When income growth under price dispersion reduces the time of search and raises prices of purchases, the increase in purchase price can be presented as the increase in the willingness to pay for insurance or the willingness to pay for consumer credit. The optimal consumer decision represents the...

This paper analyses inclusive growth that focuses on the creation of opportunities for all. Inclusive growth allows people to contribute to and benefit from economic growth, while pro-poor growth approaches focusing on welfare of the poor only to reduce inequality. Recently, economics literature...

Iran has experienced an increasing rate of economic growth during recent years. We need to explain the causes of this growth if we are to help maintain it. In this study, we try to calibrate and apply a model in the context of new growth models, based on Ideas derived from the Iranian economy....

A lot of attention in the literature has been given to an important issue of the effect of capital mobility on economic growth of developing countries and little attention has been devoted to developed countries. Developed countries are main players in the global financial market. Lately,...

In this study the relation between the economic growth and the construction industry has been tackled. While the growth the rate of the construction industry in the developing countries is more than the GDP growth rate, it is detected that the percent age it takes in the GDP of developed...

This paper examines the impact of natural gas consumption, real gross fixed capital formation and trade on the real GDP in case of Tunisia over the period of 1980-2010. We used Auto-Regressive Distributed Lag (ARDL) bounds testing approach to test the existence of long run relationship between...

Economic growth is one of the most important issues discussed worldwide. Its dynamics over time seem to be crucial from the perspective of the ability of poor countries to catch up with highly developed economies. As can be easily noticed in world statistics, both GDP per capita and GDP growth...

Abstract Popular models for decision making under ambiguity assume that people use not one but multiple priors. This paper is a first attempt to experimentally elicit multiple priors. In an ambiguous scenario with two underlying states we measure a subject’s single prior, her other potential...

In a world characterized by the occurrence of uncontrollable and extreme events investors are often required to make decisions on the basis of the available information. The challenge they face is how to manipulate these information sets in order to get what can lead them to the optimal...

In order to test the existence of Thirlwall’s law for Turkey during the period of 1980-2008, bounds test approach to cointegration is applied. The empirical results suggest that Thirlwall’s law holds for Turkey. This study also suggests some policy recommendations to curb the deficits in the...