We investigate the effects of globalisation on the labour market using the factor price frontier. The factor price frontier defines a negative relationship between the real rate of return and the real wage rate. As international capital mobility equalises the real rate of return in all...

Based on the factor price frontier, we investigate the effects of supply shocks ort labour markets in open economies. Two different supply shocks are considered: an oil price shock, and the integration of relatively labour-abundant countries into the world economy. With flexible wages, a...

Der von IWF entwickelte Code of Good Practices on Fiscal Transparency soll für eine umfassende Information der Öffentlichkeit über den Aufbau und die Aufgaben der Regierungen, die fiskalischen Ziele und die öffentlichen Haushalte sorgen. Die durch den Verhaltenskodex geforderte Transparenz...

This paper reviews Lebanon's ability to manage financial pressures following severe shocks despite its large public debt overhang and significant external vulnerabilities. Based on interviews with market participants in Beirut and London, the paper concludes that Lebanon's ability to weather...

For Afghanistan, the dual prospect of declining donor support and high ongoing security spending over the medium term keeps the government budget tight. This paper uses a general equilibrium model to capture the security-development tradeoff facing the government in its effort to rehabilitate...

Labour market flexibility is the key to sustainable economic development in advanced economies. The factor price frontier is used to analyse labour market adjustment in Ireland from the sixties to the present. The theoretical and empirical analysis lend support to the wideheld belief that...

The German current account balance has moved from surplus to deßcit in the course of unificalion. A theorelical model for the current account, encompassing the elaslicities, the monetary, and the absorptions approach, is set up and lested for Germany and the United States, using cointegration...

For Afghanistan, the dual prospect of declining donor support and high ongoing security spending over the medium term keeps its government budget tight. This paper uses a general equilibrium model to capture the security–development trade-off facing the government in its effort to...