In this paper we modify the method of Blanchard and Quah (1989) in order to estimate a structural VAR model appropriate for a small open economy. In this way we identify shocks to output and prices in the members of the two monetary unions that make up the African CFA Franc Zone. The costs of monetary union membership will depend on the extent to which price and output shocks are correlated acr...

Recent! research! in!both! the! social! and!natural! sciences!has!been!devoted! to! increasing!our! ability!to!predict!disasters,!prepare!for!them!and!mitigate!their!costs.!Curiously,!we!appear!to! know!very!little!about!the!fiscal!consequences!of!disasters.!The!likely!fiscal!impact!of!a!natural! disaster! has! not! been! examined! before! in! any! comparable! or! comparative! framework.! We! e...

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 Türkiye’de planlamaya dayalı iktisadi kalkınmanın ilk örneğini 1934 yılında uygulamaya konulan Birinci Beş Yıllık Sanayi Planı oluşturmaktadır. İlerleyen yıllarda devam eden planlama girişimleri sonunda 1961 Devlet Planlama Teşkilatı’nın kurulmasıyla birlikte Kalkınma Planları konulmuştur. Planlarında büyüme, sektörel istihdam, yaşam koşulları, adalet vb. birçok konulara yer verilmekte...

Introduction Primary prophylaxis of variceal haemorrhage with non-selective betablockers (NSBB) or band ligation (VBL) is now standard care. There has been debate regards to the safety and efficacy NSBB however it more recently hypothesised that may be associated improved survival.1 2 The aim this study was assess mortality in a cohort patients randomised either VBL. Met...

The use of foreign direct investment as a channel of international spillovers is by now fairly established in the empirical literature on innovation and growth. It is often argued that subsidiaries of foreign multinational enterprises are a mechanism through which technological know-how flows across borders. For foreign subsidiaries to be channels of international spillovers, these subsidiaries...

In this note we theoretically investigate the question of whether the relationship between public debt and economic growth is characterized by an inverse U-shaped functional form. Starting point of our analysis is the paper by Checherita-Westphal et al. (2012) who present an endogenous growth model with public capital and public debt that displays a hump-shaped relation between debt and economi...

Available online 23 October 2015 We explain stable growth performance in democracies by characterizing political systems in terms of the distribution of political power across groups, and show when the qualities of policy alternatives are uncertain, greater democracy (decentralization of authority) leads to more stable policy choices. We empirically test this mechanism by creating measures of t...

We have derived an empirical calibration of the abundance of S/H as a function of the S23 parameter, defined using the bright sulphur lines of [SII] and [SIII]. Contrary to what is the case for the widely used O23 parameter, the calibration remains single valued up to the abundance values observed in the disk HII regions. The calibration is based on a large sample of nebulae for which direct de...