Extending the IS-MP-IA model developed by Romer (2000) and applying the GARCH (Engle, 1982, 2001) methodology, the author finds that equilibrium GDP in Germany is positively affected by stock market performance and real exchange rate appreciation, and negatively influenced by the expected...

In this paper, we test the hypothesis that higher economic development is associated with lower trade costs. Using exports from 103 Italian provinces to 188 countries over the period 1995-2004, we estimate distance elasticity, our measure of trade costs, through a gravity equation model of...

This paper examines the monetary policy rule in practice for China during the period from 1998Q1 to 2014Q2 by applying the Taylor rule and by estimating policy reaction functions. The analysis would be significant since during that period the monetary-policy instruments and targets have been...

Is capital more complementary to one of the genders? More specifically, which types of capital are complementary to which gender? This paper presents a first attempt at estimating capital-gender complementarities, at both aggregated and disaggregated levels. By employing a panel of 12 OECD...

The determination of the causal pattern among inflation, money growth, and exchange rate has important implications for policymakers regarding appropriate stabilization policies in developing economies. Using Congolese data where the pace of broad money growth and hyperinflation (23,760% annual...

There is a raging controversy regarding the impact of foreign aid on economic growth in developing countries. This paper contributes to the growing literature by examining empirically the impact of per capita aid on economic growth using the OLS methodology on time-series data covering the...

Economists have proffered myriads of causes of the debt problem faced by less developed countries (LDCs). This paper uses the panel data technique to investigate the fundamental causes of the debt problem among primary commodity dependent LDCs. The results show a strong link between high levels...

This paper analyzes the magnitude and determinants of capital flight from resource-rich developing countries (RRDCs) using macro-panel data from 21 countries from 1990 to 2011. Calculations reveal that capital flight from RRDCs was less serious than that experienced by some Latin American...

In this note we begin by replicate the results in “Schooling Quality in a Cross-Section of Countries” [Barro and Lee 2001, Economica 68]. Then, we go further and show that results can be different when more meaningful variables are considered. In particular, school inputs lessen their...

We investigate the optimality of the actual degree of Intellectual Property Rights protection using a methodology derived from Patent Race Literature. We applied the methodology to Colombia, using the available two Innovation Surveys. Our result are consistent with an already optimal existing...