This paper presents a stylized exchange rate pass-through model of crude oil price formation for the purpose of understanding the price reactions of OPEC Member Countries to changes in the exchange rate of the US dollar against major currencies and the prices of other Members. Our empirical...

This paper adapts a multinomial logit model to obtain the parameter estimates of demand with multiple choices for medical care services in the urban areas of Iran. The objective is to verify the effectiveness of the cost recovery policy by the Medical Services Insurance Organization of Iran. The...

This study examines the effects of changes in the exchange rate of the U.S. dollar on the trade balances of three oil-exporting countries, Iran, Venezuela, and Saudi Arabia. An exchange rate pass-through model is applied to allow changes in the exchange rate of the dollar to affect prices of...

This study examines whether, and to what extent, information and communication technology (ICT) has helped to improve economic growth. We adopt the traditional growth model as a framework to estimate contributions of labor, ICT, and non-ICT capital to economic growth in developed and developing...

The limiting distributions of two unit-root test statistics are derived and discussed for data that have both cross-sectional and time-series dimensions.

Building on recent advances in the theory of the optimal timing of investment under uncertainty, this paper proposes a stylized theoretical model to study an individual's optimal migration strategy. It shows that, as a result of following the optimal strategy, the individual may choose to delay...

Using Canadian data, the consumption-based asset pricing model is studied, defined in terms of nondurable and durable goods consumption. A two-stage estimation procedure is used, which takes account of the presence of common stochastic trends in the forcing processes. This method yields more...