We use recently developed cointegration tests that determine endogenously the regime shift to test for bilateral real interest rate convergence (real interest rate parity) in the G7 against the US in the 1974-1995 period. In contrast with previous studies that employed classical regression...

Possible means of rehabilitating the many depleted fisheries in European waters now form a topic of great interest and relavance. This paper uses bioeconomic analysis to predict returns of the Irish Sea Nephrops fishery from rationalisation through three types of management regulations.

The aim of this paper is to provide a different, somewhat more general, approach to the axiomatic ranking of opportunity sets in term of freedom of choice. The opportunity ransking is defined axiomatically relative to some standard of freedom or theory of freedom. The paper provides a general...

The authors employ the econometric techniques of multivariate cointegration and error-correction models to investigate the impact of the creation of the European Monetary System (EMS) on the volume of intra-European Union (EU) Exports for eight EU countries.

We analyse the long-run and short-run relationship between merchandise export volume and its determinants, foreign income, relative prices and exchange rate variability, using the techniques of cointegration and error correction. The model was estimated for Irish exports and sectoral exports...

The paper presents an axiomatic analysis of opportunity ranking within a logical framework. It established that any opportunity or freedom ranking is cimpletely determined by a subjacent logical chain that is interpreted as a freedom standard. However, a preferential interpretation of the chain...

Subsidies in the world's fishing industry have long been considered to have harmful effects on fish stocks. The fishing industry has suffered from over-capacity for many years and more pressure on fish stocks, many of which are already exploited close to extinction. However, this paper argues,...

The aim of this paper is to look at ways in which the contribution of investment in technology to consumer welfare might be measured. One useful approach to this question is demonstrated by means of a simple spatial model of trade and transportation. The model is used to elaborate on a...

We have tested for a long-run relationship between four US export measures and analogous import measures (measured in nominal and real terms, levels and deflated by GNP) inthe 1967-1994 period using quarterly data. Using various econometric tests that include standard Engle-Granger cointegration...

This paper discusses the main economic and social changes that have affected the well-being of households in Akytubinsk oblast in Kazakhstan and describes the general responses of the households to these changes. The analysis is based on secondary statistical data and on the results of a...