Macroeconomic shocks and labour-market institutions jointly determine employment growth and economic performance. The effect of shocks depends on the nature of these institutions and the effect of institutional change depends on the macroeconomic environment. It follows that a given set of institutions may be appropriate in one epoch and not in another. We derive a dynamic model of labour deman...

AG represents only one, it’s true that it is very fashionable today, of the new instruments which began to be used lately in the macroeconomic modelling. Here, it may also be mentioned the classification systems, the genetic programming, the models based on agents, the evolutionist games etc. The characteristics of all these methods consist in the effort to detect the internal dynamic processes...

Route anomalies, beyond simple leaks, are occurring on the order of tens of thousands a year. These may be accidents. There is anecdotal evidence that indicate many of these are in fact crimes. There are case studies that illustrate the use of these for national intelligence. Any given anomaly could be an accident, a crime, or an attack. To understand the nature of routing anomalies we offer an...

We investigate the robustness of the general equilibrium stochastic growth model to the introduction of small costs of behavioral sophistication. Consumers choose amongst savings rules which vary in sophistication and effort cost. In our model, a given consumer’s gain from using a sophisticated rule is higher when other consumers use simple rules. Thus, decentralization makes it harder for simp...

The aim of this study is to analyze the causality relationship among a set of macroeconomic variables, represented by the exchange rate, interest rate, inflation (CPI), industrial production index as a proxy for gross domestic product in relation to the index of the São Paulo Stock Exchange (Bovespa). The period of analysis corresponded to the months from January 1995 to December 2010, making a...

This paper models a key aspect of real estate market uncertainty, i.e. the frequent mismatch between office demand and supply under the impact of the macro economy, macroeconomic policy and the domestic stock market. The dynamic interaction of this aspect of the office sector’s market uncertainty is structured under the demand-side and supply-side aspects. Prices in the form of office rents, to...

The purpose of this paper is to examine the determinants of the timing of bank failure/merger in 10 Asian countries over the period of 1999-2007 using a multivariate logit model and a split population duration analysis. Apart from bank-specific information, we also focus on the effects of macroeconomic and financial characteristics. The following empirical findings are obtained. First, the resu...

In the present data mining techniques are the most utilized methods of calculus in discovering existent relations between different components, objects, phenomenon, etc. Economic analysis must be achieved by the most advanced methods of calculus, so that eventually, thanks to their evolution, they can generate much more viable data by minimizing information loss in order to better reflect reali...

One aspect of the preceding quotation has been extensively studied in the economics literature. Numerous studies have examined the relationship between economic freedom and long-run economic growth across countries.1 The other aspect of Friedman’s statement—that referring to the relationship between economic freedom and shortrun macroeconomic stability—has received relatively little attention i...

Most of the current literature on macroeconomic policies focus on cyclical phenomena such as politically induced business cycles, and how short-sighted policies can be overcome through proper institutional design. This paper instead focuses on the lasting effects of macroeconomic policies on such “real” economic variables as unemployment and distribution, and we argue that traditional distribut...