This paper employs a structural VAR procedure to test some fundamental propositions of the business cycle using a developing economy framework. The focus of the paper is on KBC, MBC and RBC theories as well as on the alternative view, which has been propagated mainly by Sims. The empirical...

This paper seeks to examine if the relative size of government (measured as the share of total expenditure in GNP can be determined to Granger cause the rate of economic growth, or if the rate of economic growth can be determined to Granger cause the relative size of government. For this...

The structural weakness of the real Cyprus economy revealed in recent five-year development plans places her in the objective one EU members, i.e. island and peripheral region. In this respect, Cyprus could primarily benefit from the EU Structural Funds and Community initiatives at a level to...

This paper examines whether incumbent national governments of 11 member states of the European Union manipulated the tax policy instruments at their disposal in order to create national political business cycles, opportunistic or partisan. The empirical evidence, based on data concerning the...

A methodology for decomposing a progressivity index into that of statutory tax rates and that of other provisions is presented. Besides, it provides a precise formulation of the relationship between tax progressivity components and income tax redistribution. Using 1978 Greek statistics, it is...

The purpose of this paper is to invetigate the demand and its composition between home-produced and imported for alcoholic beverages in Cyprus.

The objective of the study is to inquest the nature and direction of causality among public sector size, economic growth and macroeconomic state of the economy.

The purpose of this paper is threfold: first, to empirically investigate the cost-structure of railway systems in the ten European Countries of the European Union. second to provide measures of economies (diseconomies) of scale and fully investigate the manner by which economies of scale have...