w hether the united kingdom (uk) should remain in the european :union: (eu) or not has been a fiercely debated issue both before and after the referendum in the uk on june 23, 2016. the main purpose of this paper is to evaluate the pros and cons of the uk leaving the eu. it is concluded that if the uk leaves the eu, the resulting economic shock would risk adverse effects on macroeconomic variab...

The paper explores the effect of technological specialisation on economic growth within a balance-of-payments-constrained growth model. We find that countries that are specialised in fast-growing technologies experience above average rates of growth due to the positive effects on international competitiveness. Moreover, we find that innovation, imitation and investment affect countries’ perform...

national currency depreciation or appreciation has always been argued seriously among policymakers since changing in exchange rate could cause improvement or deficit in trade balance. these changes affect the trade volume of a country in both short-run and long-run. long-run effects are recognized as the marshall-lerner condition, while short-run effects are analyzed by two concepts: j-curve an...

accentuate on the programs advocated by the IMF and the World Bank from the model known as the "Integrated Model IMF-World Bank". This research makes a comprehensive evaluation of the applicability of this model to analyze the performance of adjustment programs in the case of six countries in the Mediterranean and Middle East and North Africa (MENA) region, namely, Algeria, Egypt, Iran, Morocco...

This paper confronts exchange rate-trade balance hypotheses derived from the elasticity, absorption/switching and monetary approaches to the balance of payments and short-run disequilibrium effects such as the J and S curves with data from a wide range of developing countries. We find strong evidence that the exchange rate affects the trade balance long-run equilibrium even when money and incom...

Several concepts of contagion are distinguished. It is argued that models that allow only a single equilibrium conditional on the macroeconomic fundamentals are not adequate to capture all forms of contagion, hence it is useful to formulate macro models that admit multiple equilibria and self-fulfilling expectations. A simple balance of payments model is presented to illustrate that phenomenon,...

An unresolved debate in the development literature concerns the impact of gender inequality on economic growth. Previous studies have found that the effect varies, depending on the measure of inequality (wages or capabilities). This paper expands that discussion by considering both the shortand long-run, evaluating the effects of gender equality in two types of economies—semi-industrialized eco...

This paper is interested in linking formally external disequilibriums to the sovereign debt crisis the EMU is experiencing since 2009. Relying on the CHEER approach that connects the goods market to the capital market, we show that when a country belonging to a monetary union faces external disequilibrium relative to its main partner, the corresponding interest rate differential increases. More...

An unresolved debate in the development literature concerns the impact of gender inequality on economic growth. Previous studies have found that the effect varies, depending on the measure of inequality (wages or capabilities). This paper expands that discussion by considering both the shortand long-run, evaluating the effects of gender equality in two types of economies—semi-industrialized eco...

Bonus Payments and Reference Point Violations We investigate how bonus payments affect satisfaction and performance of managers in a large, multinational company. We find that falling behind a naturally occurring reference point for bonus comparisons reduces satisfaction and subsequent performance. The effects tend to be mitigated if information about one’s relative standing towards the referen...