The board of directors plays an important role in corporate governance. It is an internal mechanism that controls and monitors the actions of managers and aligns the utility functions between corporate owners and managers. The board of directors performs multiple functions that concern, for...

Presents a model of interregional wage-rate determination. Assumptions of indeterminacy under the wage theory; Presentation of the short-run and long-run labor supply; Impact of labor mobility constraint on wage determination. (Abstract copyright EBSCO.)

This study uses causality tests to determine the direction of causality between U.S. federal budget deficits and ex ante real long-term interest rates. For the 1971-1991 period, it is found that the ex ante real long-term interest rate may cause the structural budget deficit.

This study empirically investigates the impact of the federal budget deficit on the nominal interest rate yields on seven and ten year treasury notes over the 1992–2003 period. To measure the budget deficit, the primary budget deficit, which excludes net interest payments by the treasury,...

In this study, heteroskedasticity-corrected two stage least squares estimation is used to identify determinants of the inflation rate in Ecuador over the 1950-1995 period. During this time frame, Ecuador made the transition from an oil-importing nation to a net oil-exporting nation. Accordingly,...

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This study investigates the proposal to reduce the ratio of longer-term interest rates to short-term interest rates in the United States by shortening the maturity structure of the federal (central) government debt. The estimates presented provide very strong empirical support for such a policy...

This study develops a theoretical model to examine the impact of central government budget deficits on economic systems. The model addresses the issue from a supply-side perspective. It is shown that the budget deficit can itself he used by governments as a policy tool to influence the level of...