Economic Modelling

1984 - 2025

Current editor(s): S. Hall and P. Pauly

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Volume 28, issue 6, 2011

Short- and long-term impact of remarkable economic events on the growth causes of China–Germany trade in agri-food products pp. 2359-2368

Zhichao Guo, Yuanhua Feng and Xiangyong Tan

Investigating regional house price convergence in the United States: Evidence from a pair-wise approach pp. 2369-2376

Mark Holmes, Jesus Otero and Theodore Panagiotidis

Testing for serial correlation and random effects in a two-way error component regression model pp. 2377-2386

Jianhong Wu and Lixing Zhu

Investment choices: Indivisible non-marketable assets and suboptimal solutions pp. 2387-2394

Pierpaolo Pattitoni and Marco Savioli

Sensitive products in the Doha negotiations: The case of European and Japanese market access pp. 2395-2403

Christophe Gouel, Cristina Mitaritonna and Maria Ramos

Regime-switching effects of debt on real GDP per capita the case of Latin American and Caribbean countries pp. 2404-2408

Tsangyao Chang and Gengnan Chiang

Remittances for economic development: The investment perspective pp. 2409-2415

Thanh Le

Military expenditure and economic growth across different groups: A dynamic panel Granger-causality approach pp. 2416-2423

Hsin-Chen Chang, Bwo-Nung Huang and Chin Wei Yang

Application of factor models for the identification of countries sharing international reference-cycles pp. 2424-2431

de Lucas Santos Sonia, María Jesús Delgado Rodríguez and Inmaculada Álvarez

Timeless perspective versus discretionary policymaking when the degree of inflation persistence is unknown pp. 2432-2438

Juan Paez-Farrell

The empirical validity of the New Keynesian Phillips curve using survey forecasts of inflation pp. 2439-2450

Sandeep Mazumder

Assessing the effects of financial heterogeneity in a monetary union a DSGE approach pp. 2451-2461

Cristina Badarau and Grégory Levieuge

Output gap measurement and the New Keynesian Phillips curve for China pp. 2462-2468

Chengsi Zhang and Yasutomo Murasawa

The Zero-Inflated ordered probit approach to modelling sports participation pp. 2469-2477

Paul Downward, Fernando Lera-Lopez and Simona Rasciute

Pension and child care policies with endogenous fertility pp. 2478-2482

Masaya Yasuoka and Naohisa Goto

Regret theory and the banking firm: The optimal bank interest margin pp. 2483-2487

Kit Pong Wong

Bootstrapping asset price bubbles pp. 2488-2493

Luciano Gutierrez

Job-search and foreign capital inflow — A two sector general equilibrium analysis pp. 2494-2501

Titas Bandopadhyay and Sarbajit Chaudhuri

Unions, government's preference, and privatization pp. 2502-2508

Kangsik Choi

Calibrating spatial models of trade pp. 2509-2516

Quirino Paris, Sophie Drogué and Giovanni Anania

How strong is the global integration of emerging market regions? An empirical assessment pp. 2517-2527

Khaled Guesmi and Duc Khuong Nguyen

Endogenous fluctuations induced by nonlinear pollution accumulation in an OLG economy and the bifurcation control pp. 2528-2531

Dong Cao, Lin Wang and Yaozhong Wang

Asset price volatility and government revenue pp. 2532-2543

Athanasios Tagkalakis

Fiscal institutions and public spending volatility in Europe pp. 2544-2559

Bruno Albuquerque

How globally contagious was the recent US real estate market crisis? Evidence based on a new contagion test pp. 2560-2565

Abdulnasser Hatemi-J and Eduardo Roca

On the median regression for SURE models with applications to 3-generation immigrants data in Sweden pp. 2566-2578

Ghazi Shukur and Zangin Zeebari

Productivity growth decomposition with FE-IV approach: Rethinking Thai commercial banks after the financial crisis pp. 2579-2588

Poomthan Rangkakulnuwat and H. Holly Wang

Modelling aggregate personal income tax revenue in multi-schedular and multi-regional structures pp. 2589-2595

John Creedy and José Félix Sanz-Sanz

Corruption in a model of vertical linkage between formal and informal credit sources and credit subsidy policy pp. 2596-2599

Sarbajit Chaudhuri and Krishnendu Dastidar

Remittances flow and financial development in Bangladesh pp. 2600-2608

Mamta Chowdhury

Financial market imperfections and monetary policy strategy pp. 2609-2621

Meixing Dai

Sources of exchange rate fluctuations with Taylor rule fundamentals pp. 2622-2627

Bernd Kempa and Wolfram Wilde

A note on quantitative trade restrictions, income effects and wage inequality pp. 2628-2633

Rajat Acharyya

Evaluating the carbon-macroeconomy relationship: Evidence from threshold vector error-correction and Markov-switching VAR models pp. 2634-2656

Julien Chevallier

Fiscal consolidation with high growth: A policy simulation model for India pp. 2657-2668

Sudipto Mundle, N R Bhanumurthy and Surajit Das

Research & development and growth: A Bayesian model averaging analysis pp. 2669-2673

Roman Horvath

Sector-specific productivity shocks in a matching model pp. 2674-2682

Dennis Wesselbaum

Ex-ante evaluation of a targeted job program: Hypothetical integration in a social accounting matrix of South Africa pp. 2683-2690

Kijong Kim

Not-quite-great depressions of Turkey: A quantitative analysis of economic growth over 1968–2004 pp. 2691-2700

Deniz Çiçek and Ceyhun Elgin

On the feasibility of monetary union: Does it make sense to look for shocks symmetry across countries when none of the countries constitutes an optimum currency area? pp. 2701-2718

Rosmy Jean Louis, Ryan Brown and Faruk Balli

Credit rationing, interest rates and capital accumulation pp. 2719-2729

Mahmoud Nabi and Mohamed Osman Suliman

Cost performance of Brazilian soccer clubs: A Bayesian varying efficiency distribution model pp. 2730-2735

Carlos Barros, A.George Assaf and Ari Francisco de Araujo

MNEs and wages: The role of productivity spillovers and imperfect labor markets pp. 2736-2742

Bahar Bayraktar Saglam and Selin Sayek

Stochastic evolutionary selection in finite populations pp. 2743-2747

Yanfang Zhang, Shue Mei and Weijun Zhong

How does financial development influence the impact of remittances on growth volatility? pp. 2748-2760

