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The capital structure of firms that face restrictions on liquidity (i.e. that cannot hedge continuously) is affected by the agency costs and moral-hazard implicit in the contracts they establish with stockholders and customers. It is demonstrated in this paper that then an optimal level of...
Persistent link: https://www.econbiz.de/10013159445
The paper deals with two issues. First, it focuses on the analysis of Armenia’s trade performance based on the … Armenia has been lagging in its export development relative to most CIS countries. The recent improvements in exports helped … somewhat to reduce the gap. The second part of the paper provides for re-estimation of the “costs of blockade” effect. Armenia …
Persistent link: https://www.econbiz.de/10005837260
This paper aims to develop a detailed analysis of quasi-fiscal deficits and subsidies, and their impact on Armenia … quasi-fiscal deficits and the incidence of quasi-fiscal subsidies in Armenia, as well as identify main recipients and donors … of quasi-fiscal financing. The main finding of the paper is that, while quasi-fiscal deficits in Armenia remain …
Persistent link: https://www.econbiz.de/10005620032
quantitative estimates of the costs of major transitional shocks for Armenia during the early transition, including the direct …, built on a detailed input-output model for Armenia, and using the actual 1987 data. Our estimates suggest that the … Armenia due to its lower dependence on transfers from the union budget. The actual economic decline in Armenia in the first …
Persistent link: https://www.econbiz.de/10005621368
underutilization for a case of Armenia, the paper provides a set of simple recommendations on how to rationalize the Diaspora …
Persistent link: https://www.econbiz.de/10005621635
models and impulse-response function analysis for the region countries, Georgia, Armenia, and Azerbaijan, separately for the …
Persistent link: https://www.econbiz.de/10011196659
The paper examines ways to expand the contribution of the Armenian diaspora to Armenia’s long-term development agenda … who have been active in and with Armenia. Based on these findings, it develops recommendations, consistent with the …
Persistent link: https://www.econbiz.de/10005790081
data from Armenia, I find that the country’s package of EPL has this same effect, and worker flows have slowed under the … country’s new Labor Code. The paradox of where Armenia’s workforce is going still remains but can be hypothesized as entering …
Persistent link: https://www.econbiz.de/10011257710
Drawing on the comparative household surveys, this article examines subjective wellbeing in Armenia, Azerbaijan and …
Persistent link: https://www.econbiz.de/10011258492
Active labour market policies are commonly used tool to fight unemployment. In the late 1970s in most developed countries of OECD government expenditures on those policies reached up to 1.5% of GDP. This created a need to evaluate the impact of such measures and perform cost‐benefit analyses....
Persistent link: https://www.econbiz.de/10011259669