This contribution applies the cointegrated vector autoregressive (CVAR) model to analyze the long-run behavior and short-run dynamics of stock markets across five developed and three emerging economies. The main objective is to check whether liquidity conditions play an important role in stock...

A Theoretical Framework -- Specifications and Assumptions -- Underlying Equilibrium Growth Paths -- Variations in Employment -- Some Important Implications -- Exchange Rate Overshooting -- Exchange Rate Determination -- Issues Regarding Exchange Rate Determination -- Time Series Properties of...

Conceptualising employment and volunteering as two distinct forms of social inclusion, Susanne Strauss analyses their interrelations in Germany and Great Britain. On the basis of household panel data, she answers questions such as: Does job loss lead people to give up their volunteer work? Or do...

The importance of entrepreneurship for achieving economic growth in contemporary economies is widely recognized, both by policy makers and economists. However, empirical evidence linking entrepreneurship to economic growth is scarce. Empirical Analysis of Entrepreneurship and Economic Growth...

Kuklys examines how Nobel Prize-winning economist Amartya Sen?s approach to welfare measurement can be put in practice for poverty and inequality measurement in affluent societies such as the UK. Sen argues that an individual?s welfare should not be measured in terms of her income, but in terms...

This book is a work of contemporary economic history focusing primarily on the US and the UK. It shows that, historically, much of the wealth of the ultra-wealthy has been based on inheritance, tax evasion, political influence, or wage theft. Today, much of the wealth of the rentier class-the...

In an organized and organic way, this book covers all the possible theoretical and empirical facets of delisting, adding to the well-developed literature on IPOs. IPO and delisting are strictly related; the reasons for delisting may be found in the loss of the incentives that drove the firm to the...

This book examines the linkage between central bank structure, central bank autonomy-with respect to setting its monetary policy goals, choosing its policy mechanisms, legal independence, and financial independence-and monetary policy, both in select benchmark countries and at a broader...

This book highlights the contribution of language standardization to the economic rise of the West between 1600 and 1860. Previous studies have been unable to explain why during this period almost all industrial innovation was confined to small areas around the main cultural centers of three...

This book addresses some of the major issues facing postal and delivery services throughout the world. Postal operators worldwide have been slow to address the threats from and opportunities created by electronic competition. The European Commission and member states are wrestling with these...