The joint behavior of investment and the current account is derived as a triangular simultaneous equations model. To estimate this model for the G7 countries, we propose a full-information GLS estimator for panel data that extends Zellner-Theil three-stage least squares estimator and allows for...

Arguably the most important development in recent decades in US factor markets is the decline in the relative wage of the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been identified as a key reason for the rising US wage...

What happens to revolutionary movements when they assume power? While the literature in political science and sociology has traditionally argued that new parties will reflect societal cleavages within nation states, recent analyses have challenged the assumption that new political parties will...

This paper presents a two-sector, two-country model showing that inflation in the housing market, a low personal savings rate, and a construction investment boom can contribute to a large current account deficit. In the model, demand by a group of households in the domestic country is...

В статье рассматривается международная миграция рабочей силы в Российской Федерации и Республике Хакасия за 16 лет, выявляются особенности развития этого...