Ibrahim Ahamada and Dramane Coulibaly

Optimal versus realized policy rules in a regime-switching framework pp. 2761-2775

Sophie Pardo, Nicolas Rautureau and Thomas Vallee

The top-dog and the lean and hungry look strategies in endogenous entry pp. 2776-2782

Sususmu Cato and Ryoko Oki

Carbon motivated regional trade arrangements: Analytics and simulations pp. 2783-2792

Yan Dong and John Whalley

The effects of environmental taxes and quotas on the optimal timing of emission reductions under Choquet–Brownian uncertainty pp. 2793-2802

Elettra Agliardi and Luigi Sereno

Carbon sequestration and permit trading on the competitive fringe pp. 2803-2810

Arthur Caplan

Imports and growth in China pp. 2811-2819

M.J. Herrerias and Vicente Orts

Structural models, information and inherited restrictions pp. 2820-2831

George M. Lady and Andrew Buck

An investigation of issues relating to where energy should enter the production function pp. 2832-2841

Patrizio Lecca, Kim Swales and Karen Turner

Poverty growth in Scandinavian countries: A Sen multi-decomposition pp. 2842-2853

Stéphane Mussard and Maria Pi Alperin

Environmental resilience and economic growth: Command economy's optimization and environmental Kuznets curve pp. 2854-2861

Yi-Chia Wang and Yih-chyi Chuang

LSM: A DSGE model for Luxembourg pp. 2862-2872

Szabolcs Deak, Lionel Fontagné, Marco Maffezzoli and Massimiliano Marcellino

R&D games in a Cournot duopoly with isoelastic demand functions: A comment pp. 2873-2876

Shravan Luckraz

Volume 28, issue 5, 2011

Modeling life expectancy in Turkey pp. 2075-2082

Ferda Halicioglu

Technical efficiency in the Chinese banking sector pp. 2083-2089

Carlos Barros, Zhongfei Chen, Qi Bin Liang and Nicolas Peypoch

Franchise fee, competition and economic growth pp. 2090-2099

Vey Wang and Chung-Hui Lai

Demographic trends and international capital flows in an integrated world pp. 2100-2120

Luca Marchiori

Privatization, water access and affordability: Evidence from Malaysian household expenditure data pp. 2121-2128

Cassey Lee

Stabilizing an unstable economy: Fiscal and monetary policy, stocks, and the term structure of interest rates pp. 2129-2136

Matthieu Charpe, Peter Flaschel, Florian Hartmann and Christian Proaño

Operational risk as a function of the state of the economy pp. 2137-2142

Imad Moosa

A lattice approach for pricing convertible bond asset swaps with market risk and counterparty risk pp. 2143-2153

Ruxing Xu

The impact of third-country effects and economic integration on China's outward FDI pp. 2154-2163

Kuang-Hann Chou, Chien-Hsun Chen and Chao-Cheng Mai

The macrodynamics of financial fragility within a hard peg arrangement pp. 2164-2173

Eleonora Cavallaro, Bernardo Maggi and Marcella Mulino

Entrepreneurship, windfall gains and financial constraints: Evidence from Germany pp. 2174-2180

Dorothea Schäfer, Oleksandr Talavera and Charlie Weir

Counterparty effects on capital structure decision in incomplete market pp. 2181-2189

Chang-Chih Chen, So-De Shyu and Chih-Yuan Yang

Psychological determinants of occurrence and magnitude of market crashes pp. 2190-2196

Patrick Leoni

Selected MENA countries' attractiveness to G7 investors pp. 2197-2207

Fathi Abid and Slah Bahloul

Hysteresis in unemployment for 17 OECD countries: Stationary test with a Fourier function pp. 2208-2214

Tsangyao Chang

New models of trader beliefs and their application for explaining financial bubbles pp. 2215-2227

Zhiping Chen and Qihong Duan

Trade openness and the informational efficiency of emerging stock markets pp. 2228-2238

Kian-Ping Lim and Jae Kim

Producer price adjustment to commodity price shocks: An application of threshold cointegration pp. 2239-2246

Julie Subervie

The optimal bid/ask spread in a Specialist System pp. 2247-2253

Rosella Castellano and Roy Cerqueti

Costly investment, complementarities and the skill premium pp. 2254-2262

Oscar Afonso and Maria Thompson

The relationship banking paradox: No pain no gain versus raison d'être pp. 2263-2270

Baomin Dong and Guixia Guo

External monetary shocks and monetary integration: Evidence from the Bulgarian currency board pp. 2271-2281

Alexandru Minea and Christophe Rault

Optimal tax progressivity in unionised labour markets: What are the driving forces? pp. 2282-2295

Stefan Boeters

Income insurance and the determinants of income insurance via foreign asset revenues and foreign liability payments pp. 2296-2306

Faruk Balli, Syed Abul Basher and Hatice Balli

UK macroeconomic forecasting with many predictors: Which models forecast best and when do they do so? pp. 2307-2318

Gary Koop and Dimitris Korobilis

Taxation of early retirement windows and delaying retirement: The French experience pp. 2319-2341

Pierre-Jean Messe

The effects of the subprime crisis on the Latin American financial markets: An empirical assessment pp. 2342-2357

Gilles Dufrénot, Valérie Mignon and Anne Péguin-Feissolle

Volume 28, issue 4, 2011

Current account deficits and sustainability: Evidence from the OECD countries pp. 1455-1464

Shyh-Wei Chen

Mixed oligopoly, optimal privatization, and foreign penetration pp. 1465-1470

Leonard F.S. Wang and Tai-Liang Chen

An analysis of the demand for skill in a growing economy pp. 1471-1474

Hamid Beladi, Sugata Marjit and Kenneth Weiher

A Poisson ridge regression estimator pp. 1475-1481

Kristofer Månsson and Ghazi Shukur

Central banks and their banknote series: The efficiency-cost trade-off pp. 1482-1488

Yassine Bouhdaoui, D. Bounie and L. Van Hove

Investment horizon effect on asset allocation between value and growth strategies pp. 1489-1497

Francis In, Sangbae Kim and Ramazan Gencay

Financial integration and the construction of historical financial data for the Euro Area pp. 1498-1509

