Contemporary Economic Policy articles from October 2006

Contemporary Economic Policy archives from October 2006

Hungary's eurozone entry date: what do the markets think and what if they change their minds?
October 1, 2006... I. INTRODUCTION In the middle of 2004, 10 countries--most of them from the Central and East European region--joined the European Union. All of the new member states are required to adopt the euro in the future. Before introducing the euro,...

Introductory remarks for the Contemporary Economic Policy special section on "monetary policy issues of new EU-member and candidate countries".
October 1, 2006... The articles contained in this special section are substantially revised and updated versions of papers, which were originally presented at the Annual Conference of the Western Economic Association in Vancouver in 2004. They are written by...

Foreign exchange interventions under inflation targeting: the Czech experience.
October 1, 2006... I. INTRODUCTION This article discusses the role of direct foreign exchange (FX) interventions in the inflation-targeting regime, focusing on the Czech experience since 1998. The Czech experience may contribute as an important case study to...

Floating with a large life jacket: monetary and exchange rate policies in Croatia under dollarization.
October 1, 2006... I. INTRODUCTION At first glance, Croatia seems to share the problems of other Central and Eastern European countries. It is a small economy, troubled by large and volatile capital flows (Sonje and Vujcic 1999) and periods of rapid credit...

The Persian Gulf, global oil resources, and international security.
October 1, 2006... I. INTRODUCTION Remaining global conventional crude oil resources are on the order of 3 trillion barrels, with more than 50% of that amount in the Persian Gulf. Consequently, Persian Gulf oil has been of considerable interest to Western...

Does the Kyoto Protocol cost too much and create unbreakable barriers for economic growth?
October 1, 2006... I. INTRODUCTION Climate change policy is rightly seen as a major component of environmental policy, but its increasingly pertinent role in the wider context of economic policy is often overlooked. The debate on climate change policy,...

The sources of growth at different stages of development.
October 1, 2006... What separates wealthy nations from poor ones is one of the oldest and most fundamental questions in economics. But it has only been in recent years, with the development of powerful computational techniques and data sets, that empirical...

The private sector impact of state and local government: has more become bad?
October 1, 2006... I. INTRODUCTION Because state and local policy can greatly affect regional labor markets, capital accumulation, and regional economic activity, state and local governments are an important source of economic policy in the United States. A...

How much do students matter? Applying the Oaxaca decomposition to explain determinants of adequate yearly progress.
October 1, 2006... The No Child Left Behind Act (NCLBA) of 2001 is a reauthorization of the Elementary and Secondary Education Act (ESEA), the central federal law impacting precollegiate education. The ESEA, first enacted in 1965, implements Title I, the federal...

Separate and unequal: the effect of unequal access to employment-based health insurance on same-sex and unmarried different-sex couples.
October 1, 2006... I. INTRODUCTION For most nonelderly people in the United States, health insurance and access to health care derive from one's own or a family member's employment. As a matter of customary compensation practice, many employers offer...

Structural change and nonlinearities in a Phillips curve model for South Africa.
October 1, 2006... I. INTRODUCTION A crucial precondition for a central bank to maintain price stability is a stable and predictable trade-off between inflation and real economic activity. As Mankiw (2001) succinctly put it: "The tradeoff is inexorable...

One world, one currency: exploring the issues.
October 1, 2006... A global economy needs a global currency. --Former Fed Chairman Paul Volcker I. INTRODUCTION Along with globalization of trade and finance has come a certain globalization of money. For much of the twentieth century, the main...

Affecting factors on risk-adjusted efficiency in Taiwan's banking industry.
October 1, 2006... I. INTRODUCTION Financial liberalization has been adopted by most countries as their financial policy. However, various risks arise from financial liberalization, which present a challenge to financial institutions and supervising sectors....

2005-2006 editor's report.(Editorial)
October 1, 2006... Volume 23 published quarterly in 2005 comprised 48 articles (655 p.) and 88 authors and coauthors from a variety of topic areas as defined by the Journal of Economic Literature classification system. Table 1 provides a distribution of articles...