What Determines the Nominal Exchange Rate? Some Cross-Sectional Evidence

Stylized Facts of Nominal Exchange Rate Returns

What Caused The Great Moderation? Some Cross-Country Evidence

Over the last 20 years or so, the volatility of aggregate economic activity has fallen dramatically in most of the industrialized world. The timing and nature of the decline vary across countries, but the phenomenon has been so widespread and persistent that it has earned the label: “the Great Moderation.” A growing body of research has focused on The Great Moderation and its possible explanati...

What determines longevity: Metabolic rate or stability?

Extract: The conventional wisdom about why species age and live as long as they do is based in part on the modern version of the very old and now discredited "rate of living" (ROL) theory of aging. According to the old ROL theory, aging is caused by the loss of some vital substance such as water or hormones - the more rapid the vital substance is used up the shorter the lifespan. The modern and...

Effect of Nominal Exchange Rate Volatility on Output in Iran’s Economy

Volatility of exchange rate while changes from time to time, is expected to affect firm level operations as well as aggregate level outcomes i.e. macroeconomic performance. This paper, investigates the effects of exchange rate volatility on aggregate production in Iran using a Structural Vector Auto Regressive model with Exogenous Variables (SVARX). The model is estimated based on macroeconomic...

What Determines Corruption? International Evidence from Microdata

This paper uses a microlevel data set from 49 countries to create a direct measure of corruption, which portrays the extent of bribery as revealed by individuals who live in those countries. In addition, it investigates the determinants of being asked for a bribe at the individual level. The results show that both personal and country characteristics determine the risk of exposure to bribery. E...