Heather Anderson, Mardi Dungey, Denise Osborn and Farshid Vahid

Nonlinear exchange rate dynamics under stochastic official intervention pp. 1510-1518

Hsiu-Yun Lee

Keeping up with the Joneses, consumer ethnocentrism, and optimal taxation pp. 1519-1525

Chia-ying Liu and Juin-jen Chang

ERM crisis in retrospect: What if a European central bank had been in existence before 1992? pp. 1526-1535

Kuo-chun Yeh and Tai-kuang Ho

Health care expenditure and economic growth: Quantile panel-type analysis pp. 1536-1549

Kuan Min Wang

Policy assessment of an EU wide flat area CAP payments system pp. 1550-1558

Emil Erjavec, Frédéric Chantreuil, Kevin Hanrahan, Trevor Donnellan, Guna Salputra, Maja Kozar and Myrna van Leeuwen

Precautionary saving or denied dissaving pp. 1559-1572

James Feigenbaum

Gold dinar for the Islamic countries? pp. 1573-1586

Grace Lee

The game analyses to price the target enterprise of merger and acquisition based on the perspective of real options under stochastic surroundings pp. 1587-1594

Jing Yu and Bin Xu

Domestic trade protection in vertically-related markets pp. 1595-1603

Kuang-Cheng A. Wang, Hui-Wen Koo and Tain-Jy Chen

Optimal trade policy in tariff games with inside money pp. 1604-1614

Jun Yu and Shunming Zhang

External shocks and persistence of external debt in open vulnerable economies: The case of Africa pp. 1615-1628

Stella Muhanji and Kalu Ojah

Boosting confidence: Is there a role for fiscal policy? pp. 1629-1641

Panagiotis Konstantinou and Athanasios Tagkalakis

Income and consumption smoothing and welfare gains across Pacific Island Countries: The role of remittances and foreign aid pp. 1642-1649

Faruk Balli and Hatice Balli

Supply-side effects of exchange rates, exchange rate expectations and induced currency depreciation pp. 1650-1672

Syed Ali and Sajid Anwar

Undiscounted optimal growth with consumable capital and labor-intensive consumption goods pp. 1673-1682

Sherif Khalifa

Growth effects of environmental policy when pollution affects health pp. 1683-1695

Marta Aloi and Frederic Tournemaine

Policy analysis in real time using IMF's monetary model pp. 1696-1709

Qaisar Akram

Location choice under trade and environmental policies pp. 1710-1715

Sule Celik and Benan Orbay

Does crude oil move stock markets in Europe? A sector investigation pp. 1716-1725

Mohamed Arouri

Accounting for the impact of higher order moments in foreign equity option pricing model pp. 1726-1729

Weidong Xu, Chongfeng Wu and Hongyi Li

Estimating monetary policy reaction functions for emerging market economies: The case of Brazil pp. 1730-1738

José R. Sánchez-Fung

Now, whose schools are really better (or weaker) than Germany's? A multiple testing approach pp. 1739-1746

Christoph Hanck

Exploring the effects of aggregation error in the estimation of consumer demand elasticities pp. 1747-1755

Frank T. Denton and Dean C. Mountain

Insider trading with public and shared information pp. 1756-1762

Hong Liu and Zhixiang Zhang

Real-time data revisions and the PCE measure of inflation pp. 1763-1773

Heather Tierney

Location choice with delegation: Bertrand vs. Cournot competition pp. 1774-1781

Wen-Jung Liang, Ching-Chih Tseng and Kuang-Cheng Andy Wang

Testing the bounds: Empirical behavior of target zone fundamentals pp. 1782-1792

J. Miller

Nutritional efficiency wages and child labor pp. 1793-1801

Kristian Estevez

Inflation aversion and macroeconomic policy in a perfect foresight monetary model pp. 1802-1807

Gaowang Wang and Heng-Fu Zou

Has the economic crisis of 2007-2009 changed the expectation formation process in the Euro area? pp. 1808-1814

Michael Frenkel, Eliza M. Lis and Jan-Christoph Rülke

Return and volatility transmission between world oil prices and stock markets of the GCC countries pp. 1815-1825

Mohamed Arouri, Amine Lahiani and Duc Khuong Nguyen

Regional and sectoral dynamics of the Dutch staffing labor cycle pp. 1826-1837

Ard Reijer

Efficiency in a search and matching model with training costs pp. 1838-1841

Hiroaki Miyamoto

The reliability of real-time estimates of the euro area output gap pp. 1842-1856

Massimiliano Marcellino and Alberto Musso

Foreign equity option pricing under stochastic volatility model with double jumps pp. 1857-1863

Weidong Xu, Chongfeng Wu and Hongyi Li

On a master-slave Bertrand game model pp. 1864-1870

Baogui Xin and Tong Chen

What are the effects of fiscal policy on asset markets? pp. 1871-1890

Antonio Afonso and Ricardo Sousa

Competition among banks and the pass-through of monetary policy pp. 1891-1901

Jochen Güntner

Capital mobility, skill formation and polarization pp. 1902-1906

Hamid Beladi, Sugata Marjit and Udo Broll

Assessing the potential impact of Microfinance with agent-based modeling pp. 1907-1913

Salim Rashid, Youngeun Yoon and Shakil Bin Kashem

International policy coordination mechanism with respect to the moral hazards of financial intermediaries pp. 1914-1922

Young-Han Kim

Labor market reform and incidence of child labor in a developing economy pp. 1923-1930

Sarbajit Chaudhuri

Unemployment equilibrium and economic policy in mixed markets pp. 1931-1940

Ludovic Julien

Regime-shifts and post-float inflation dynamics of Australia pp. 1941-1949

Neil Dias Karunaratne and Ramprasad Bhar

Dynamic modelling of agricultural policies: The role of expectation schemes pp. 1950-1958

Fabienne Femenia and Alexandre Gohin

Mean-reversion in international real interest rates pp. 1959-1966

Jae Kim and Philip Inyeob Ji

Sectoral structure, heterogeneous plants, and international trade pp. 1967-1976

Charles B. Braymen

Skilled-unskilled wage inequality and unemployment: A general equilibrium analysis pp. 1977-1983

Manash Gupta and Priya Dutta

Labor or consumption taxes? An application with a dynamic general equilibrium model with heterogeneous agents pp. 1984-1992

