This paper analyzes a household’s leisure expenditure by exploring data on Korean urban households and provides policy implications. Among the major findings from quantitative analyses are the significant correlations between leisure consumption and disposable income, and between leisure...

Economic development in Japan prior to World War II involved the expansion of labor intensive manufacturing industries that employed a large proportion of women. This was accompanied by the growth in vocational education for women as well as for men. Was the growth in vocational education,...

Τhe emergence of the neo-liberal doctrine in the European Union (EU), as this is reflected by the prevalence of monetarism and market deregulation, has spawned a wave of criticism to be leveled at the way national macroeconomic policies have been conducted, with more emphasis on the...

We present evidence that consumer sentiment has a direct effect on excess aggregate stock returns. We also trace the source of this positive effect and find that public perception over the next year’s economic condition is the most important determinant for the stock market. Our findings...

This paper identifies the output gap using the theoretical definition of the gap within a Phillips curve in the spirit of the New Keynesian framework. Using Peruvian data for the period 1980:1-2005:4, the results indicate a very flat slope of the Phillips curve but the output gap is large and...

The red meat sector is vital to Australian agriculture. It is a large contributor to the value of agricultural production and exports and also accounts for a significant proportion of rural and regional employment. Developments in the red meat sector also affect other industries, both upstream...