The classic dual economy models of developing countries hold minimum wages (among other institutions) accountable for persistent dualism. They note that applying or enforcing minimum wage laws in only one sector of the economy will create wage differentials which will not be eroded with labor...

We focus on the management of highly persistent shocks to aid flows, including HIPC or MDG-related increases in net flows, in the presence of currency substitution by the domestic private sector. Such shocks have beneficent long-run effects, but when currency substitution is high they can...

The high degree of economic integration has led to an increased degree of currency substitution in the EU countries, which could bring instability in national money demand functions while an EU-wide money demand function could be more stable. Currency substitution usually takes the form of cross...

This article considers a transition toward European monetary union that combines increased substitution of currencies and greater monetary, financial, and fiscal policy coordination. It explores how such a transition would affect national inflation and interest rates and required reserve ratios...

The extraordinary height of the U.S. current account deficits in the 90s gave rise to concern, a variety of papers and political recommendationsrevealing the very contrary opinions of economists on the subject.From this alarming evolution, the question of sustainability of such a...

Research in recent decades has shown that an analysis of underground economy from the limiting perspective of economic factors of influence is insufficient. Through an integrative approach it is opened the way to a multidisciplinary and multi causal understanding of all factors (economic,...

Verbreitete Armut ist nach wie vor eines der zentralen Probleme der arabischen Entwicklungsländer, das nicht nur auf begrenzte Erwerbsmöglichkeiten und geringe Einkommen zurückgeht. Große Teile der Bevölkerung verarmen auch deshalb immer wieder, weil sie keinen adäquaten Zugang zu...