Markku Lehmus

Estimation of Armington elasticities in a CGE economy-energy-environment model for Europe pp. 1993-1999

Gabriella Németh, László Szabó and Juan-Carlos Ciscar

Distance measures between free trade and autarky for the world economy pp. 2000-2012

Raymond Riezman, John Whalley and Shunming Zhang

Forecasting the US real house price index: Structural and non-structural models with and without fundamentals pp. 2013-2021

Rangan Gupta, Alain Kabundi and Stephen Miller

New Keynesian Phillips Curve and inflation dynamics in Australia pp. 2022-2033

Syed Abbas and Pasquale M. Sgro

Beggar-thyself or beggar-thy-neighbour? The welfare effects of monetary policy pp. 2034-2040

Philipp Engler and Juha Tervala

Currency equivalent monetary aggregates as leading indicators of inflation pp. 2041-2048

Sunil Paul and M Ramachandran

A study on the role of guanxi in entrepreneurship and employment pp. 2049-2053

Yao-Tung Chen

A structural dynamic microsimulation model of household savings and labour supply pp. 2054-2070

Justin van de Ven

Sustainable growth in a model with dual-rate discounting pp. 2071-2074

Kirill Borissov and Kirill Shakhnov

Volume 28, issue 3, 2011

Semiparametric EGARCH model with the case study of China stock market pp. 761-766

Hu Yang and Xingcui Wu

On the links between unemployment rate, monetary creation and the value-added sharing pp. 767-774

Stéphane Mussard and Bernard Philippe

Directional measurement of technical efficiency of production: An axiomatic approach pp. 775-781

Walter Briec, Laurent Cavaignac and Kristiaan Kerstens

Global stability of dynamic models pp. 782-784

Wojciech Grabowski and Aleksander Welfe

Social status, human capital formation and super-neutrality in a two-sector monetary economy pp. 785-794

Hung-Ju Chen

Globalization and growth in the low income African countries with the extreme bounds analysis pp. 795-805

B. Rao and Krishna Chaitanya Vadlamannati

Time and place where gold acts as an inflation hedge: An application of long-run and short-run threshold model pp. 806-819

Kuan Min Wang, Yuan-Ming Lee and Thanh-Binh Nguyen Thi

Informal sector, income inequality and economic development pp. 820-830

Prabir C. Bhattacharya

Indeterminacy, underground activities and tax evasion pp. 831-844

Francesco Busato, Bruno Chiarini and Enrico Marchetti

Non-linear causality between the stock and real estate markets of Western European countries: Evidence from rank tests pp. 845-851

Chi-Wei Su

A waste management model for optimal recycling-landfilling policies under macroeconomic conditions pp. 852-858

Chang-Chih Chen, So-De Shyu, Yen-Chun Wu and Chih-Yuan Yang

The vanishing role of money in the macro-economy: An empirical investigation for India pp. 859-869

D.M. Nachane and Amlendu Kumar Dubey

Testing for Granger causality in heterogeneous mixed panels pp. 870-876

Furkan Emirmahmutoglu and Nezir Kose

What happened to the transatlantic capital market relations? pp. 877-884

Enzo Weber

The tax-spending nexus: Evidence from a panel of US state-local governments pp. 885-890

Joakim Westerlund, Saeid Mahdavi and Fathali Firoozi

An in-sample and out-of-sample empirical investigation of the nonlinearity in house prices of South Africa pp. 891-899

Mehmet Balcilar, Rangan Gupta and Zahra B. Shah

Does democracy facilitate economic growth or does economic growth facilitate democracy? An empirical study of Sub-Saharan Africa pp. 900-910

Paresh Narayan, Seema Narayan and Russell Smyth

The nonlinear effects of expected and unexpected components of monetary policy on the dynamics of REIT returns pp. 911-920

Kuang-Liang Chang

Can GARCH-class models capture long memory in WTI crude oil markets? pp. 921-927

Yudong Wang, Chongfeng Wu and Y Wei

The role of the government in financial sector development pp. 928-938

Arusha Cooray

The Feldstein-Horioka puzzle in African countries: A panel cointegration analysis pp. 939-947

Chrysost Bangaké and Jude Eggoh

Dynamic persistence in the unemployment rate of OECD countries pp. 948-954

Jack Fosten and Atanu Ghoshray

A pair-wise approach to output convergence between European regions pp. 955-964

Yannick Le Pen

Macroeconomic relevance of credit channels: Evidence from an emerging economy under inflation targeting pp. 965-979

Matias Auel and Helder de Mendonça

Information disclosure, banking development and knowledge-driven growth pp. 980-990

Diego Romero-Ávila

The macro-economic impact of changing the rate of corporation tax pp. 991-999

Thomas Conefrey and John D. Fitz Gerald

Testing for adjustment costs and regime shifts in BRENT crude futures market pp. 1000-1008

Emmanuel Mamatzakis and P. Remoundos

Is big better? On scale and scope economies in the Portuguese water sector pp. 1009-1016

Rc Marques and Kristof De Witte

Models of trust-sharing in Chinese private enterprises pp. 1017-1029

Zhong Qin

Economic and environmental impacts of trade liberalization: The case of Indonesia pp. 1030-1041

Howard Gumilang, Kakali Mukhopadhyay and Paul J. Thomassin

Competition policy and market leaders pp. 1042-1049

Kresimir Zigic and Ilir Maçi

A new approach to capital flows: Theory and evidence pp. 1050-1057

Xinhua Gu and Bihong Huang

Labor market rigidity and productivity growth in a model of innovation-driven growth pp. 1058-1067

Carmelo Parello

Optimal military spending in the US: A time series analysis pp. 1068-1077

Giorgio d'Agostino, John Dunne and Luca Pieroni

Do foreigners replace native immigrants? A panel cointegration analysis of internal migration in Italy pp. 1078-1089

Herbert Brücker, Stefano Fachin and Alessandra Venturini

Efficiency of two sided investments in an equilibrium unemployment framework pp. 1090-1098

Lucas Navarro

Exploring the big jump in the Spanish unemployment rate: Evidence on an 'added-worker' effect pp. 1099-1105

