This paper builds a quarterly Divisia monetary aggregate for the euro area using area-wide data over the sample period from 1980 to 2000, finding two main results. First, it is found that the demand for this monetary aggregate has been well behaved and relatively stable over the last two...

A small macroeconomic model is used as the basis for estimating the determinants of investment in South Africa within a simultaneous equations framework. Investment is highly sensitive to interest rates, relative prices, and political instability. The policy implications of such sensitivity are...

type="main" xml:id="obes12033-abs-0001" <title type="main">Abstract</title> <p>Humanitarian aid can be seen as a political investment motivated by altruism or by economic benefits for the donor. Uncertainty in the returns to this investment may generate hysteresis effects and inertia in aid allocations. I model the...</p>