The present study applies purpose-built dynamic computable general equilibrium models for Ghana and Kenya with a disaggregated country-specific representation of the power sector to simulate the prospective medium-run growth and distributional implications associated with a shift towards a...

An alternative theoretical setting is presented to characterise the money demand and the monetary equilibrium. Two main hypotheses are stated that contradict the assumptions normally sustained by scholars and policy-makers: National output is assumed to be a random variable, and people are...

The unconventional monetary policy actions of the Federal Reserve during the recent Global Financial Crisis often involve implicit subsidies to banks. This paper offers a theory of the non-neutrality of money associated with capital injection into banks via nominal transfers, in an environment...

Policy actions by the Federal Reserve during the recent financial crisis often involve recapitalization of banks. This paper offers a theory of the non-neutrality of money for policy actions taking the form of injecting capital into banks via nominal transfers, in an environment where banking...

This paper studies the effects that conventional and unconventional monetary policies generate when endogenous growth, trend inflation and financial frictions are considered in a New Keynesian macroeconomic model. Financial variables play a key role in the determination of the steady state...

The objective of this study is to compare the effect of different types of public support for R&D projects on firms’ technological capabilities. We distinguish be-tween low-interest loans and subsidies and between national and European sup-port. Using data on 2,319 Spanish firms during the...

The objective of the present study is to analyse the effect of technological cooperation on SMEs performance consideringtwo dimensions: technological and economic results. For that purpose, we use a data set containing information about participants in research joint ventures supported by the...

This paper, for the 2008 World Export Development Forum, considers the emerging importance of standards and offers a brief overview of the main public-private standards that increasingly govern trade in agrifood products. Their dynamic and rapidly evolving nature, particularly for ecolabels,...

The public authorities are facing real challenges due to the complexity and dynamics of economic and social issues. They must daily assess the available resources and answer to questions such as „is the citizens’ welfare good enough, can it be improved?” „there are the initiatives for...

The paper provides an overview of the potential social, economic and environmental impacts of an EU-Libya FTA as gauged by the EU-Libya Sustainability Impact Assessment (SIA). The main potential benefits to both the EU and Libya from the proposed trade agreement come from closer cooperation in...