This paper extends the Dornbusch model of overshooting exchange rates to discuss both exchange rate and output effects of capital controls that involve additional costs for international asset transactions. We show that, on the one hand, such capital controls have the merit of reducing the...

The paper studies a flowshop scheduling problem where machines are not available in given time intervals. The objective is to minimize the makespan. The problem is known to be NP-hard for two machines. We analyze constructive and local search based heuristic algorithms for the two-machine case....

This paper uses a structural vector autoregression to examine differences in demand and supply shocks and the response to these shocks between EMU member countries and three other groups of countries. The first group includes non-EMU EU countries, the second group EFTA countries and the third...