This paper quantifies the interdependence in national labor markets in Central America, a topic that has not received attention in the economic integration literature. Two sets of panel data are constructed--one formed by the aggregation of annual time series data from Costa Rica and El...

This paper demonstrates that the appropriate econometric technique of testing for the effect of regional integration on bilateral trade is to augment the standard gravity model with country specific dummies instead of regional integration dummies. Using data on bilateral trade between Tanzania...

In this paper we analyze the Lisbon performance of the countries of the European Union from a long-term, structural perspective. It again turns out that first of all things get worse, before they get better – the old wisdom of classical development economics (Kuznets) and political science...

This paper explores the Greek economy since 1974, before and after joining the Economic and Monetary Union and some of the problems that the current global and European debt crises have created to Greek and to all European citizens. A social loss function and a partial equilibrium model are used...

In the last few years the U.S. economy and a number of Eurozone countries have experienced a recession. One of the results of the recessions has been an increase in their budget deficits and national debts. Both in the U.S. and in Europe policies of austerity have gained momentum. It is...