This paper identifies the sources of divergences between current exchange rate policies in Central and Eastern European countries (CEECs). We use an ordered logit model for the official (de jure) and the actual (de facto) exchange rate classifications. We find that the differences of the...

In this paper we gradually construct a monthly encompassing monetary model on the basis of its two constituting components: a money demand and a loan demand model. Each of the three models pays special attention to the intermediation role of banks by modelling the relation between the retail...

The aim of the research is the evaluation of the exchange rate of the Euro after the first six months of its existence. The main interpretative hypotheses of the research can be summarised in the following points: (i) the evolution of the Euro external value is strictly connected with the...

During the last decade, several EU countries have tried to tackle unemployment and low activity rates through extensive tax cuts. In an effort to encourage the taking up of work – especially amongst the less productive workers – policymakers have shown increasing interest in targeted tax and...

The consensus view among economists seems to be that a green tax reform is unlikely to be associated with a "double dividend" (Bovenberg 1998). However, the results derived in the present paper suggest that this view needs to be qualified. We demonstrate that a green tax reform is likely to be...

We present the results of a questionnaire study in Belgium, Burkina Faso and Indonesia focusing on the problem of the just allocation of an indivisible good. The formal axioms proposed in social choice theory are helpful in structuring the response patterns. Interindividual differences can be...

This paper looks at the optimal location of new forests in a suburban region under area constraints. The GIS-based methodology takes into account use benefits such as timber, hunting, carbon sequestration and recreation, non-use benefits (both bequest and existence values), opportunity costs of...

This paper considers a metropolitan area where residents can commute between several jurisdictions. These residents show NIMBY behavior (Not-In-My-Backyard). They try to preserve their living quality by pushing their polluting economic activity to the neighboring jurisdictions, while keeping...

We consider the computational problem of testing whether observed household consumption behavior satisfies the Collective Axiom of Revealed Preferences (CARP). We propose a graph such that the existence of a node-partitioning giving rise to two induced subgraphs that are acyclic implies that the...