The findings of the paper point to the fact that the fixed exchange rate regimes did not operateas an effective shield of protection from currency strains and transformational recessions.

The Envelope Theorem is shown to involve comparaisons 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.

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...

Structural weaknesses of the real Cyprus economy, according to recent data of her five year development plans place her in the objective one EU members i.e. island and peripheral region. In this respect Cyprus could benefit primarily from the EU Structural Funds and Community initiatives at a...

The aim of this paper is to identify the factors that determine the survival of new firms in Greek manufacturing in the 1982-1992 period.

This paper formalizes the link among electoral uncertainty, fiscal policy and economic growth. The setup is a dynamic general equilibrium model of optimal growth and fiscal policy, in which fiscal policy is endogenized through a game between two political parties that can alternate in power.

The aim of this paper is to improve our understanding of the empirical determinants of firm growth by extending the literature to include new groups of variables, namely sunk costs, financial structure and multinationality as well as by using more appropriate econometric techniques.

Global warming is expected to increase global mean temperature by 1.5 degree to 4.5 degrees sometime between 2030 et 2010, resulting in changes in the patterns of precipitation, a rise in the sea level, increased natural hazards, and other significant impacts. In this paper, I discuss the major...

Whilst their products are substituable for the consumer, there exist technological asymmetries across the unionized sectors of an economy. There are high-tech as well as low-tech sectors. We show, that, due to those asymmetries in productivity, inter-sectoral minimum wage agreements may...

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...