We offer a specific channel on Kuznets' hypothesis: intersectoral urban-rural size differences result in an intersectoral income inequality, increasing the national inequality; this, in turn, prompts an intersectoral migration, which works as an equilibriating mechanism, decreasing the...

In the past decade many developing economies started to privatize their state owned enterprises. Recently, however, this process seems to have slowed down in some economies and have completely been stalled in others. Here we formalize the view that this is so because these enterprises are major...

The object of this paper is to demonstrate the possible risks of quantitative easing in the long run. The analysis is conducted in the conventional framework of IS-LM curves in a sequential model, which assumes that the independence of supply and demand curves does not necessarily hold. It is...

This paper examines the effects of tourism in a dynamic model of trade on unemployment, capital accumulation and resident welfare. A tourism boom improves the terms of trade, increases labor employment, but lowers capital accumulation. The reduction in the capital stock depends on the degree of...

Zipf's law states that the population size of a city is inversely proportional to its population rank of the city. This paper examines the applicability of the Zipf's law to the world rank of corruption. The relationship between corruption and its rank is found to be approximately log-linear but...

This paper examines the effects of tourism on labor employment, capital accumulation and resident welfare for a small open economy with unemployment. A tourism boom improves the terms of trade, increases labor employment, but lowers capital accumulation. The reduction in the capital stock...

This paper develops a simple model to explain two stylised facts about immigration. First, some countries have a low ratio of migrants in their population, while other wealthy countries have a high number of migrants. In fact such migrants are of the same order of magnitude as their domestic...

In this paper we examine the impact of tied aid on capital accumulation and welfare in the presence of a quota on imports. Using a simulation model we establish that tied aid can lower the relative domestic price of the manufactured good and therefore reduce the stock of capital. In the presence...

Using the production function suggested by Jones and Manuelli (1990), this paper explores the consequences of introducing automation and artificial intelligence into a trade theoretic framework. An immediate implication is the possibility of a reversal of the trade patterns predicted by standard...

This paper examines the effects of tourism in a dynamic model of trade on unemployment, capital accumulation and resident welfare. A tourism boom improves the terms of trade, increases labor employment, but lowers capital accumulation. The reduction in the capital stock depends on the degree of...