This paper provides a unifying framework in which identified offset and sterilisation equations can be derived and estimated. The theoretical model suggests that, in the case where the central bank cares about bouth external and internal goals and capital is less than perfectly mobile, there...

The Envelope Theorem is showm to involve comparisons between the performance of the optimal policy and that of alternative policies, which satisfy the constraints of the problem and may also have other features. The theorem is activated whenever parameter values are such that the extreme value...

This paper investigates if, and how, aternative bargaining agentas may sustain (or, emerge) endogenously, under conditions of centralized wage bargaining, in industries with market power. The wage & employment bargains agenta ("Efficient Bargains") is shown to be a strategic device to induce...

The purpose of this paper is to invetigate the demand and its composition between home-produced and imported for alcoholic beverages in Cyprus.

The objective of the study is to inquest the nature and direction of causality among public sector size, economic growth and macroeconomic state of the economy.

Recent years have witnessed a growth of interest in experimental economics. Indeed, it has become a rather influential project. Somewhat surprisingly, although it is a project unqeustionably concerned with method, it appears to have generated very little sustained methodological discussion....

Household budget survey data and public budget consolideted data for 1987/88 are combined to yoeld a non-estimation based measure of benefit of government education outlays in Greece. As expected for a country where education services are provided free of charge and the role of private education...

The answer to this question is "yes". We examine noncooperative and cooperative equilibria under perfect capital mobility. To this end, we develop a two-country optimal growth model with endogenous national fiscal policies. The channel for interdependence is distortionary income taxes.