A limited number of studies have investigated the impacts of education on non-cognitive skills, yet they offer mixed results. A few studies suggest no impact, but others report positive impacts of education on non-cognitive skills. In this paper, we apply the elimination of Social Security...

In the last 60 years, the results of development aid have been mixed. Thus far, it has been mostly the aid recipient countries, which have been held responsible for aid’s shortcomings. That focus is misplaced, however, since the donor countries, through development aid, also export some of their...

This analysis highlights the significant role that domestic actors play in determining the outcomes of economic sanctions. It models the behavior of the main opposition party during an economic sanction episode, and introduces two commonly used variables when considering the effectiveness of...

These notes are based on parts of a keynote address to the Fourth Annual Conference on Money and Finance at Chapman University on 6-7 September 2019. Quantitative easing (QE) policies have been pushed to extremes and extended well beyond their use-by dates to little plausible effect in achieving...

It is a well-established regularity that permanent oil price shocks do not have a permanent effect on the current account deficit. This requires that sub-components of the current account or trade balance will make the necessary adjustments to accommodate the higher energy bill of a country...

The Corona crisis has clearly become an economic challenge for Europe. The spread of the virus represents both a negative supply shock and a negative demand shock across the economy at large. Securing the liquidity of companies is of top priority. Employment and household income can be...

Bio-E10 is short for the biofuel made up of 90% gasoline in volume and 10% bio-ethanol, which is the ethanol made from commercially-grown crops such as corn and wheat by the sugar fermentation process. In China, bio-E10 will be supplied nationwide from 2020 as an alternative to conventional...

This paper performs a two-stage methodology based on the Structural VAR and time-varying parameter regression models to examine the dynamic reaction of a set of oil-related countries' stock markets to oil price shocks. Oil prices are studied by disentangling demand and supply shocks. Based on...