This paper addresses an issue that has been overlooked in the literature on the effects of population ageing: Transmission onto small countries of the economic effects of population ageing, a natural, demographic outcome of the shock that many large industrial countries experienced in the form...

Our paper decomposes knowledge-diffusing trade flows and estimates their impacts separately. Overall, trade generates positive knowledge spillovers, but the effects of intra-industry trade are ambiguous. With regard to sectoral import penetration, we find that potential positive spillovers are...

THE THRUST OF THIS PAPER HAS BEEN TO INVESTIGATE THE THEORETICAL PROPOSITION OF THE MONETARY APPROACH TO THE THEORY OF BALANCE OF PAYMENTS ADJUSTMENT MECHANISM. THE ESSENCE OF THE APPROACH IS A CONSISTENT INSISTENCE THAT BALANCE OF PAYMENTS IS A MONETARY AND NOT A REAL PHENOMENON AS POSITED BY...

Sumario El estudio utiliza las herramientas de series tiempo como las pruebas de raíz unitaria y corte estructural para analizar las series de los determinantes de la Inversión Extranjera de Cartera (IEC) y la misma IEC. Varias series fueron consideradas para el análisis de la IEC, entre los...

The paper attempts to analyze the implications of foreign capital inflow in a small open economy with a non-traded intermediary on the welfare and urban unemployment in a three- sector Harris-Todaro (1970) framework. The standard immiserizing result of a foreign capital inflow has been found to...

The paper shows that in a reasonable production structure for a developing economy a brain drain of skilled labour may raise the welfare of the economy while an emigration of unskilled labour is welfare reducing. Also an emigration of skilled / unskilled labour lowers the urban unemployment of...

Resumen El presente estudio se centra en analizar los factores que provocan el éxodo de capital en México, entre los que se incluyen: el saldo en cuenta corriente, el grado de sobrevaluación de la moneda, el diferencial en las tasas de interés entre México y Estados Unidos y el diferencial...

This paper investigates the efficiency implications of two kinds of worker protection, namely job security and income protection. Both of them have important aggregate efficiency effects in the dynamic labour markets, where worker mobility is costly. In the absence of firing costs, income...

The social consequences of restructuring can largely be understood in terms of the net employment impact and the imapct on government expenditures and revenues. When restructuring entails unemployment, government expenditure can mitigate the financial costs faced by those losing jobs at the...

We investigate the effect of institutions on efficiency of training markets. After setting up a theoretical institutional framework that shows how institutions affect efficiency, we apply this framework to the real world. An empirical analysis of institutions affecting training markets will...