We characterize the equilibrium and optimal resource allocations in a general equilibrium model of monopolistic competition with multiple asymmetric sectors and heterogeneous firms. We first derive general results for additively separable preferences and general productivity distributions, and...

This paper presents a general equilibrium model of interenterprise arrears, characterized by n-stage production technology with random productivity shocks. The model shows that large interenterprise arrears in transition economies may reflect substantial business risks in those countries and...

Although firms may face radically different production conditions, this dimension of firm heterogeneity is often overlooked. We model input demand across local factor markets, explicitly considering search costs which explain why firms care about both the price and availability of inputs. The...

We develop a quantitative framework in which income inequality arises endogenously in response to productivity shocks. The framework accommodates sectoral inputoutput linkages, arbitrary elasticities of factors and intermediates, and heterogeneous workers that endogenously choose to supply their...

The study provides new evidence on the effect of financial openness on FDI inflows in Nigeria using data that span the period from 1981 to 2016. The FMOLS estimator is employed. The study finds that financial openness is negatively and significantly related to FDI inflows, but its interaction...

This was the first paper to study exclusively the effects of Ramadan on the United Arab Emirates Stock market. In doing so, the study aims to establish such impacts with the intention of advising the investors on whether it would be profitable to invest during the holy month of Ramadan or no.The...

This paper presents an overview of legal framework of EU governing residence permits, employment pass and access to integration, describing the most frequent migration pathways employed by Bangladeshis in Italy. It discusses their migration trajectories, socio-demographic profile, the importance...

Purpose - While there exist many surveys on the use stochastic frontier analysis (SFA), many important issues and techniques in SFA were not well elaborated in the previous surveys, namely, regular models, copula modeling, nonparametric estimation by Grenander’s method of sieves, empirical...

This paper analyses the influence of religious differences amongst 10 villages on the remittance determinants and their socioeconomic impacts in remittance-receiving households in rural Bangladesh. Using micro-economic data from a survey conducted in 2013, multivariate analysis was carried out...

Short lived arbitrage opportunities arise when prices adjust with a lag to new information. They are toxic because they expose dealers to the risk of trading at stale quotes. Hence, theory implies that more frequent toxic arbitrage opportunities and a faster arbitrageurs' response to these...