These are encouraging words for the economy, as global commerce has been a key cause of two centuries of prosperity. But a closer look at the U.K.’s trade policies during the 19th century—and perceptions thereof—confirms the importance of measuring free trade in the correct way, if…
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Pensions seem straightforward: governments simply have to devise a system that ensures that people save enough of their income. It is basically that simple when you are dealing with an individual, but when you are organising something at the population level, it is more complicated.
In 1999, the year in which the European single currency was launched, the Nobel Prize in Economics was awarded to Robert Mundell for his theory of the conditions under which it is desirable for multiple countries to use a unified currency rather than each having their own one.
With the election date approaching, GCC states, just like the rest of the world, are closely watching for the next American president. With Clinton and Trump proposing opposing policies, these will have direct impact on GCC states, particularly in the energy and trade sectors.
A business cycle is the movement of total economic activity (GDP) around a long-run trend. When total economic activity grows faster than its long-term trend, it is called a boom, and the reverse is a recession.
The two men who on Monday received the 2016 Nobel prize in economics, Oliver Hart and Bengt Holmstrom, made key contributions to contract theory, including the “principal-agent” (PA) model.