Latin America has a rich history of financial crises. However, it was relatively unharmed by the 2007-2009 Global Financial Crisis (GFC). This paper investigates why, and in particular the role of commodity prices and its institutional framework - in line with the fourth generation financial...

We consider a typology of four social and economic policy models each pertaining to different groups of countries. These four policy systems namely the Nordic model, the Anglo-Saxon model, the Continental model, and the Mediterranean model, are described individually and in terms of selected...

Twenty years ago, Harvard Business School economist and strategy professor Michael Porter stood conventional wisdom about the impact of environmental regulation on business on its head by declaring that well designed regulation could actually enhance competitiveness. The traditional view of...

The purpose of the study is to collect information that can be used to design a policy to induce the poor to invest in human capital. We use laboratory experimental methodology to measure the preferences and choices of the target population of a proposed government policy. We recruited 256...

This study examines entry strategies in the Canadian wireless discount market. Analysis was mainly focused on the incumbents' strategic choices when faced with the threat of sequential entry. The main model used is Fudenberg and Tirole's taxonomy of business strategies that is studied in the...

Due to meteorological factors, the distribution of the environmental damage due to climate change bears no relationship to that of global emissions. We argue in favor of offsetting this discrepancy, and propose a global insurance scheme to be financed according to countries' responsibility for...

We propose a model where both R&D and ICT investment feed into a system of three innovation output equations (product, process and organizational innovation), which ultimately feeds into a productivity equation. We find that ICT investment and usage are important drivers of innovation in both...

In this paper we aim to measure and decompose the growth of frontier total factor productivity (TFP) in Tunisia over the period 1983-2001. We define frontier TFP growth as the shift of the economy's production frontier, which we obtain by solving for each year a linear program, a sort of...

In recent years multivariate models for asset returns have received much attention, in particular this is the case for models with time varying volatility. In this paper we consider models of this class and examine their potential when it comes to option pricing. Specifically, we derive the risk...

The Self-Sufficiency Project (SSP) is a research and demonstration project that offered a generous time-limited income supplement to randomly selected welfare applicants under two conditions. The first, the eligibility condition, required that they remain on welfare for at least twelve months....