This study investigates the determinants, textual properties, and consequences of the newly disclosed U.S. critical audit matters (CAMs). We find that complexity, financial reporting issues, and the magnitude of accounts that require high degrees of judgment significantly determine the quantity...

Small businesses are increasingly becoming the drivers of the holistic growth of a nation and also contributing to global development across sectors and some regions. Despite these considerations, overall the participation of MSMEs in international trade has remained insignificant and sparse....

This paper compares alternative monetary policy rules in a model of an emerging market economy that experiences external shocks to world interest rates and the terms of trade. The model is a two-sector dynamic open economy, with endogenous capital accumulation and slow price adjustment. Two key...

Most theoretical analysis of flexible vs. fixed exchange rates take the degree of nominal rigidity to be independent of the exchange rate regime choice itself. But informal policy discussion often suggests that a credible exchange rate peg may increase internal price flexibility. This paper...

This paper tests the implication of the Stolper-Samuelson theorem that capital-poor individuals prefer more trade openness in poor (capital-scarce) countries and less trade in rich (labor-scarce) countries, by using a broad panel of countries and new exogenous determinants of trade openness....

We show that an ostensibly disparate set of stylized facts regarding firm pricing behavior can arise in a Ricardian model with Bertrand competition. Generalizing the Bernard, Eaton, Jenson, and Kortum (2003) model allows firms' markups over marginal cost to fall under trade liberalization, but...

This paper describes one proposition about dynamic Markowitz portfolio selection in an open economy. Here it is proved that, assuming that two countries in an open economy share the same risk absolute aversion coefficient and the same information set with some conditions, the portfolio each...

Mundell (1961) claimed that the viability of a currency union relies on the degree of labour mobility. In the present paper an attempt is made to introduce a test for the viability of a currency union. To this end author will try to measure in European countries the relative real wage rigidity...

Indeed, the global production (as a system of creating values) is eventually forming like a gigantic and complex network/web of value chains that explains the transitional structures of global trade and development of the global economy. It’s truly a new wave of globalisation, and we term it...

The global production (as a system of creating values) is eventually forming a vast web of value chains that explains the transitional structures of global trade and development of the world economy. It is truly a new wave of globalisation, and we can term it as the global value chains (GVCs),...