This paper develops a model of voluntary migration into degrading work. The essence of the model is a tension between two “bads:” that which arises from being relatively deprived at home, and that which arises from engaging in humiliating work away from home. Balancing between these two...

This paper studies the effect that financial innovation, which seems very prominent in recent years, has on money. Using Japanese regional data and the money demand specification, we first provide evidence of instability in the simple money-output relationship. However, when this relationship is...

The chapter argues for rules to coordinate monetary and fiscal policies. But the rules are rule like only in imposing forward-looking behaviour, while they allow the discretion to respond to shocks. They would serve to anchor expectations, and align private sector actions with desired outcomes....

This paper analyzes how risk premia—and other factors affecting the comparative advantages of security-funded versus deposit-funded short-run debt—altered the relative use of debt funded by securities markets since the early-1960s and the relative use of commercial paper during the recent...

In the poorest countries like Ethiopia the spillover effects of a soaring food price is unbearable. To mitigate the recent rise in food prices and the burden on urban poor consumers, policy makers have considered various measures. A recent shift from subsidizing oil to grain to ease the...

This article discusses the prospects and problems facing Italian small and medium sized enterprises that have recently engaged in direct investment through the establishment of production facilities in China and India. Using data gathered from 15 interviews conducted in those countries in 2009,...

The aim of this paper is to describe the national innovation system (NIS) in Morocco. Technological inputs (R & D, number of researchers, number of students in science and technology etc.) and the institutional organization of research are discussed. INS in the Moroccan case is characterized by...

For Latvia with incoming into the European Union big opportunities in the international markets have opened. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. In paper various indicators of a national economy before and after...

Three striking empirical regularities have been repeatedly reported: the positive correlation between housing prices and trading volume, between housing price and the time-on-the-market (TOM), and the existence of price dispersion. This short paper provides perhaps the first unifying framework...

Assuming that consumers value both the absolute and relative quality of play, I compare the choice of ticket prices, team qualities, and number of games played in a noncooperative outcome versus that chosen by a social planner. I find that the nature of consumer preferences regarding the quality...