Using a competitive two-country two-commodity monetary model with optimizing agents in which persistent unemployment arises, this paper examines the effects of trade restrictions on consumption and employment in the two countries. When facing unemployment, a country tends to impose an import restriction so that domestic firms will increase production and raise employment. However, this policy i...

in this paper, economic convergence in selected oic (36 countries) is studied. the convergence hypothesis is tested through three approaches: beta convergence, sigma convergence, and time series model. ols is used for estimating the cross section model and cross variance is used to test the distributive model. for analyzing time series model, we used augmented dicky fuller test. beta convergenc...

The present report is a study on the side effects experienced by the patients attending the Lithium Clinic of the Institute of Psychiatry, Government Rajaji Hospital, Madurai. Out of the 120 (M 78, F42) patients studied, 97 had side effects. The effects were examined in respect of their frequency, time of onset and course, their relation to one dose and serum levels of lithium and to the clinic...

One of the most striking aspects of the recent recession is the collapse in international trade. This paper uses disaggregated data on U.S. imports and exports to shed light on the anatomy of this collapse. We find that the recent reduction in trade relative to overall economic activity is far larger than in previous downturns. Information on quantities and prices of both domestic absorption an...

This paper provides an empirical exploration of the interaction between fiscal policy, monetary policy, exchange rates, and external balances as well as their impacts on real economic growth and inflation for the BRICS countries. A panel VAR model is employed to assess the dynamic relationships. Our results generally confirm the significant impacts of a monetary shock on real economic activity ...

Output-growth and inflation differentials have been large and rather persistent since the beginning of the European Economic and Monetary Union. In the empirical literature, several fundamental causes of heterogeneities as regional productivity shocks and home-bias effects, and frictions as staggered-pricing and labor immobility are identified as causes for these differentials. In our model, we...

How much should we expect monetary integration to reduce differences among participating economies? Using data for the 50 U.S. states over 1929–1999, the paper finds that large differences across states persist in both business-cycle variability and correlations of state income with the U.S. as a whole. It is also shown that about a third of a state’s business-cycle volatility is explained by i...

Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found to share some common long-term and short-term cyclical variations. While the Hong Kong economy is susceptible to external shocks and is “Granger-caused” by the other two economies, local factors account for a large proportion of output growth variability and are mainly responsi...