The median age of the global population is presently increasing by nearly three months every year. Over the next couple of decades, almost every country in the world is set to experience an unprecedented increase in the share of elderly population. This development has the potential to...

The advent of EMU inspired a large literature searching for differences in the monetary policy transmission among European countries. Stylised facts seemed to arise, classifying the countries as having either rapid or slow transmission. Our paper takes a comprehensive look at the existing...

This paper seeks to contribute to our understanding of the dynamic effects of trade, especially from a developing country's point of view. A model is constructed, in which a continuum of goods is produced using labor and human capital in different proportions. It is then examined how opening up...