We consider a situation where the relatively ‘poor’ are concerned about their relative income status with respect to a relevant reference group. Such a concern is explicitly introduced in a utility function to study the consumption and saving behavior of the poor in terms of a static and...

This paper examines the question: ‘What is Middle East and North Africa (MENA) region initially needed: grow output or mitigate CO2 emissions? This question is a focus on the issue of both production function and environmental function based on the environmental Kuznets curve (EKC) approach....

The present study explores the relationship between economic growth, electricity consumption, urbanization and environmental degradation in case of United Arab Emirates. The study covers the quarter frequency data over the period of 1975-2011. We have applied the ARDL bounds testing approach to...

The purpose of this paper is to propose a model where trade has a direct and positive impact on growth rate of two trading nations beyond the level effect. We use the idea of virtual trade in intermediates induced by non- overlapping time zones and show how trade can increase the equilibrium...

In this study, income and consumption expenditures, which are the reflections of the economic growth’s supply and demand facades, are analyzed. There are six basic hypothesis, which try to explain how consumer spending affected from consumers' income levels and of these the most common is...

Classical economics envisaged to reach the subsistence level of wages in the long term. Keynes, however, argued that it would be sticky downward wages with trade union activities. Since the 1930s, governments have begun to phase out the laws of the minimum wage to support employees' income...

This paper investigates relationship between information communication technology (ICT), economic growth and electricity consumption using data of UAE over the period of 1975-2011.We have tested the unit properties of variables and the Bayer and Hanck combined cointegration approach for long run...

We propose a two-country growth model of intermediate business-services trade that captures the role of time zone differences. It is shown that a time-saving improvement in intermediate business-services trade involving production in different time zones can have a permanent impact on productivity.