Emilio Congregado, Antonio Golpe and André van Stel

Modeling volatility with time-varying FIGARCH models pp. 1106-1116

Mustapha Belkhouja and Mohamed Boutahary

Empirical analysis of jump dynamics, heavy-tails and skewness on value-at-risk estimation pp. 1117-1130

Jung-Bin Su and Jui-Cheng Hung

Efficiency frontier and matching process on the labour market: Evidence from Tunisia pp. 1131-1139

Anis Bou Abid and Imed Drine

Unions, monetary shocks and the labour market cycle pp. 1140-1149

Gonzalo Fernandez-de-Cordoba and Jesús Vázquez

Non-parametric and semi-parametric asset pricing pp. 1150-1162

Peter Erdos, Mihály Ormos and Dávid Zibriczky

A factor-augmented VAR approach: The effect of a rise in the US personal income tax rate on the US and Canada pp. 1163-1169

Gianluca Lagana and Pasquale Michael Sgro

Investigating the distribution of personal income obtained from the recent U.S. data pp. 1170-1173

Michael Newby, Adam Behr and Mitra Shojania Feizabadi

Nonlinear interest rate reaction functions for the UK pp. 1174-1185

Ralf Brüggemann and Jana Riedel

Licensing to a durable-good duopoly in patent litigation pp. 1186-1194

Minggao Xue and Lili Su

Convergence of numerical solutions for a class of stochastic age-dependent capital system with Markovian switching pp. 1195-1201

Zhang Qi-min

Testing convergence of European regions: A semiparametric approach pp. 1202-1210

Théophile T. Azomahou, Jalal El ouardighi, Phu Nguyen-Van and Thi Kim Cuong Pham

Equilibrium locations in a mixed duopoly with sequential entry in real time pp. 1211-1218

Changying Li and Jianhu Zhang

Productivity and per capita GDP growth: The role of the forgotten factors pp. 1219-1225

Luigi Marattin and Simone Salotti

Testing for a unit root with covariates against nonlinear alternatives pp. 1226-1234

Ching-Chuan Tsong

The contribution of domestic, regional and international factors to Latin America's business cycle pp. 1235-1246

Melisso Boschi and Alessandro Girardi

Income distribution, efficiency and rationing pp. 1247-1255

Ensar YIlmaz

Competition under manufacturer service and retail price pp. 1256-1264

Jye-Chyi Lu, Yu-Chung Tsao and Chayakrit Charoensiriwath

Robust control and central banking behaviour pp. 1265-1278

Myriam García Olalla and Alejandro Ruiz Gómez

Purchasing power parity and the long memory properties of real exchange rates: Does one size fit all? pp. 1279-1290

Marcel Aloy, Mohamed Boutahar, Karine Gente and Anne Péguin-Feissolle

Industry structure and labor market flexibility in the South African manufacturing sector: A time series and panel data approach pp. 1291-1302

Johannes Fedderke and Andrew J. Hill

A two-pillar DSGE monetary policy model for the euro area pp. 1303-1316

Jean Barthélemy, Laurent Clerc and Magali Marx

Reservation wages, market wages and unemployment: Analysis of individual level panel data pp. 1317-1327

Sarah Brown and Karl Taylor

The impact of interest rate and exchange rate volatility on banks' stock returns and volatility: Evidence from Turkey pp. 1328-1334

Saadet Kasman, Gülin Vardar and Gökçe Tunç

Can productive government spending be a source of equilibrium indeterminacy? pp. 1335-1340

Akira Kamiguchi and Toshiki Tamai

The impact of trade costs on exports: An empirical modeling pp. 1341-1347

Imran Ullah Khan and Kaliappa Kalirajan

Foreign direct investment and China's regional income inequality pp. 1348-1353

Kang Yu, Xian Xin, Ping Guo and Xiaoyun Liu

Global and local determinacy in a one-step forward looking New Keynesian model pp. 1354-1362

Alessandra Cornaro and Anna Agliari

Is foreign trade important for regional growth? Empirical evidence from Portugal pp. 1363-1373

Elias Soukiazis and Micaela Antunes

On the permanent effect of an aggregate demand shock: Evidence from the G-7 countries pp. 1374-1382

Omar Bashar

Long-run purchasing power parity with asymmetric adjustment: Further evidence from nine transition countries pp. 1383-1391

Tsangyao Chang and Han-Wen Tzeng

A general equilibrium open economy model for emerging markets: Monetary policy with a dualistic labor market pp. 1392-1404

Ashima Goyal

Econometric analyses with backdated data: Unified Germany and the euro area pp. 1405-1414

Elena Angelini and Massimiliano Marcellino

Household lending, interest rates and housing price bubbles in Korea: Regime switching model and Kalman filter approach pp. 1415-1423

Bong-Han Kim and Hong-Ghi Min

Inflation targeting in Latin America: Empirical analysis using GARCH models pp. 1424-1434

Carmen Broto

Economic recession, skilled unemployment and welfare pp. 1435-1440

Sarbajit Chaudhuri

Competitive manufacturing with fluctuating demand and diverse technology: Mathematical proofs and illuminations on industry output-flexibility pp. 1441-1450

Gerald Aranoff

An alternative solution to the Autoregressivity Paradox in time series analysis pp. 1451-1454

Gianluca Cubadda and Umberto Triacca

Volume 28, issue 1-2, 2011

Inside the black box: How important is the credit channel relative to the interest and exchange rate channels? pp. 1-12

Iris Claus

Equilibrium conditions in corporate tax competition and Foreign Direct Investment flows pp. 13-21

Dimitrios Hristu-Varsakelis, Stella Karagianni and Anastasios Saraidaris

Testing the hypothesis of the natural suicide rates: Further evidence from OECD data pp. 22-26

Antonio Andres and Ferda Halicioglu

Testing the martingale difference hypothesis in CO2 emission allowances pp. 27-35

Amelie Charles, Olivier Darné and Jessica Fouilloux

Parameter estimation of an asset price model driven by a weak hidden Markov chain pp. 36-46

