We study international inter-bank spreads within a no‐arbitrage dynamic term structure model and attempt to disentangle time‐varying risk premia in the inter-bank market for major currencies. Our results suggest that, at the peak of financial crisis, the inter-bank spread was clearly driven...

We assess whether national security policies influence tourism exports by using a difference-in-differences approach to evaluate the effect of Executive Order 13769 in January 2017 on visitor arrivals from the Middle East. We find that the volume of visitor arrivals from the Middle East declined...

This paper dwells on the Eurozone woes and addresses the origins of the transition from a fictitious boom to a painful bust by unravelling (i) the supply-side structural imbalances that formed the core-periphery economic divide, and (ii) the necessity of the periphery's sovereign debt to finance...

This paper holistically addresses the effective (relative) income tax contribution of a given income (or, wealth) group. The widely acclaimed standard in public policy is the absolute benefaction of a given income group in filling up the fiscal coffers. Instead, we focus on the ratio of the...

This paper holistically addresses the effective (relative) income tax contribution of a given in-come (or, wealth) group. The widely acclaimed standard in public policy is the absolute benefaction of a given income group in filling up the fiscal coffers. Instead, we focus on the ratio of the...

In this paper we aim to trace the roots of the ongoing economic mayhem and to unmask the chorus of the tragedy which plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of perfect competition, the global fields of the dysfunctional...