The paper analyzes the link between old-age income programs and economic outcomes in Belgium. We use a simulation methodology to construct an average pension generosity variable. Our regression analysis explores the link with distributional outcomes in income, consumption and more subjective...

The effect of the performance of the judicial system has been thrown into the limelight as the business sector has in various surveys pointed to its performance as being one of the main obstacles and disincentives to doing business in the Philippines. The channels through which judicial...

An estimated 9 million Filipinos, about 10% of the population, now reside abroad as permanent immigrants in advanced economies and as temporary migrant workers. The permanent immigrants who are mostly in the US, Australia and Canada comprise about 45% of the total. The migrant workers are...

This study updates earlier estimates of the sensitivity of regional investment flows in the Philippines to fiscal incentives - income tax holidays and other fiscal inducements provided by government. All other factors held constant, the strength and significance of the investment-inducing effect...

The implications of labor migration and remittances on poverty are becoming a global issue. The Philippines is considered as one of the largest labor-sending countries in the world. There are numerous studies on remittances and migration and how they contribute to poverty reduction. However, the...

Using daily Bundesbank foreign exchange market intervention data, we employ a multinomial logit approach to estimate an intervention reaction function for the German Central Bank using options implied volatilities and the deviation of the exchange rate from its target level as explanatory...

Labour market flexibility is the key to sustainable economic development in advanced economies. The factor price frontier is used to analyse labour market adjustment in Ireland from the sixties to the present. The theoretical and empirical analysis lend support to the wideheld belief that...

This paper presents error correction estimates of a simple interdependent model of the labour market using monthly data over 1990-1994 for the industrial sector in Poland and Hungary. The aim is to investigate three issues in the performance of labour markets during transition. First, is there a...

In this paper I test the hypothesis that trade policies leading to higher prices for capital goods have a negative influence on the steady state level and transitional growth rate of per capita GDP. I derive this hypothesis from a modified version of a Solow-Swan model, in which capital variety...