Xiaojing Xi and Rogemar Mamon

How does bargaining power affect remittances? pp. 47-54

Rosa Aisa, Joaquin Andaluz and Gemma Larramona

Home bias and the persistence of real exchange rates pp. 55-59

Show-Lin Chen and Jyh-Lin Wu

Manipulable behavior in international trade pp. 60-66

Ning Sun and Hongxin Yao

Uncertainty in the public debt market and stochastic long-run growth pp. 67-73

Panagiotis Tsintzos and Theologos Dergiades

Existence and stability of overconsumption equilibria pp. 74-90

Gregory Ponthiere

Inflation and financial development: Evidence from Brazil pp. 91-99

Manoel Bittencourt

Progressive taxation and the intensity and timing of investment pp. 100-108

Kit Pong Wong

On the existence and uniqueness of solution to the Lucas-Uzawa model pp. 109-117

Constantin Chilarescu

A macroeconometric framework for monetary policy evaluation: A case study of Pakistan pp. 118-137

Rubina Hassan and Muhammad Shahzad Mirza

Banking distress in MENA countries and the role of mergers as a strategic policy to resolve distress pp. 138-146

Jean-Michel Sahut and Mehdi Mili

Quantile hedging for equity-linked life insurance contracts in a stochastic interest rate economy pp. 147-156

Quansheng Gao, Ting He and Chi Zhang

A New Keynesian SVAR model of the Australian economy pp. 157-168

Shawn Leu

An analysis of health expenditure on a microdata population basis pp. 169-180

Ana Angulo, Ramón Barberán, Pilar Egea and Jesus Mur

Duplication externalities in an endogenous growth model with physical capital, human capital, and R&D pp. 181-187

Manuel Gómez

A new approach for the input-output price model pp. 188-195

Nooraddin Sharify and Ferran Sancho

A cross country explanation of performance of heath care systems: The consumer point of view using the Euro Health Consumer Index pp. 196-200

Francisco Gonçalves

Monetary policy and credit cards: Evidence from a small open economy pp. 201-210

Hakan Yilmazkuday

On optimal reinsurance, dividend and reinvestment strategies pp. 211-218

Hui Meng and Tak Kuen Siu

Compensation measures for alliance formation: A real options analysis pp. 219-228

Katsumasa Nishide and Yuan Tian

Efficiency and specialization: A search theoretic approach pp. 229-238

Konstantinos Eleftheriou

Leader of the pack? German monetary dominance in Europe prior to EMU pp. 239-250

J Reade and Ulrich Volz

Optimal monetary policy reaction function in a model with target zones and asymmetric preferences for South Africa pp. 251-258

Ruthira Naraidoo and Leroi Raputsoane

Testing for structural breaks in factor loadings: An application to international business cycle pp. 259-263

José Luis Cendejas Bueno, de Lucas Santos Sonia, Maria Jesus Delgado Rodriguez and Inmaculada Álvarez

Financial distress, financial constraint and investment decision: Evidence from Brazil pp. 264-271

Camila F. Bassetto and Aquiles E.G. Kalatzis

The crisis, Fed, Quants and stochastic optimal control pp. 272-280

Jerome L. Stein

How anchored are inflation expectations in EMU countries? pp. 281-298

Carin Cruijsen and Maria Demertzis

Monopoly with local knowledge of demand function pp. 299-307

Ahmad Naimzada and Giorgio Ricchiuti

Managerial compensation and the underinvestment problem pp. 308-315

Kiridaran Kanagaretnam and Sudipto Sarkar

Stock market wealth effects in an estimated DSGE model for Hong Kong pp. 316-334

Michael Funke, Michael Paetz and Ernest Pytlarczyk

Macro-econometric modelling for the Nigerian economy: A growth-poverty gap analysis pp. 335-350

Olusegun Akanbi and Charlotte B. Du Toit

Business cycles synchronization in East Asian economy: Evidences from time-varying coherence study pp. 351-365

Jean-Pierre Allegret and Essahbi Essaadi

Economic and productivity growth decomposition: An application to post-reform China pp. 366-373

Kui-Wai Li and Tung Liu

Development of domestic markets and poverty reduction for poor developing economies pp. 374-381

Yih-Luan Chyi and Chun-Sin Hwang

Cross-border mergers in a mixed oligopoly pp. 382-389

John Heywood and Matthew McGinty

The calculation of capital requirement using Extreme Value Theory pp. 390-395

Ming-Shann Tsai and Lien-Chuan Chen

On labour mobility and the neutrality of money in unionised economies pp. 396-403

Anna Larsson

Child policy ineffectiveness in an overlapping generations small open economy with human capital accumulation and public education pp. 404-409

Luciano Fanti and Luca Gori

The analytical solution of balanced growth of non-linear dynamic multi-sector economic model pp. 410-421

Jin Shui Zhang

The impact of oil price changes on Spanish and euro area consumer price inflation pp. 422-431

Luis Alvarez, Samuel Hurtado, Isabel Sánchez and Carlos Thomas

Robust central banking under wage bargaining: Is monetary policy transparency beneficial? pp. 432-438

Marcelo Sánchez

The choice of foreign market entry mode: An analysis of the dynamic probit model pp. 439-450

Ming-Yuan Chen and Jing-Yun Chang

The extent to which unbalanced schedules cause distortions in sports league tables pp. 451-458

Liam Lenten

Subjective model selection rules versus passive model selection rules pp. 459-472

Hang Keun Ryu

Limits to growth: Tourism and regional labor migration pp. 473-481

Denise Konan

Estimates for the optimal control policy in the presence of regulations and heavy tails pp. 482-488

Li Manman, Liu Zaiming and Dong Hua

Economic growth, corruption and tax evasion pp. 489-500

Roy Cerqueti and Raffaella Coppier

Productivity growth and the U.S. saving rate pp. 501-514

Talan Iscan

Modelling the effect of national culture on multinational banks' performance: A conditional robust nonparametric frontier analysis pp. 515-525

George Halkos and Nickolaos G. Tzeremes

The impact of American depositary receipts on the Japanese index: Do industry effect and size effect matter? pp. 526-539

Mei-Ping Chen, Chien-Chiang Lee and Yi-Chung Hsu

Housing rent dynamics in Italy pp. 540-548

Concetta Rondinelli and Giovanni Veronese

The stylised facts of Australia's business cycle pp. 549-556

George B. Tawadros

Macroeconomics, finance, commodities: Interactions with carbon markets in a data-rich model pp. 557-567

Julien Chevallier

The precise form of uncovered interest parity: A heterogeneous panel application in ASEAN-5 countries pp. 568-573

