This paper tests for PPP in a group of seventeen Latin American (LA) countries by applying fractional integration techniques to real exchange rate series. Compared to earlier studies on these economies, this approach has the advantage of allowing for non-integer values for the degree of...

The main aim of this paper is to analyse the reaction of real unit labour costs and labour productivity in the EU Member States to cyclical fluctuations in the economy of the EU and in the context of different starting positions for each state. The starting position of the states was determined...

Mediterranean countries have noticeable affect on the world wine exportation. Amongthese countries France, Greece and Turkey are selected for this study because of different winemarket, trade systems and wine policies they have. In this study, cointegration analysis wasconducted for real wine...

This paper estimates the effects of external constraints on growth and investment in the Mexican economy, and how those effects have changed since the economic liberalization of the 1980s and the formation of NAFTA in 1994. Shocks to net financial inflows, world oil prices, the U.S. growth rate,...

This paper derives the balance of payments-constrained growth (BPCG) model as a special case of a three good framework that incorporates ex- portables, importables, and non-tradables. The conditions under which the canonical form of the BPCG rate can be derived are made explicit and the...

This study empirically investigates the presence of crowding out effects emerging from intra- developing country competition in export markets for manufactured goods. Export equations are estimated for a panel consisting of twenty major developing country exporters of manufactures, after...

Many developing countries have adopted investor-friendly policies in recent years in order to attract export-oriented foreign direct investment (FDI). The effects of these policies on the external accounts have been largely ignored. This paper endogenizes FDI inflows in a structuralist general...

This paper examines the effects of permanent and transitory changes in government purchases in the context of a model of a small open economy that produces and consumes both traded and nontraded goods. The model incorporates an equilibrium interpretation of the business cycle that emphasizes the...

We use a panel dataset on industrial employment and trade for 9 Latin American countries for which liability dollarization data at the industrial level is available. We test whether real exchange rate fluctuations have a significant impact on employment, and analyze whether the impact varies...

The theory says that the balance on labour market is achieved through a wage. Nevertheless, the reality is more complicated. For employers, the wage (paid in money and in kind), represents two thirds of labour costs. The issue specifically concerns the low qualified workers, especially in...