue of whether the ‘European model’ is viable in a globalized world raises the question as to what defines and conditions any European model and its competitiveness in the context of globalization and the new economy. For the sake of sustainability of its model but also to sustain...

WorldScan is a recursively dynamic general equilibrium model for the world economy, developed for the analysis of long-term issues in international economics. The model is used both as a tool to construct long-term scenarios and as an instrument for policy impact assessments, e.g. in the fields...

The paper tries to shed some light on the problems of centralization and decentralization within an economic union and the federal member states. Integration and decentralization are not opposite policy strategies but both meaningful if the single public goods and services supplies are analyzed...

This study of regional South-South (S-S) trade and cooperation in East, South and South-East Asian countries (ESSEA) aims to provide an economic rationale for S-S trade; shed some light on the extent and pattern of S-S trade in the ESSEA region; examine the dynamic forces behind the expansion of...

The article summarizes research results about global conflict from the main research publications and focuses them on the trajectory of the European Union, which, according to the author, will unfortunately embark on a terra ferma concept and which will embark on a strategy of global challenge...