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The aim of this paper is to provide some new empirical evidence on the determinants of volatility of real exchange rates in emerging countries, focusing on the role of international financial integration in particular. A reduced-form model is estimated using the GMM method for dynamic panels...
Persistent link: https://www.econbiz.de/10009371352
The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...
Persistent link: https://www.econbiz.de/10008596604
The sustainability of the welfare state ultimately depends on citizens’ preferences for income redistribution. They are …
Persistent link: https://www.econbiz.de/10008511616
The discounted utilitarian criterion for infinite horizon social choice has been criticized for treating generations unequally. We propose an extended rank-discounted utilitarian (ERDU) criterion instead. The criterion amounts to discounted utilitarianism on non-decreasing streams, but it treats...
Persistent link: https://www.econbiz.de/10008671700
There is a widespread consensus among the most important players in developed countries (voters, politicians, producers, traditional and green interest groups and bureaucracies) that a shift towards an eco-social market economy is essential for sustainable growth. Nevertheless, market-based...
Persistent link: https://www.econbiz.de/10008727290
In recent years, sustainability has represented one of the most important policy goals explored in the environmental … specification, namely modified EKC (MEKC), we show that there is an inverted U-shape relationship between sustainability and human …. More interestingly, findings from the estimation show that EKC hypothesis, HD and sustainability are crucial to build …
Persistent link: https://www.econbiz.de/10010765493
When confronted with market weaknesses and failures determining sustainability problems for environmental common … factors at work in determining the role of institutions to deal with sustainability issues and explores the implications of …
Persistent link: https://www.econbiz.de/10010723528
We discuss the sustainability of Chinese high growth relative to growth experience elsewhere, and specifically Soviet … sustainability of high Chinese growth. …
Persistent link: https://www.econbiz.de/10009645643
We propose a new criterion which reflects both the concern for welfare (utility) and the concern for rights in the evaluation of economic development paths. The concern for rights is captured by a pre-ordering over combinations of thresholds (floors or ceilings on various quantitative...
Persistent link: https://www.econbiz.de/10009651182
debt crisis has prompted a fundamental re]evaluation of public debt sustainability and the looming threat of sovereign debt … peacetime debt]to]GDP (Gross Domestic Product) ratio has never been higher. In this paper, we analyse the sustainability of …]torical analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and cointegration and the …
Persistent link: https://www.econbiz.de/10010627572