According to World Bank estimates, Papua New Guinea (PNG) achieved an annual per capita Gross National Income (GNI) of US$2,470 in 2022 (Trading Economics, 2022). This is considerably lower than neighboring countries such as Indonesia with a per capita GNI of US$4,580 (Jiao & Sihombing, 2023) or...

Ten years after the initial Climate Change Convention from Rio in 1992, the developed world is likely to ratify the Kyoto Protocol which has been celebrated as a milestone in climate protection. Standard economic theory, however, casts doubt that Kyoto will go beyond symbolic policy. In this...

Does the current account improve or deteriorate following a monetary policy expansion? We examine this issue theoretically and empirically. We show that a standard open economy DSGE model predicts that the current account response to a monetary policy shock depends on the degree of economic...

The main objectives of regulatory reform and privatization of infrastructure in Brazil were to attract new private investment, increase efficiency and reduce the public debt through the use of privatization revenues. Whereas the evidence suggests that regulatory reform (privatization included)...