Adjustment costs and import demand behavior: evidence from Canada and the United States
A simple theoretical model was developed in an attempt to link adjustment costs as one of the possible sources of sluggish demand adjustment in Canadian and US markets. The proposed framework integrates forward looking elements with actual decision processes. And unlike previously documented works, the model considers variables as non-stationary elements. Results suggest that adjustment costs are part of the US and Canadian import demand, as shown by the stability and efficiency of involved variables. It was also established that adjustment costs cause sluggish developments in both countries' import demand.
Publication Name: Journal of International Money and Finance
Health reform in the United States
The size of the health care sector and its stake on public budgets make health care financing such a heated issue in the US that will surely be on the policy agenda for a long time. The present amalgamation of insurance and the delivery system under the blanket of managed care signifies a significant shift in industrial structure. Such integration will likely produce one-time savings but it remains unclear if it will actually slow down the steady-state growth rate of health care cost.
Publication Name: Economic Journal
GCC states: gas grid...
Gulf Cooperation Council (GCC) states have reached an agreement to set up a joint gas distribution network that would tap the immense gas potential of several member states to satisfy the increasing demand in others. According to the Gulf Times, the GCC states are expected to sign a deal in late 1998 on the project, approximated to cost roughly $1.5 bil. Plans entail that the project start in year 2001, with an operation life of 20 years.
Publication Name: Middle East Executive Reports
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