Validation has been an important issue in using the ABM approach. It has been pointed out that deriving the necessary conditions for reproducing specific macro behavior is difficult due to the functional complexity of the models. However, based on the authors' experience in ABM, we believe it is...

The current study examines the relationship between GDP fluctuations and private investment by using macro panel approach in a panel of five selected South Asian countries (SSAC) including Bangladesh, India, Nepal, Pakistan and Sri Lanka for the period of 1980-2010. The study applies modern...

This paper investigates the effects of public investment in infrastructure on private output for Germany. Using a multivariate framework we explore the impact of a diverging selection of variables on the ensuing estimates and document confidence intervals computed following the bootstrap...

We present an argument from micro-economic foundations suggesting that the federal Alternative Minimum Tax has potentially salutary – and heretofore unrecognized – effects that counteract pathologies of state budgets over the business cycle. AMT liability increases with income, and acts to...

We present an argument from micro-economic foundations suggesting that the federal Alternative Minimum Tax has potentially salutary – and heretofore unrecognized – effects that counteract pathologies of state budgets over the business cycle. AMT liability increases with income, and acts to...

This paper examines the role of country-specific sources of output and interest rate or exchange rate volatility in driving FDI activities. Building on a dataset with bilateral FDI flows among 24 OECD economies over the period 1985-2007, we find that nominal and real volatility strongly deter...

Chapter 1. Introduction -- Chapter 2. Trends in Growth since the GFC -- Chapter 3. Credit, Employment and the Current Account -- Chapter 4. Capital Formation and Foreign Investment -- Chapter 5. Inflation and Monetary Developments -- Chapter 6. Policy and Analyses Chapter -- 7. Reflexive, not...