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作者：Goldberg, LS
作者单位：National Bureau of Economic Research; New York University
摘要：Many countries have multiple exchange rate regimes, with black or secondary currency markets operating alongside an exchange rate pegged or determined in interbank or auction markets. Leakages occur across these markets, necessitating careful analysis of the dynamic effects of numerous policy instruments. Using a model with multiple exchange rates and leakages, we trace the dynamic effects on official and parallel foreign exchange markets of exchange rate unification, changes in foreign exchan...
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作者：CHAO, CC; YU, ESH
作者单位：Chinese University of Hong Kong; Louisiana State University System; Louisiana State University
摘要：This paper examines the shadow price of foreign exchange for a dual economy with tariffs, quotas, or VERs. We show that the shadow exchange rate is greater than the official rate in the presence of tariffs, whereas it is greater or smaller than the official rate in the presence of quotas, depending upon whether capital is sector-specific or perfectly mobile. Furthermore, the shadow exchange rate is unambiguously smaller than the official rate for the VER case when capital is intersectorally mo...
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作者：EDWARDS, S; BACHA, EL
作者单位：The World Bank; National Bureau of Economic Research
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作者：CARDENAS, M; PONTON, A
摘要：This paper extends the empirical new growth literature to the analysis of cross-departmental data from a developing country. The paper tests whether there has been any convergence in the per-capita income across regions in Colombia and discusses the role of labor migration in that context. The paper also tries to identify those factors that explain growth differentials across regions in the postwar period. The results suggest that Colombia is a very successful story of regional convergence. In...
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作者：HATZIPANAYOTOU, P; MICHAEL, MS
作者单位：University of Connecticut; University of Cyprus
摘要：Most less-developed countries (LDCs) use foreign economic aid to finance public consumption goads, or public intermediate inputs. This paper constructs a two-country general equilibrium trade model, where an income transfer that takes place between the two countries is used by the recipient to finance a public consumption good. Within this framework, the paper identifies the conditions under which the income transfer improves or deteriorates the donor country's terms of trade, and shows that t...
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作者：SCHAFFNER, JA
摘要：Two facets of attached farm labor arrangements - the 'servility' often required of attached laborers, and employers' interest in maintaining such workers' 'limited horizons' - are described and incorporated into an otherwise standard model of attached and temporary agricultural employment, substantially modifying the model's predictions. The dependence of workers' preferences on reference group behavior (which underlies employers' interest in limiting horizons) may enable employers to drive ev...
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作者：NEHRU, V; SWANSON, E; DUBEY, A
作者单位：University System of Maryland; University of Maryland College Park
摘要：The paper describes the techniques and data adopted for the construction of a new series of estimates of the stock of education in 85 countries over 28 years (1960-87). The series are built from enrollment data using the perpetual inventory method, adjusted for mortality. Estimates are corrected for grade repetition among school-goers and country-specific drop-out rates for primary and secondary students. Enrollment data series used start as far back as 1930 for most countries, and even earlie...
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作者：DEMIRGUCKUNT, A; HUIZINGA, H
作者单位：Tilburg University; The World Bank
摘要：This paper investigates the significance of non-resident taxation and other investment costs in determining equity returns in emerging stock markets. Capital gains taxes on non-residents are shown to significantly increase required pre-tax equity returns, which is consistent with a generally limited creditability of foreign capital gains taxes in the capital exporting countries. Most countries tax inflationary as well as real capital gains, which means that inflation can have an independent po...
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作者：Raut, LK
摘要：We test the R&D spillover hypothesis of the endogenous growth literature using panel data for a sample of private manufacturing firms in India over the period 1975-1986. We estimate an extended production function that includes the firm's own R&D capital stock and the spillover effect of the industry-wide R&D capital stock as inputs, as well as physical capital and labor hours. We specify models which eliminate three sources of estimation bias and flawed hypothesis tests: serially correlated e...
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作者：BASU, K
作者单位：Delhi School of Economics
摘要：The paper examines the relation between civil norms and evolution. The survival of norms in the long run may depend on the evolutionary process and natural selection. The sieve of natural selection may ensure that norms which persist must have minimal efficiency properties. This paper begins with a general discussion of evolutionary processes and the survival of civil institutions. It then presents an introductory account of the theory of evolutionary games. It is argued that the model of evol...
