Teak was first planted centuries ago in Java and the industry reached its peak in the 19th century. Java's teak plantations, the most extensive in the world, cover some 200 000 hectares, but they are being overexploited and NGOs are questioning their management by the state. Teak has become...

This paper considers empirical work relating to models of firm dynamics. We show that a hazard regression model for firm exits, with a modification to accommodate age-varying covariate effects, provides an empirical framework accommodating many of the features of interest in studies on firm...

This paper develops a dynamic monopolistic competition model with heterogenous firms to analyze the effects of uncertainty on international trade. We characterize a stationary equilibrium, with N symmetric countries, where firms’ productivities evolve stochastically over time. Our model...

The article represents a construction of a quarterly econometric model of the Slovenian economy and an analysis of fundamental relationships of the Slovenian economy. For this purpose we formed a system of identities, consistent with the national accounts, and of stochastic equations, consistent...

Three comparable cross-section household datasets, relating to 1988, 1993 and 1997-1999 are used to analyse income satisfaction in Slovenian households. The ordered probit model is used to estimate the effects of ‘objective’ variables, such as actual disposable household income and household...

This paper deals with the Tanzi method for the estimation of underground economy. The approach is discussed and modified. Refinements on the variables and on the econometric technique are proposed. The “adjusted” Tanzi method is then used to estimate the shadow economy in Italy along...

It is widely acknowledged that underground (unrecorded) economic activities play a major role in transition economies. Evaluations of the success and failure of the transition experience should therefore be based on total economic activity [TEA], namely, the sum of recorded and unrecorded...

A taxonomy of underground economies is elaborated based on the new institutional approach to economic development. Members of formal sectors confront different sets of transformation and transaction costs than do members of informal sectors and these differences are regarded as crucial to the...