Kin-Boon Tang

Endogenous discounting and the domain of the felicity function pp. 574-581

Ingmar Schumacher

Technological change and China's regional disparities -- A calibrated equilibrium analysis pp. 582-588

Xiaoyun Liu, Xiuqing Wang, John Whalley and Xian Xin

The OECD's new global model pp. 589-601

Karine Hervé, Nigel Pain, Peter Richardson, Franck Sédillot and Pierre-Olivier Beffy

You can't have a CGE recession without excess capacity pp. 602-613

Peter Dixon and Maureen Rimmer

The impacts of Renminbi appreciation on trade flows and reserve accumulation in a monetary trade model pp. 614-621

John Whalley and Li Wang

Inflation persistence, inflation expectations, and monetary policy in China pp. 622-629

Chengsi Zhang

Inflation variability between central bank's preferences and the structure of the economy: A note pp. 630-636

Osama D. Sweidan

Growth with time zone differences pp. 637-640

Toru Kikuchi and Sugata Marjit

Productivity growth and biased technical change in French higher education pp. 641-646

Carlos Barros, Jean-Pascal Guironnet and Nicolas Peypoch

A model-based analysis of the impact of Cohesion Policy expenditure 2000-06: Simulations with the QUEST III endogenous R&D model pp. 647-663

Janos Varga and Jan in 't Veld

Time-varying linkages between tourism receipts and economic growth in a small open economy pp. 664-671

Yalcin Arslanturk, Mehmet Balcilar and Zeynel Ozdemir

A small New Keynesian state space model of the Australian economy pp. 672-684

Shawn Leu and Jeffrey Sheen

Financial development and economic growth nexus in the MENA countries: Bootstrap panel granger causality analysis pp. 685-693

Muhsin Kar, Saban Nazlioglu and Hüseyin AgIr

Equity and economic growth, a theoretical and empirical study: MENA zone pp. 694-700

Rasul Bakhshi Dastjerdi and Rahim Dalali Isfahani

A panel data analysis of the growth effects of remittances pp. 701-709

B. Rao and Gazi Hassan

The effectiveness of the sunshine effect in Taiwan's stock market before and after the 1997 financial crisis pp. 710-727

Yuan-Ming Lee and Kuan Min Wang

The optimality of a gulf currency union: Commonalities and idiosyncrasies pp. 728-740

M.S. Rafiq

Long-term macroeconometric models: The case of Poland pp. 741-753

Władysław Welfe

The effects of the monetary policy regime shift to inflation targeting on the real interest rate in the United Kingdom pp. 754-759

Andreas Reschreiter

WITHDRAWN: More powerful non-linear panel unit root test and its application pp. 760-760

Marco Chi-Keung Lau

Volume 28, issue 1, 2011

Inside the black box: How important is the credit channel relative to the interest and exchange rate channels? pp. 1-12

Iris Claus

Equilibrium conditions in corporate tax competition and Foreign Direct Investment flows pp. 13-21

Dimitrios Hristu-Varsakelis, Stella Karagianni and Anastasios Saraidaris

Testing the hypothesis of the natural suicide rates: Further evidence from OECD data pp. 22-26

Antonio Andres and Ferda Halicioglu

Testing the martingale difference hypothesis in CO2 emission allowances pp. 27-35

Amelie Charles, Olivier Darné and Jessica Fouilloux

Parameter estimation of an asset price model driven by a weak hidden Markov chain pp. 36-46

Xiaojing Xi and Rogemar Mamon

How does bargaining power affect remittances? pp. 47-54

R. Aísa, Joaquin Andaluz and Gemma Larramona

Home bias and the persistence of real exchange rates pp. 55-59

Show-Lin Chen and Jyh-Lin Wu

Manipulable behavior in international trade pp. 60-66

Ning Sun and Hongxin Yao

Uncertainty in the public debt market and stochastic long-run growth pp. 67-73

Panagiotis Tsintzos and Theologos Dergiades

Existence and stability of overconsumption equilibria pp. 74-90

Gregory Ponthiere

Inflation and financial development: Evidence from Brazil pp. 91-99

Manoel Bittencourt

Progressive taxation and the intensity and timing of investment pp. 100-108

Kit Pong Wong

On the existence and uniqueness of solution to the Lucas–Uzawa model pp. 109-117

Constantin Chilarescu

A macroeconometric framework for monetary policy evaluation: A case study of Pakistan pp. 118-137

Rubina Hassan and Muhammad Shahzad Mirza

Banking distress in MENA countries and the role of mergers as a strategic policy to resolve distress pp. 138-146

Jean-Michel Sahut and Mehdi Mili

Quantile hedging for equity-linked life insurance contracts in a stochastic interest rate economy pp. 147-156

Quansheng Gao, Ting He and Chi Zhang

A New Keynesian SVAR model of the Australian economy pp. 157-168

Shawn Leu

An analysis of health expenditure on a microdata population basis pp. 169-180

Ana Angulo, Ramón Barberán, Pilar Egea and Jesus Mur

Duplication externalities in an endogenous growth model with physical capital, human capital, and R&D pp. 181-187

Manuel Gómez

A new approach for the input–output price model pp. 188-195

Nooraddin Sharify and Ferran Sancho

A cross country explanation of performance of heath care systems pp. 196-200

Francisco Gonçalves

Monetary policy and credit cards: Evidence from a small open economy pp. 201-210

Hakan Yilmazkuday

On optimal reinsurance, dividend and reinvestment strategies pp. 211-218

Hui Meng and Tak Kuen Siu

Compensation measures for alliance formation: A real options analysis pp. 219-228

Katsumasa Nishide and Yuan Tian

Efficiency and specialization: A search theoretic approach pp. 229-238

Konstantinos Eleftheriou

Leader of the pack? German monetary dominance in Europe prior to EMU pp. 239-250

J Reade and Ulrich Volz

Optimal monetary policy reaction function in a model with target zones and asymmetric preferences for South Africa pp. 251-258

Ruthira Naraidoo and Leroi Raputsoane

Testing for structural breaks in factor loadings: An application to international business cycle pp. 259-263

José Luis Cendejas Bueno, de Lucas Santos Sonia, Ma Jesús Delgado Rodríguez and Inmaculada Álvarez

Financial distress, financial constraint and investment decision: Evidence from Brazil pp. 264-271

