Ee try to answer two very important questions; firstly if the Greek fiscal policy has been consistent with the government intertemporal budget constraint during the two tested periods, 1833-2009 and 1960-2009. We separate the last 50 years which according to most politicians was the problematic...

CGE models usually assume extremes of factor mobility: factors either move between industries without cost or they do not move at all. With the assumption of mobile factors, simulations lead to reallocation of factors among different sectors of the economy which often vary strongly in factor...

Developed countries are investing a considerable amount of financial resources on active labour market programs such as training schemes, employment subsidies and public sector job creation, aiming to tackle the problem of persisting unemployment. Along with their rising efforts in this field,...

Several times a year, OPEC hosts conferences with its members to review oil fundamentals and decide on production quota adjustments. The organization meets behind closed doors, but the opening meeting is open to the press and usually fuels market speculation on which agreement concerning oil...

Most of Basel II and III financial regulations are based on data, treated in a statistical mindset. While regulators call for forward-looking risk management, they suggest no time-based modeling approach. In macroeconomic catastrophes modeling, this is a great setback. This paper reports the...

Developing economies, like Nigeria, have historically been reluctant to admitting more than a moderate degree of exchange rate flexibility due to the fear that such variations might feed into domestic prices. The potential vulnerability of small and open economies to exchange rate pass-through...

This study aims to examine the situation, general management and performance of international private transportation services for passengers between Thailand and the Laos PDR at the Thai-Laos Friendship Bridge check point, Nong Khai Province. Other objectives are to analyze the market structure,...

Agriculture in the EU is strongly influenced by public policies. Most of the existing economic models which provide ex-ante analyses are defined on a more or less aggregated level, which ignores the underlying heterogeneity among farms in Europe. This paper presents a model which fills this gap,...

The need to reduce emissions of greenhouse gases has been placed in recent years. The improvement in the efficiency of use is one of the pillars of the energy policies in most countries. Particularly, in Spain, rates of energy intensity are among the highest in the European Union. With an...

The aim of this paper is to derive the optimal inflation rate for the Euro Area (EA) countries from the relationship between relative price variability (RPV). In order to achieve the above stated goal, we have utilized monthly data for the Harmonized Index of Consumer Prices between January 1997...