This volume is mainly concerned with methods of estimating income elasticity. It is connected with economic development that can be achieved by reducing income inequality, a highly relevant subject in today's world for a wide range of policy areas.

Recently questions have been raised about the effectiveness of fiscal stimulus policies, and about whether stimulus to a recessionary economy should be in the form of tax cuts or expenditure increases. This paper evaluates alternative empirical approaches to measuring the impact of fiscal policy...

We investigate whether global value chains have increased the sensitivity of Chinese trade to foreign income shocks. This may occur through either composition or supply chain effects. We find evidence for the former, but not the latter.

Purpose – This paper aims to examine the impact of oil prices on trade's sensitivity to distance. Furthermore, it seeks to investigate if the nature of trade and the type of goods have a mediating role on the oil prices' impact on trade. Design/methodology/approach – A set of gravity models...

System-based cointegration methods have become popular tools for economic analysis and forecasting. However, the identification of structural relationships is often problematic. Using a theory-directed sequential reduction method suggested by Hall, Henry and Greenslade [Hall, S. G., Henry,...