According to the theory of efficient markets, economic agents use all available information to form rational expectations. Fiscal marksmanship, the accuracy of budgetary forecasting, can be one important piece of such information the rational agents must consider in forming expectations. Using...

We review the recent performance of the Euro area economy, focusing in detail on the separate roles played by labour input, capital input, and total factor productivity (TFP). After a long period of catching up with US levels of labour productivity, Euro area productivity growth has, since the...

In this paper we focus on the development of multiple time series models for forecasting Irish Inflation. The Bayesian approach to the estimation of vector autoregressive (VAR) models is employed. This allows the estimated models combine the evidence in the data with any prior information which...

In this paper we propose an improvement of the Kolmogorov-Smirnov test for normality. In the current implementation of the Kolmogorov-Smirnov test, a sample is compared with a normal distribution where the sample mean and the sample variance are used as parameters of the distribution. We propose...

This paper estimates the effect of a candidate’s incumbency status on his or her chances of winning using a large dataset on state legislative elections in India during 1975-2003. I use an innovative research design, called Regression Discontinuity Design (RDD), that provides unbiased estimate...

This paper addresses the question how knowledge is used to benefit the economic development of Singapore and Malaysia. Both countries have followed strict science policies to establish knowledge governance regimes for a knowledge-based economy. On the basis of empirical studies in both countries...

Recently, companies start realizing the necessity to equip their mobile workforce with a mobile solution. But this is not enough to integrate the mobile workforce into the business process. Therefore it is necessary to find for each mobile employee a mobile solution that supports his/her whole...

This scientific work is devoted to the analysis of limits of state interference in economy and as criteria of its efficiency the growth of national welfare is determined. It is reported that strong interconnection between efficiency of state management and level of national competitiveness...

In the wake of the terrorist attacks on New York City and Washington, D.C., emergency measures were taken to tighten security at air and seaports as well as land border crossings. Some disruption of trade flows during the immediate aftermath of the attacks seemed almost inevitable, yet...

Almost a decade after their initiation, financial reforms appear to have had little effect on the economies of Sub-Sahara Africa. Whether the blame is to fall on their initial design itself, or on the partial nature of their implementation, liberalization policies have not mobilized savings,...