In this paper we question the consensus of using a binary crisisdefinition for empirical crisis models. We believe that the most severeshortcomings of the crisis models today are in the crisis definition rather than the explanatory variables ...

We analyze the trade and welfare impact of quarantine measures imposed by Australiaon imports of pigmeat. In particular, we account for changes to Australia’s pigmeat quarantinepolicy over time including those changes related to the recent resolution of a WTO disputebetween Australia and the...

This paper demonstrates effects of economic convergence processes on the foreign exchange behaviour in a monetary modelling approach. Since the exchange rate represents the relative price of two currencies, commonness of stochastic trends between the fundamental determinants of supply and demand...