The author develops and estimates a quantitative dynamic-optimizing model of a small open economy (SOE) with domestic and import price stickiness and capital-adjustment costs. A monetary policy rule allows the central bank to systematically manage the short-term nominal interest rate in response to deviations of inflation, output, and money growth from their steadystate levels. The structural p...

there is no agreement among different economic schools about role of monetary policy in stabilization policy. new classic by means of rational expectations show that only unanticipated monetary policy influences upon real variables. how ever new keynsian by means of rational expectations shows that anticipated monetary policy influences real ariables too. the present article investigates above ...

In this paper we specialize the Ngai-Pissarides model of growth and structural change [American Economic Review 97 (2007), 429-443] to the case of three sectors, representing the primary (agriculture, mining), secondary (construction, manufacturing) and tertiary (services) sectors. On that basis we explore the dynamic properties of the model along the transition path to the steady-state equilib...

Dynamic Discrete Choice and Dynamic Treatment Effects This paper considers semiparametric identiÞcation of structural dynamic discrete choice models and models for dynamic treatment effects. Time to treatment and counterfactual outcomes associated with treatment times are jointly analyzed. We examine the implicit assumptions of the dynamic treatment model using the structural model as a benchma...

This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier takes into account structural country characteristics, institutional, and macroeconomic factors that impact financial system deepening. We operationalize this framework using a bench...

In this paper we present and analyze a stylized model of endogenous growth with international technology spillover effects from the North to the South. The model allows for endogenous structural change and environmental degradation that reduces world output. We find that within this framework the costless technological spillovers foster structural change in both more and less advanced economies...

abstract in this paper, we examine relationship between financial intermediary development variables and values added of agricultural sector in iran during 1352 to 1385. the five indices derived from the banking system as a financial intermediary development indicators, that define in related to the agricultural sector, and with the introduction of statistic methods of factor analysis and its a...

The Effects of the State Sector on Wage Inequality in Urban China: 1988–2007 This paper examines the effects of state sector domination on wage inequality in urban China. Using Chinese Household Income Project surveys, we conduct two exercises: with quantile regression analysis, we identify wage gaps across the distribution and over time; and we employ the Machado and Mata (2005) decomposition ...

The second and third generation of immigrants have been the centre of a lively debate about the economic integration of immigrants into their host societies, but there is little empirical evidence on the German case. In this study I comprehensively portray the labour market outcomes of second generation immigrants in Germany. Special attention is attributed to observable heterogeneity in terms ...