Showing 1 - 10 of 89
This paper explores the interaction between labor market deregulation, monetary union and unemployment. Monetary policy autonomy and monetary union are compared in their influence on the optimal level of labor market deregulation consented to and wages demanded by labor unions. EMU leads to...
Persistent link: https://www.econbiz.de/10010840818
This article provides a general and robust empirical examination of speculative pressure on various exchange rate regimes using an unusually large panel of monthly data for developed countries, analysed within the framework of Limited- Dependent Variable (LDV) models with various innovations and...
Persistent link: https://www.econbiz.de/10009391983
This paper examines whether individual countries’ data show that FDI inflows facilitate capital flight and whether capital flight occurs due to poor domestic investment climate or is it due to discriminatory treatment against residents’ investment. Three capital flight measures are used....
Persistent link: https://www.econbiz.de/10010840783
Why are some currency crises followed by economic contractions while others are not? This paper is an attempt at answering this query. In particular, we investigate two closely related questions. First, we explore whether there is a difference in the output effects of a devaluation during...
Persistent link: https://www.econbiz.de/10009391981
The main objective of this study is to highlight the importance of political instability, defined as frequent changes in and of government, in undermining the Russian exchange rate based stabilization program of the 1990s. The empirical evidence supports the significance of political instability...
Persistent link: https://www.econbiz.de/10009392045
At present, the European Union (EU) is facing the biggest round of enlargement in its history. Many of the EU accession countries, which are less developed than the incumbents, will seek accession to the European Monetary Union (EMU) soon after the required two-year qualifying period. This is...
Persistent link: https://www.econbiz.de/10010991726
This paper examines the relationship between market integration and product diversification in a Chamberlinian model of monopolistic competition. In the first version of the model, production of the firm is organised in activities producing either one or two horizontally differentiated...
Persistent link: https://www.econbiz.de/10010991729
On behalf of almost twenty thousand faculty members and students of Sejong University, I would like to extend my hearty welcome to the participants, particularly from abroad, to attend the conference. I sincerely hope that your contributions today will substantially enhance the possibility of...
Persistent link: https://www.econbiz.de/10010991761
I. Origin of Integration in Human History : Since life first began on earth 3.5 billions years ago, countless species have appeared and disappeared strictly according to the law of the jungle where only the fittest survived. Before the emergence of mankind, the earth had already gone through...
Persistent link: https://www.econbiz.de/10010991765
Adherents to the “natural trading partner” hypothesis argue that forming a PTA is more likely to raise welfare if member countries already trade disproportionately with each other. Opponents of the hypothesis claim that the opposite is true: welfare is likely to be higher if member countries...
Persistent link: https://www.econbiz.de/10010991768