Using data for the Philippines, I develop and estimate a heterogeneous agent model to analyze the role of monetary policy in a small open economy subject to sizable remittance fluctuations. I include “rule-of-thumb” households with no access to financial markets and test whether remittances...

This paper summarizes the main characteristics of the two major Chinese growth strategies since 1978, namely the Deng strategy (named after Deng Xiaoping) between 1978 and 2011 and the Xi strategy (named after Xi Jinping) since 2012/13. After a brief description of both strategies, I analyze in...

This paper summarizes the main characteristics of the two major Chinese growth strategies since 1978, namely the Deng strategy (named after Deng Xiaoping) between 1978 and 2011 and the Xi strategy (named after Xi Jinping) since 2012/13. After a brief description of both strategies, I analyze in...

The economic development of the Turkish Republic of Northern Cyprus remains to be volatile mainly due to the isolation of the de facto Turkish Cypriot state. While on one hand, high costs of energy in the Turkish Republic of Northern Cyprus associated with the isolation, remains as a huge...

In this paper we attempt to show that, however being little from a topological point of view, the set of singular economies plays a considerable role in the development of the economies.