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Abstract.  Sticky price models based on menu costs predict that countries with high trend inflation should have (i) smaller impact effects of demand shocks on output and (ii) less persistent output fluctuations, relative to low‐trend inflation countries. These predictions are tested, controlling for changes in trend inflation, using a country‐specific approach. The results do not support the second prediction. That prediction is also not robust to a modified measure of trend inflation that excludes episodes of hyperinflation. These findings suggest that while price stickiness is important for understanding short‐run impact effects, real propagation mechanisms may drive persistence in output fluctuations.

AbstractWe apply modern ideas‐oriented growth accounting, based on the semi‐endogenous growth theory of Jones (2002), to compare the sources of Canadian and US economic growth between 1981–2014. This framework allows us to distinguish between transition dynamics and steady state growth as well as quantify their respective contributions. We find that the bulk of the 1.1 percentage points total average Canadian growth rate of output per hour has been due to transitional factors, mainly capital intensity and domestic human capital growth driven by educational attainment. The growth in excess ideas (total ideas growth minus steady state growth) has contributed a small share of 0.06 percentage points. Two features stand out in comparison to the US growth experience over the same period. First, over a full percentage point of the average US growth of 1.64% is due to excess ideas growth. Second, the "constant growth view" that reconciles large sources of transitional growth with relatively stable average growth is not supported in Canada. We estimate a relatively low elasticity of output with respect to world research effort as the reason behind the small share of R&D‐oriented sources of Canadian growth.

The article explores the prospects of the China-Pakistan Economic Corridor (CPEC) for developing the Balochistan province of Pakistan. Balochistan is the largest province of Pakistan, full of natural resources; it has geostrategic importance due to its location, long coastal line, Gwadar port, and the recently launched CPEC project. It remains an economically underdeveloped and socially and politically marginalized province, facing extensive poverty and lack of economic opportunities despite the enormous economic potential, separatism movements, terrorism, and severe clashes with the federal government over its financial share in the state's divisible pool and natural resources found in the province. Economic backwardness is one of the main reasons behind the critical challenges in the province. In this regard, it is essential to analyze the prospects of CPEC projects for the province's economic, social, and political redevelopment and how CPEC can improve the security situation and resolve the separatist movements in the province. CPEC provides potential opportunities for improving the economic and security situation in the province and the region on the whole, as it brings a huge amount of Chinese foreign direct investment to the province, creates jobs, encourages infrastructure development, establishes special economic zones, and turns the province into a corridor of regional trade connecting it with other economies. The article substantiates that CPEC has prospects to cool down the Baloch uprising, bring peace, prosperity, and stability, solve the economic crises, decrease poverty and improve the country's living conditions and region.

The objective of this study is to critically analyse the problems of students politics in the educational institutions and know about its prospects and implications. This is an important phenomenon playing crucial role in a democratic states like Pakistan. Students politics is an important research problem. There are many underlying questions like what is the importance and prospects of student politics? What are its implications? Why it leads to violence how it can be overcome and more result oriented? Students are the leaders of tomorrow therefore student politics in educational institution of a democratic state like Pakistan is very important phenomenon. It has many prospects like most of the mainstream top seed politicians are the product of student politics, providing educated and well-trained political leaders and workers, strengthen political participation, increase turnout, helpful to address the issues of students and create sense of political awareness, but at the same time it has also many implications like student unions are working as pressure groups, organize strikes, marches, using force against opponent groups, wasting student's precious time in off-campus activities, intoxication and developed weapon culture. This research is a qualitative in nature and based on critical discourse analysis, descriptive and analytical approaches.

The objective of this study is to critically analyse the problems of students politics in the educational institutions and know about its prospects and implications. This is an important phenomenon playing crucial role in a democratic states like Pakistan. Students politics is an important research problem. There are many underlying questions like what is the importance and prospects of student politics? What are its implications? Why it leads to violence how it can be overcome and more result oriented? Students are the leaders of tomorrow therefore student politics in educational institution of a democratic state like Pakistan is very important phenomenon. It has many prospects like most of the mainstream top seed politicians are the product of student politics, providing educated and well-trained political leaders and workers, strengthen political participation, increase turnout, helpful to address the issues of students and create sense of political awareness, but at the same time it has also many implications like student unions are working as pressure groups, organize strikes, marches, using force against opponent groups, wasting student's precious time in off-campus activities, intoxication and developed weapon culture. This research is a qualitative in nature and based on critical discourse analysis, descriptive and analytical approaches.

We document empirical evidence on the determinants of U.S. regional growth over the last 25 years, with a special attention to the role of entrepreneurial activity or `business dynamism'. The main data source is the Business Dynamics Statistics (BDS) released by the U.S. Census Bureau. The key findings are: i) business entry and exit rates are similarly distributed across states, ii) neither entry nor exit rates have had a significant impact on regional growth, iii) higher business density results in faster regional growth, iv) entry rates have fallen over time and the states with greater business detrending have had weaker economic growth, v) states where entry and exit show substantial comovement (business churning) tend to grow faster, especially after 2007, vi) state-level population growth has no substantial effect on regional growth, and vii) the convergence hypothesis holds across the states of the U.S. ; M. Casares acknowledges financial support of the Spanish government (research project ECO2011-24304 and Programa Campus Iberus de Excelencia Internacional).

The continued spread of COVID-19 suggests a significant possibility of reimposing the lockdowns and stricter social distancing similar to the early phase of pandemic control. We present a dynamic model to quantify the impact of isolation for the contagion curves. The model is calibrated to the COVID-19 outbreak in Spain to study the effects of the isolation enforcement following the declaration of the state of alarm (14 March 2020). The simulations indicate that both the timing and the intensity of the isolation enforcement are crucial for the COVID-19 spread. For example, a 4-day earlier intervention for social distancing would have reduced the number of COVID-19 infected people by 67%. The model also informs us that the isolation enforcement does not delay the peak day of the epidemic but slows down its end. When relaxing social distancing, a reduction of the contagion probability (with the generalization of preventive actions, such as face mask wearing and hands sanitizing) is needed to overcome the effect of a rise in the number of interpersonal encounters. We report a threshold level for the contagion pace to avoid a second COVID-19 outbreak in Spain. ; Casares acknowledges the support of Ministerio de Ciencia e Innovacion, Spanish Government (PGC2018-09354), and Khan acknowledges the support of Carleton University Rapid COVID-19 Research Grant 112940.

We present a dynamic model that produces day-to-day changes in key variables due to the COVID-19 contagion: the number of ever infected people, currently infected, deaths, healed, and infected people who require hospitalization. The model is carefully calibrated to Spanish data and we conduct simulation exercises to study the role of isolation measures to contain the virus spread. We find that virus containment from isolation exhibits increasing returns. Our model simulations show that the State of Alarm intervention of the Spanish government on March 14th, 2020 reduces deaths by almost 85%, and lowers the maximum number of infected people who need daily hospitalization by a factor of 1/12. The simulations also indicate that both the timing and the intensity of the isolation enforcement are key for the evolution of the virus spread and the smoothing of the hospitalization needs.