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A methodology to calibrate multifactor interest rate model for transition countries is proposed. The usual methodology of calibration with implied volatility cannot be used as there are no markets for regularly traded derivatives. The existence of such a markets is essential for this...
Persistent link: https://www.econbiz.de/10005413130
Monthly panel (1998-2003) data from regional labor offices in Latvia are used to analyze the matching process in a high unemployment – low labor demand environment and to evaluate the impact of active labor market policy programs on outflows from unemployment. Results suggest that the hiring...
Persistent link: https://www.econbiz.de/10005556810
This paper analyses the determinants of happiness in seven Eastern European transition countries during the early phase of economic transition. The analysis of representative survey data in an ordered logit model shows that those core socio-demographic and economic variables known to be relevant...
Persistent link: https://www.econbiz.de/10005560958
illustrate the interrelationships between natural resources, corruption and economic growth in Nigeria. We proposed anti-corruption …
Persistent link: https://www.econbiz.de/10005076578
corruption on the one hand, and growth and investment on the other, and it highlights the costs to economies where the state is …
Persistent link: https://www.econbiz.de/10005077053
grounds. The first is that they prevent corruption, the second is that they democratize the financing of campaigns by …
Persistent link: https://www.econbiz.de/10005125869
traditional anticorruption measures such as the increase in corruption costs or the organization of public education campaigns … would not permanently reduce corruption levels if poverty remains diffused. Using an overlapping generation model based on a … mechanism of cultural transmission, we study the evolution both of social attidudes towards bureaucratic corruption and the …
Persistent link: https://www.econbiz.de/10005125941
corruption. It shows that an improvement in institutional quality reduces the shadow economy and affects the corruption market …. The exact relationship between corruption and institutional quality is, however, ambiguous and depends on the relative … effectiveness of the institutional quality in the shadow and corruption markets. The predictions of the model are empirically tested …
Persistent link: https://www.econbiz.de/10005125947
The causes and consequences of corruption have attracted much attention in recent years by both academics and policy … makers. Central in the discussion on the impact of corruption are perception-based indices. While informative, these indices … are ordinal in nature and hence provide no indication of how much economic loss is attributed to corruption. Arguably …
Persistent link: https://www.econbiz.de/10005125948
Corruption scandals seem to abound in countries that have recently undergone reform. Despite the proliferation of …—actually causes an increase in corruption. Theory provides no guidance as to the direction of causality—on the one hand, reforms make … politicians accountable to voters, as well as introduce more competition, which should decrease corruption. On the other hand, the …
Persistent link: https://www.econbiz.de/10005125949