a r t i c l e i n f o JEL classification: D58 D62 F18 H23 Keywords: Small open economy Externality Efficiency cost Abatement cost Border tax adjustment Free emissions allocations In the existence of trade interaction, a sub-global climate change policy can generate externality, which can cause competitiveness issues for the producers in compliant regimes. However among compliant regions, a smal...

Despite her small size and late industrialization, Singapore has managed to capture a significant share of the global information economy over the last three decades. This paper analyzed the structure and growth dynamics of Singapore’s information industries using an analytical framework that integrates the four key components of an information economy: IT goods industry, content industry, netw...

Strong and vibrant small businesses are a key to a healthy economy. Small businesses respond well to customer needs and allow an economy to adapt easily to changing circumstance. In addition, small businesses provide a major portion of employment in the U.S. economy: in 1994, businesses with fewer than 100 employees provided 55 percent of all jobs in the nation.1 Of course, some states are more...

This paper analyses the e¤ects of reducing unfunded social security and population ageing on economic growth and welfare, both for a small open economy and for a closed economy. The economy consists of a service sector and a commodity sector. Productivity growth only occurs in the latter sector and is assumed to depend positively on its size. It is shown that if old agents mainly demand labour ...

We study the labor market effects of realignment in fixed bilateral exchange rates, such as China’s peg to the US dollar. We employ the open economy model developed by de Melo and Robinson to identify the core parameters of the real, trade side of the economy driving the unemployment effects of bilateral exchange rate realignment. A small open economy version of the model is explored analytical...

Oil price shocks are the major source of economic instability in oil exporting developing countries, including Iran. In this paper a Multi Sector Dynamic Stochastic General Equilibrium model, with emphasis on optimization of oil sector as a producing sector is designed. Furthermore, an optimizing import sector is introduced into the model by considering the price rigidity in imported goods as a...

A positive relationship between running economy and maximal oxygen uptake (V̇O2max) has been postulated in trained athletes, but previous evidence is equivocal and could have been confounded by statistical artefacts. Whether this relationship is preserved in response to running training (changes in running economy and V̇O2max) has yet to be explored. This study examined the relationships of (i) r...

This paper is concerned with the saddle-path stability of monetary growth rules in a two-country two-sector dynamic stochastic general equilibrium model. Alongside standard features of emerging economies, such as a combination of producer and local currency pricing for exports, fiscal dominance and oil exports, this model also incorporates informal labour and production sectors and examines how...