We estimate the dynamic stochastic general equilibrium model of Christiano, Eichenbaum, and Evans (2005) on United Kingdom data. Our estimates suggest that price stickiness is a more important source of nominal rigidity in the U.K. than wage stickiness. Our estimates of parameters governing investment behavior are only well behaved when post-1979 observations are included, which reflects govern...

In this paper, we use to system thinking analyze the outcome drawn by the increased government investment in information security industry. We also analyze the structure of the feedback, derived from the inter-connection of diverse variables that affects the investment for information security industry by both public and private sectors. Moreover, this study would help to establish incentives t...

2.1 Investment in education has played a central role in Sri Lankan government policy for several generations. Key aims of public education policy have included: (i) enhancing economic equity; (ii) promoting inter-generational social mobility; (iii) increasing labor productivity and earnings through human capital accumulation; and (iv) producing a healthy and prosperous society. The economic an...

Adoption has a key role in a successful implementation of E-government initiatives in the context of developing nations. Until the current times, little research has been done to explore determinant factors of the adoption of E-government services among developing countries citizens. It is pertinent to determine the factors influencing the e-government services adoption and the government shoul...

in this study, government budgets in the last 150 years have been examined based on leviathan state and the selection process theories. using this descriptive-historical method we evaluate the impact of financial behavior of government on development. in the first section of this paper, the concept of government nature has been defined and its influence on public finance is fully explained. mor...

Modifying the proof of a theorem of Wilkie, it is shown that if a one dimnsional set S is definable in an O minimal expansion of the ordered field of the reals, and if it is regularly exponentially near to many integral points, then there is an unbounded set, which is R definable without parameters, and which is exponentially near to S.

In this article we will describe some of the main developments in interest-rate modelling since Black & Scholes’ (1973) and Merton’s (1973) original articles on the pricing of equity derivatives. In particular, we will focus on continuoustime, arbitrage-free models for the full term structure of interest rates. Other models which model a limited number of key interest rates or which operate in ...

This paper develops a simple macroeconomic model that shows that combining capital market imperfections together with unequal access to investment opportunities across individuals can generate endogenous and permanent fluctuations in aggregate GDP, investment, and interest rates. Reducing inequality of access may be a necessary condition for macroeconomic stabilization. Moreover, countercyclica...

Although the relationship between natural resources and civil war has received much attention, little is known about the underlying mechanisms. Controversies and contradictions in the stylized facts persist because resource extraction is treated as exogenous while in reality fighting affects extraction. We study endogenous fighting, armament, and extraction method, speed and investment. Rapacio...