The payment of bonuses can bring big benefits. But harm, too, can result. In the financial sector, this is especially true, above all when they are related to noisy indicators of performance over brief periods. This paper starts by exploring these ideas, then proceeds to examine credit rating...

Energy is at the core of the way Canadians live. Yet recent research indicates that North America's supply of oil-our most consumed source of primary energy-may only last until 2025. So what happens when this valuable resource runs dry? In this highly readable introduction, Peter Sinclair...

Understanding how import prices adjust to exchange rates helps anticipate inflation effects and monetary policy responses. This paper examines exchange rate passthrough to the monthly import price index in South Africa during 1980-2009. A methodological innovation allows various short-run...

Despite the phenomenal development in stock markets in China, there is little research on the linkage between stock prices and economic growth in Greater China: mainland China, Hong Kong and Taiwan. This article represents a step towards systematically investigating the relationship between...

This paper develops a calibrated DSGE model for simulating China’s monetary policy and macroprudential policy. The empirical results show, first, that the interest rate is a better instrument for China’s monetary policy than the required reserve ratio when the central bank is solely...

Despite the increasing role of foreign direct investment (FDI) in economic development, very limited research has been carried out on the causal links between trade, FDI and economic growth in Asian economies. This study examines empirically the inter-play between exports, imports, FDI and...

Introduction to Economics, Sixth Edition gives a general and nonmathematical introductory approach to the field of economics. The monograph also updates the reader with economic issues over the years and modern economic analysis. The book is divided into seven parts. Part I includes basic topics...