Work incentives are closely related with production performance. This paper presents evidence that firm level value added increases when the relative labour cost rises, or the level of unemployment increases. Both facts imply evidence in favour of the efficiency wage model. This theory is...

This study examined the impact of using corporate tax to compensate for lost tariff revenue from trade liberalization on poverty in Ghana. Trade has been considerably liberalized in Ghana, which necessitated fiscal reforms to make up for the shortfall in government revenue. As part of the fiscal...

The problem of lack of competitiveness has become one of the main concerns of European governments. This is reflected trough out the Europe 2020 Strategy that includes as key priority the promotion and efficient and productive use of inputs. Differently to other “well-behaved” European...

Inflation perceived by consumers may differ from official statistics due to different baskets of goods and services both variables capture and by consumer loss aversion to price increases. Those effects, suggested by the Prospect Theory, are confirmed in many empirical studies, showing that...

Demographic change challenges the economy in many ways. The impact on pension systems, health care, labour force etc. has already been widely analysed. An ageing population directly increases the number of retired persons, the need for nursing places and the contribution rates for social...

The state budget crisis in the Eurozone has raised the issue of international trade imbalances prevailing in Europe. Whereas Germany holds a strong trade surplus other neighbouring countries show a deep trade deficit. The result is that some economies in Europe have built-up high debts in order...

The paper investigates the link between corruption and efficiency by using a rich micro-level dataset concerning solid waste collection activities in 529 Italian municipalities observed over the years 2004-2006. In order to test the impact of corruption on cost efficiency we estimate a...

Ever since the accession of Spain to the European Economic Community, Andalusia has been recipient of European Funds, hence, this paper proposes an analysis on the main macroeconomic variables of the region, that will reveal the economic impact of the European Funds received by the Autonomous...

The purpose of this paper is to evaluate the impact of trade cost reduction on the Asian economy by employing a sub-national level model based on New Economic Geography. Our model comprises seven sectors, including manufacturing and non-manufacturing sectors, and 1,715 regions in 18...

Today, China is the world’s leading gold producer and its second largest consumer. Traditionally imposing strict regulations on its gold market, China has ushered in a process of liberalisation a decade ago, encouraging individual gold trading, gold import and export. A boom in domestic demand...