Recent sovereign defaults in emerging countries are accompanied by interest rate spikes and deep recessions. This paper develops a small open economy model to study default risk and its interaction with output, consumption, and foreign debt. Default probabilities and interest rates depend on incentives for repayment. Default occurs in equilibrium because asset markets are incomplete. The model ...

Several empirical studies are concerned with measuring the effect of currency and current account crises on economic growth. Using different empirical models this paper serves two aspects. It provides an explicit assessment of country specific factors influencing the costs of crises in terms of economic growth and controls via a treatment type model for possible sample selection governing the o...

This paper considers the role of corruption in impelling capital flight. Identifying corruption as one dimension of poor governance, the empirical analysis explores direct linkages between corruption and capital flight in a broad sample of countries. The novelty of this investigation is that it is based on a portfolio choice model of asset allocation that explicitly recognizes corruption as con...

in this paper, the behavior of saving and consumption has been considered in ramsey – cass- koopmans model’s framework. our purpose was investigation of dynamics of these variables and analysis of their response to other parameter and variable variations. so, we made lagrangian function subject to some restrictions and euler equations and other steady state path equations. and then, we have cal...

background: falciparum malaria is a severe health burden worldwide. antigen presenting cells are reported to be affected by erythrocytic stage of the parasite. malarial hemozoin (hz), a metabolite of malaria parasite, has adjuvant properties and may play a role in the induction of immune response against the parasite. objective: to determine the immunological impact of hemozoin on the capacity ...

Trade liberalization and its effect on unemployment have, over the years, attracted greater research attention from many researchers, given attendant negative effects it has growth of an economy. The study investigated trade liberalization's impact Nigeria's 1981 to 2022. divided into exports imports trade. employs Ordinary Lease Square. conducted for descriptive statistics tested unit root whe...

BACKGROUND There is general agreement that the number of U.S. science PhDs being trained far exceeds the number of future academic positions. One suggested approach to this problem is to significantly reduce the number of PhD positions. A counter argument is that students are aware of the limited academic positions but have chosen a PhD track because it opens other, non-academic, opportunities....

BACKGROUND The aim of this study was to explore the association between age and care of patients with depression in primary care setting. A comparison was made among the groups of elderly patients, middle aged patients and younger patients with diagnosis of depressive episode (F32). SUBJECTS AND METHODS Patients (17.290) from ten GP offices in the city of Zagreb formed the representative samp...