This empirical paper uses a GMM-System panel estimator to assess the vulnerability of inflation in the new EU Member States to country-specific and global factors over the period 1998 to 2007, including an assessment of the more recent 2002 to 2007 period. Using a large dataset of macroeconomic,...

To empirically examine the impact of foreign direct investment and socio-cultural similarity on international trade between Russia and developed economies, we estimated a gravity model using panel data from Russia and 23 OECD member countries. To deal with the problem of Jensen's inequality, in...

The transition of several East European countries from the socialist economic system to the capitalist one is studied. A microeconomic model for the personal income distribution and its evolution and a simple functional relationship between the rate of the per capita GDP growth and the attained...

This paper analyses the extent of agricultural competition between EU-15 countries and CEECs during the period 1995–2005 in the light of future EU membership. Finger and Kreinin's index is computed with the BACI database provided by CEPII. The results indicate that Mediterranean countries...

In this paper, we show a similar concept of stability of the adjustment process concerning the difference between the weighted average and the actual value. Because the adjustment process includes only one eigenvalue of zero, and thus one dimension of freedom, it is difficult to apply the...

The transition of several East European countries from the socialist economic system to the capitalist one is studied. A microeconomic model for the personal income distribution and its evolution and a simple functional relationship between the rate of the per capita GDP growth and the attained...

This paper empirically analyzes the determinants of foreign direct investment for Sub-Saharan African countries and other some developing countries. Our results suggest that both productivity-related policy and exchange rate policy can be effective in sharpening FDI competitiveness, i.e., in...

We extend the Ravn, Schmitt-Grohe and Uribe (Review of Economic Studies, 2006) model of external deep-habits with the idea that some product varieties are more prone to habit formation than others. This s uncertainty in habit formation which affects firm's pricing. Provided that uncertainty is...

Christiano and Fitzgerald (2003) found a significant, positive correlation between M2 money growth and CPI inflation in all examined frequency bands for the U.S. prior to 1961. However, for post-1960 data, they found a positive correlation only in the frequency band corresponding to cycles of...

In a highly disaggregated product-level sample of monthly frequency prices, the degree of persistence in cross-location price differentials is estimated. When location specific effects are accounted for in measuring price differentials, the median half-life of the conditional convergence to the...