Monetary policy loosening and the associated impact on credit availability may have played a role in the present financial crisis. If such liquidity risk exists and is undiversifiable, then loose monetary policy should be associated with a risk premium. This paper tests for the existence of such...

This paper shows that, controlling for standard determinants of net external positions, financially-remote countries exhibit more positive net external positions. This finding is found to be stronger for less advanced countries, hinting at external funding problems for more remote countries....

The current crisis calls for a re-assessment of the optimal conduct of macroeconomic policies during non-crisis normal times. In particular, the risk and costs of crises can be mitigated by macroeconomic policies that lean against the wind in the face of cyclical, sectoral and external shocks....

The paper investigates whether positive network effects may have existed between large-scale commercial farmers and small-scale communal farmers prior to the recent land redistribution in Zimbabwe. A difference-in-difference approach is used where measurement is carried out using several data...

In this paper, we examine the scope for international stock portfolio diversification, from the viewpoint of a United States representative investor, in regard to both the Asian and theEuropean stock markets. Our findings indicate that despite correlation style evidence to thecontrary, the...

We explore the extent to which social capital can play a role in imparting information about the returns to saving where potential knowledge gaps and mistrust exists. Using data from Vietnam we find strong evidence to support the hypothesis that information transmitted via reputable social...

Millions of people are killed or wounded by small arms each year. The aim of this study is to enhance our understanding of “missing” arms trade across countries. We proceed in two steps. First, we measure the extent of missing arms trade on the basis of official trade statistics. We...

This paper traces how the Great Depression was perceived in 1930s Ireland. Perceptions were complicated by internal political developments. Fianna Fáil, upon acceding to power in 1932, rapidly expanded protection and engaged in (near balanced budget) fiscal expansion. Despite the tariff war...

This paper has three goals. First, it seeks to explain the origins of the Irish crisis. Second, it provides an interim assessment of the Irish government?s management of the crisis. Third, it evaluates the lessons from Ireland for the macroeconomics of monetary unions.

The aim of this paper is to investigate the relationship between laws strengthening women’s rights, and children’s outcomes, namely child labor and educational attainment. We analyze the effects of a land reform introduced in Vietnam in 2003 that had the objective of reinforcing women’s...