We use a Barro–Becker model of endogenous fertility, in which parents are subject to idiosyncratic shocks that are private information (either to labor productivity or taste for leisure), to study the efficient degree of consumption inequality in the long run. The planner uses the trade-off between family size and future consumption and leisure, to provide incentives for workers to reveal their...

The main objective of this paper is to investigate the effects of monetary regime (countries with inflation targeting monetary policy versus countries with exchange rate anchor) on the extent of exchange rate pass-through over the period of 1999-2010. To achieve this objective, the econometric model has been estimated by Dynamic Panel Data approach and Arrelano- Bond (AB) method. The empirical ...

The paper focuses on regional trade agreements and economic co-operation and develops a new appropriate approach to study their impact on growth and trade. The approach is based on an endogenous trade-growth theory and novelly specified in an economic integration (expenditure) framework which is the conceptual foundation of regional trade agreements. Importantly, it also appropriately takes int...

 As the number of independent countries increases and their economies become more integrated, we would expect to observe more multi-country currency :::union:::s. This paper explores the pros and cons for different countries to adopt as an anchor the US Dollar, the Euro or the Yen. In addition, it addresses the question of how co-movement of outputs and prices would respond to the formation of ...

Laffont and Tirole’s [Using cost observation to regulate firms, J. Polit. Econ. 94 (1986) 614–641] pioneering analysis identifies the optimal procurement contract when the supplier can readily inflate his innate production cost without detection.When the buyer has some ability to limit such cost inflation, an alternative contract can outperform the contract identified by Laffont and Tirole. The...

This paper examines how a project owner optimally selects a project operator and motivates him to deliver an unobservable effort when potential operators are wealthconstrained. It shows that either a pooling or a separating contract can arise in equilibrium. In a separating contract, the more capable potential operator is either selected more often but awarded a smaller share of profit, or sele...

in this paper, the behavior of saving and consumption has been considered in ramsey – cass- koopmans model’s framework. our purpose was investigation of dynamics of these variables and analysis of their response to other parameter and variable variations. so, we made lagrangian function subject to some restrictions and euler equations and other steady state path equations. and then, we have cal...

the main objective of this paper is to investigate the effects of monetary regime (countries with inflation targeting monetary policy versus countries with exchange rate anchor) on the extent of exchange rate pass-through over the period of 1999-2010. to achieve this objective, the econometric model has been estimated by dynamic panel data approach and arrelano- bond (ab) method. the empirical ...

exchange rate has the fundamental role as one of the economy key variables in determining the domestic price. so it is important to know how is the empirical relationship between the exchange rate and domestic prices and the factors influencing this relationship. the main objective of this study is to determine the effect of vehichel imports share on the exchange rate pass – through on domestic...

this study has investigated the long-run and short-run effects of relative productivity on real exchange rate using annual time series data of iran and its major trade partners over the period 1980-2005. to analyze such effect which refers to the balassa-samuelson effect, this research uses auto-regressive distributed lags (ardl) method, to deal with dynamics of the relationship between product...