This paper empirically determines why, during the 1990s, inflation in Canada was consistently more stable than predicted by the fixed-coefficients Phillips curve. A time-varying-coefficient model, where all the parameters adjust simultaneously, shows that the behaviour of expectations was probably a major contributing factor. A decrease in the value of the coefficient on the first difference of...

This paper applies the hybrid dynamic general-equilibrium, vector autoregressive (DGE-VAR) model developed by Ireland (1999) to Canadian time series. It presents the first Canadian evidence that a hybrid DGE-VAR model may have better out-of-sample forecasting accuracy than a simple, structure-free VAR model. The evidence suggests that estimated DGE models have the potential to add good forecast...

Inequality of Learning in Industrialised Countries Within-country differences in educational outcomes are compared for a large group of industrialised countries. We investigate where inequality is greatest, the association between inequality in learning and average levels of learning, the interpretation of measured levels of inequality, and differences in inequality at the top and bottom of the...

The article analyzes theoretical foundations of enterprises logistics system construction, gives the classification main entrepreneurial activity subjects in Ukraine, traces key development trends and outlines a role small business national economic system, conducts comparative analysis medium entrepreneurship specific weight defines economical aspects managing their system. research conducted ...

Management of intellectual capital is an important issue in knowledge intensive organizations. Part of this is the composition of the optimal project portfolio the organization will carry out in the future. Standard methods that guide this process mostly focus on project selection on the basis of expected returns. However, in many cases other strategic factors should be considered in their inte...

We investigate the association between business strategy and firm-level tournament incentives in China find that is associated with positively. further this positive relationship manifests itself local, but not central, state-owned enterprises (SOEs). In addition, we also offer some evidence foreign institutional investors play a moderating role on incentives. Our study fills gap existing liter...

Entrepreneurship Programs in Developing Countries: A Meta Regression Analysis This paper provides a synthetic and systematic review on the effectiveness of various entrepreneurship programs in developing countries. We adopt a meta-regression analysis using 37 impact evaluation studies that were in the public domain by March 2012, and draw out several lessons on the design of the programs. We ob...

This paper uses a tractable macroeconomic model with idiosyncratic human capital risk and incomplete markets to analyze the growth and welfare effects of business cycles. The analysis is based on the assumption that the elimination of business cycles eliminates the variation in idiosyncratic risk. The paper shows that a reduction in the variation in idiosyncratic risk decreases the ratio of phy...

We investigate whether controlling shareholders expropriate corporate resources during a financial crisis using the data of Thai firms. Our results are consistent with the argument of Friedman, Johnson, and Mitton (2003) that the propensity to tunnel and prop is higher for business groups in particular if they are organized in pyramids. Specifically, we find that firms that belong to the top 30...