As per the conventional wisdom there should be provision for public assistance for skill acquirement for achieving higher economic growth in the future. However, empirical observations on small OECD countries over the period 2001-2011 tell somewhat a different story. This study makes an attempt...

As per the conventional wisdom there should be provision for public assistance for skills acquirement for improving relative wage inequality in the future. Empirical observations on some prominent small OECD countries, however, indicate that the relationship between wage inequality and public...

The paper addresses the question of whether developing countries possess any built-in mechanism that can cope with external terms-of-trade (TOT) shocks. Using a two-sector, full-employment general equilibrium model with endogenous labor market distortion theoretically it shows that such...