This paper investigates the simultaneous causal relationship between investments in information and communication technology (ICT) and flows of foreign direct investment (FDI), with reference to its implications on economic growth. For the empirical analysis we use data from 23 major countries...

Studying correlation between foreign direct investments (FDI) and economic growth might be as generous idea as meeting enough defaults and obstacles when put into practice. Then, the pair-models idea (Voivodas 1973) looks appropriate for such a study since determination complexities and...

We investigate non-oil sector effects of fiscal policy in Azerbaijan over a long time period in which a recent low oil prices sample is incorporated. To obtain robust empirical findings, we use different test and estimation methods as well as address small-sample bias issues in the extended...

This paper undertakes an empirical investigation of factors that contributed to economic growth in Indonesia for the period 1966 to 2003. A Cobb-Douglas production function is estimated with a time trend to capture the rate of technological progress within a cointegral and error-correction...

This paper studies the effects of an (exogenous) increase of nominal wages on profits, output, and growth. Inspired by an article by Michał Kalecki (1991), who concentrated on the effects on total profits, the paper develops a model that explicitly considers the dynamics of demand, prices,...

This paper studies the effects of an (exogenous) increase of nominal wages on profits, output, and growth. Inspired by an article by Michał Kalecki (1991), who concentrated on the effects on total profits, the paper develops a model that explicitly considers the dynamics of demand, prices,...

The paper examines changes in the Bulgarian economy following the global financial and economic crisis of 2008. The discussion is primarily based on the behavior of economic agents in the crisis – households and companies. The paper also seeks to address the changes in the external and fiscal...

Digitalisation can be viewed as a major supply/technology shock affecting macroeconomic aggregates that are important for monetary policy, such as output, productivity, investment, employment and prices. This paper takes stock of developments in the digital economy and their possible impacts...

We model firm-owned capital in a stochastic dynamic New-Keynesian general equilibrium model a la Calvo. We find that this structure implies equilibrium dynamics which are quantitatively different from the ones associated with a benchmark case where households accumulate capital and rent it to...

This paper employs an augmented version of the UECCC GARCH specification proposed in Conrad and Karanasos (2010) which allows for lagged in-mean effects, level effects as well as asymmetries in the conditional variances. In this unified framework we examine the twelve potential intertemporal...