this article examines the basic assumption of rational expectations hypothesis on iran's economy from 1966 to 2003. this assumption suggests the neutrality or ineffectiveness of money policy on the development of real variables of production and employment. the results from estimation of production equation do not support the significant influence of unanticipated component of money growth...

The present paper analyses the relations between food and oil prices for Malaysia using a nonlinear autoregressive distributed lags (NARDL) model. The bounds test of the NARDL specification suggests the presence of cointegration among the variables, which include the food price, oil price and real GDP. The estimated NARDL model affirms the presence of asymmetries in the food price behavior. Nam...

Substantial changes in human resource policies are occurring in Japanese firms in response to the rapid aging of the population. Employers are reconsidering the concept of lifetime employment, seniority-based wages, retirement policies, and employment opportunities for older workers. In response to government pressure, mandatory retirement ages are being raised. These trends are examined using ...

Examination of cross-section data on non-contractual construction workers in Egypt reveals strong attachment to the sector despite extreme demand instability. Also present are statistically significant wage differentials between construction trades that cannot be attributed to differential costs of skill acquisition. These observations suggest that employers might be compensating their non-cont...

Do Wages Compensate for Anticipated Working Time Restrictions? Evidence from Seasonal Employment in Austria This paper investigates the existence of compensating wage differentials across seasonal and non seasonal jobs which arise due to anticipated working time restrictions. We build on a theoretical model by Abowd and Ashenfelter (1981), which links the compensating wage differential to varia...