Camila F. Bassetto and Aquiles E.G. Kalatzis

The crisis, Fed, Quants and stochastic optimal control pp. 272-280

Jerome L. Stein

How anchored are inflation expectations in EMU countries? pp. 281-298

Carin Cruijsen and Maria Demertzis

Monopoly with local knowledge of demand function pp. 299-307

Ahmad Naimzada and Giorgio Ricchiuti

Managerial compensation and the underinvestment problem pp. 308-315

Kiridaran Kanagaretnam and Sudipto Sarkar

Stock market wealth effects in an estimated DSGE model for Hong Kong pp. 316-334

Michael Funke, Michael Paetz and Ernest Pytlarczyk

Macro-econometric modelling for the Nigerian economy: A growth–poverty gap analysis pp. 335-350

Olusegun Akanbi and Charlotte B. Du Toit

Business cycles synchronization in East Asian economy: Evidences from time-varying coherence study pp. 351-365

Jean-Pierre Allegret and Essahbi Essaadi

Economic and productivity growth decomposition: An application to post-reform China pp. 366-373

Kui-Wai Li and Tung Liu

Development of domestic markets and poverty reduction for poor developing economies pp. 374-381

Yih-Luan Chyi and Chun-Sin Hwang

Cross-border mergers in a mixed oligopoly pp. 382-389

John Heywood and Matthew McGinty

The calculation of capital requirement using Extreme Value Theory pp. 390-395

Ming-Shann Tsai and Lien-Chuan Chen

On labour mobility and the neutrality of money in unionised economies pp. 396-403

Anna Larsson

Child policy ineffectiveness in an overlapping generations small open economy with human capital accumulation and public education pp. 404-409

Luciano Fanti and Luca Gori

The analytical solution of balanced growth of non-linear dynamic multi-sector economic model pp. 410-421

Jin Shui Zhang

The impact of oil price changes on Spanish and euro area consumer price inflation pp. 422-431

Luis Alvarez, Samuel Hurtado, Isabel Sánchez and Carlos Thomas

Robust central banking under wage bargaining: Is monetary policy transparency beneficial? pp. 432-438

Marcelo Sánchez

The choice of foreign market entry mode: An analysis of the dynamic probit model pp. 439-450

Ming-Yuan Chen and Jing-Yun Chang

The extent to which unbalanced schedules cause distortions in sports league tables pp. 451-458

Liam Lenten

Subjective model selection rules versus passive model selection rules pp. 459-472

Hang Keun Ryu

Limits to growth: Tourism and regional labor migration pp. 473-481

Denise Konan

Estimates for the optimal control policy in the presence of regulations and heavy tails pp. 482-488

Li Manman, Liu Zaiming and Dong Hua

Economic growth, corruption and tax evasion pp. 489-500

Roy Cerqueti and Raffaella Coppier

Productivity growth and the U.S. saving rate pp. 501-514

Talan Iscan

Modelling the effect of national culture on multinational banks' performance: A conditional robust nonparametric frontier analysis pp. 515-525

George Halkos and Nickolaos G. Tzeremes

The impact of American depositary receipts on the Japanese index: Do industry effect and size effect matter? pp. 526-539

Mei-Ping Chen, Chien-Chiang Lee and Yi-Chung Hsu

Housing rent dynamics in Italy pp. 540-548

Concetta Rondinelli and Giovanni Veronese

The stylised facts of Australia's business cycle pp. 549-556

George B. Tawadros

Macroeconomics, finance, commodities: Interactions with carbon markets in a data-rich model pp. 557-567

Julien Chevallier

The precise form of uncovered interest parity: A heterogeneous panel application in ASEAN-5 countries pp. 568-573

Kin-Boon Tang

Endogenous discounting and the domain of the felicity function pp. 574-581

Ingmar Schumacher

Technological change and China's regional disparities — A calibrated equilibrium analysis pp. 582-588

Xiaoyun Liu, Xiuqing Wang, John Whalley and Xian Xin

The OECD's new global model pp. 589-601

Karine Hervé, Nigel Pain, Peter Richardson, Franck Sédillot and Pierre-Olivier Beffy

You can't have a CGE recession without excess capacity pp. 602-613

Peter Dixon and Maureen Rimmer

The impacts of Renminbi appreciation on trade flows and reserve accumulation in a monetary trade model pp. 614-621

John Whalley and Li Wang

Inflation persistence, inflation expectations, and monetary policy in China pp. 622-629

Chengsi Zhang

Inflation variability between central bank's preferences and the structure of the economy: A note pp. 630-636

Osama D. Sweidan

Growth with time zone differences pp. 637-640

Toru Kikuchi and Sugata Marjit

Productivity growth and biased technical change in French higher education pp. 641-646

Carlos Barros, Jean-Pascal Guironnet and Nicolas Peypoch

A model-based analysis of the impact of Cohesion Policy expenditure 2000–06: Simulations with the QUEST III endogenous R&D model pp. 647-663

Janos Varga and Jan in 't Veld

Time-varying linkages between tourism receipts and economic growth in a small open economy pp. 664-671

Yalcin Arslanturk, Mehmet Balcilar and Zeynel Ozdemir

A small New Keynesian state space model of the Australian economy pp. 672-684

Shawn Leu and Jeffrey Sheen

Financial development and economic growth nexus in the MENA countries: Bootstrap panel granger causality analysis pp. 685-693

Muhsin Kar, Saban Nazlioglu and Hüseyin Ağır

Equity and economic growth, a theoretical and empirical study: MENA zone pp. 694-700

Rasul Bakhshi Dastjerdi and Rahim Dalali Isfahani

A panel data analysis of the growth effects of remittances pp. 701-709

B. Rao and Gazi Hassan

The effectiveness of the sunshine effect in Taiwan's stock market before and after the 1997 financial crisis pp. 710-727

Yuan-Ming Lee and Kuan Min Wang

The optimality of a gulf currency union: Commonalities and idiosyncrasies pp. 728-740

M.S. Rafiq

Long-term macroeconometric models pp. 741-753

Wladyslaw Welfe

The effects of the monetary policy regime shift to inflation targeting on the real interest rate in the United Kingdom pp. 754-759

Andreas Reschreiter

WITHDRAWN: More powerful non-linear panel unit root test and its application pp. 760-760

Marco Chi-Keung Lau