This paper addresses the effects of natural disaster on areas that are inhabited by citizens without formal property rights. This is an issue that must be addressed in the context of the tsunamis that devastated Southeast Asia in December 2004. When large portions of these communities are washed...

We find that productivity gains in tradables cause an appreciation of the real exchange rate via both tradable and nontradable prices in the CEE-5 and have no affect in the Baltic countries, while they lead to a depreciation of the real exchange rate of tradables in OECD economies that...

Balance-sheet analysis (BSA) complements traditional flow-oriented macroeconomic analysis by gauging mismatches in aggregate and sectoral balance sheets of an economy. Enabled by recent progress in data availability, this paper applies BSA to Georgia, focusing on currency mismatches. In...

This paper surveys recent advances in the monetary transmission mechanism (MTM). In particular, while laying out the functioning of the separate channels in the MTM, special attention is paid to exploring possible interrelations between different channels through which they may amplify or...

This paper addresses the timing of a location's historical transition from rural to urban activity. We test whether urbanization occurs sooner in places with higher agricultural potential and comparatively lower transport costs, using worldwide data that divide the earth's surface at half-degree...

The aim of this paper is to analyse the possible trade-off between employment and productivity using panel data on world economies, developed and developing. We begin with the importance of productivity growth for developing countries, followed by a brief discussion of the concept of...

Foreign Direct Investment inflow in India has played a major role in the recent past. The fall of stock market in the month of May 2012 can be seen as a reason of the portfolio pull out of the FII's from the market. The paper is an attempt to gather the empirical evidences to see the slow down...

The co-existence of the ‘twin' banking and currency crises in emerging market economies has raised concerns regarding the underlying causes and potential remedies. Literatures suggest that there are at least three major approaches that could be used to explain the phenomenon: the microeconomic...

We develop a theory of labor quality based on (i) the division of the labor force between unskilled and skilled workers and (ii) investments in skilled workers. In our theory, countries differ in two key dimensions: talent and total factor productivity (TFP). We measure talent using the observed...

Spanish Abstract: El sector turístico a nivel mundial, ha tenido un comportamiento creciente en la movilidad de turistas en las últimas décadas. Lo cual ha permitido a los países la generación de recursos económicos y de empleos. En México también se ha observado un patrón similar, pero...