We conduct a systematic study of the impact of European Union (EU) regional policies on regional economic growth that controls for national policies and geographic characteristics. Special care is taken in distinguishing between the impact of EU policies and of national policies on economic...

This paper reviews the econometric methodology on panel data estimation and testing as applied to the study of convergence in growth empirics. The concept of absolute convergence states that the poorer economies should be growing at a faster rate, catching up the richer ones. The empirical...

Brazil displays a geographic and institutional diversity unique in the world. It extends in a north-south direction rather than the east-west of other countries of similar size. Given the current debate on the relative role of geography and institutions in determining income levels, Brazil...

An overview of the economics literature on terrorism is presented. Papers are classified as to their macro versus micro and empirical versus theoretical emphasis. Although subjective, this classification makes clear where additional contributions can be made: most of the existing studies are of...

We draw on existing surveys on the economics of terrorism, classifying the contributions to the field by theme, main approach and methodology. Research articles are divided into the themes: Definition and measurement of terrorist activities; Nature of terrorists; Utility cost of terrorism;...

An overview of the economics literature on terrorism is presented. Papers are classified as to their macro versus micro and empirical versus theoretical emphasis. Although subjective, this classification makes clear where additional contributions can be made: most of the existing studies are of...

From 1995 to 2010 Portugal has accumulated a negative international asset position of 110 percent of GDP. In a developed and aging economy the number is astonishing and any argument to consider it sustainable must rely on extremely favorable forecasts on growth. Portuguese policy options are...

I construct a model in which money and bond holdings are consistent with individual decisions and aggregate variables such as production and interest rates. The agents are infinitely-lived, have constant-elasticity preferences, and receive a fraction of their income in money. Each agent solves a...

The crisis has drawn attention to the fact that not only emerging powers but other regions of the world as well may be offering different development models and may constitute into alternative, in some dimensions more positive agents, in the conduct of the present stage of globalisation....

I relate hours worked with taxes on consumption and labor. I propose a model and compare its predictions for Portugal, France, Spain, United Kingdom and United States. Hours per worker in Portugal decreased from 35.1 in 1986 to 32.6 in 2001. With only the parameters and the taxes for Portugal,...