The main objective of this paper is to measure the currency misalignment of the Croatian kuna and to reveal whether it affects economic growth for the period 2001 (Q1) to 2013 (Q3). The estimate relies on recent cointegration techniques, VAR models and Granger causality tests. The findings show...

This study presents a two-period overlapping-generations model featuring en- dogenous growth and intergenerational conflict over fiscal policy. In particular, we characterize a Markov-perfect political equilibrium of the voting game between gen- erations, and show the following results. First,...

This paper develops a two-period overlapping-generations model featuring en- dogenous growth and intergenerational conflict over fiscal policy. In particular, the paper characterizes a Markov-perfect political equilibrium of the voting game be- tween generations, and shows the following results....

The paper investigates whether differences in public sector management quality affect the link between public debt and economic growth in developing countries. For this purpose, we primarily use World Bank’s institutional indices of public sector management (PSM). Using PSM thresholds, we...

This study aims to predict the effects of financial development and Trade openness on the German energy consumption. To ensure this, the study used time series data from 1970- 2013. Following to this, the Zivot-Andrew structural break unit root test, the Bayer-Hank combined cointegration test,...

This paper attempts to examine the causal relationship between nuclear energy consumption and economic growth for four industrialised countries; the US, Canada, Japan, and France, between 1965 to 2010. In a multivariate framework that accounts for other key determinants such that of oil demand...

India’s fossil fuel based energy-led economic growth has changed its pattern over a time and it is mainly driven by energy efficiency. In this paper, we have considered reduction in energy waste as a proxy of energy efficiency and analyzed its interplay with economic growth for 1971-2010. We...

This study examined whether the expanding economic growth prospects of the UK could pose a threat to its existing energy predicaments. To ensure this, time series data from 1970- 2013 was used while the Zivot-Andrew structural break unit root test, the Bayer-Hank combined cointegration test, the...

With initial low levels of income per capita, a declining population and relatively modest economic growth rates, there are little prospects of diminishing the gap between Romania and the EU countries. Nevertheless, in the long term, convergence is expected. The question then arises, “What are...

Major dysfunctionalities can arise from the demographic decline, both on a social level and from the perspective of the economic-financial evolution of the world’s states. The obvious aging of the industrialized states’ population overlapping the import of cheap workforce in the developing...