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作者：Kaminsky, GL; Leiderman, L
作者单位：Federal Reserve System - USA; Tel Aviv University; Stockholm University; International Monetary Fund
摘要：High real interest rates have been observed in many countries for several months after the adoption of disinflation programs. While they may reflect primarily a liquidity crunch, high ex post real interest rates can also be explained in terms of an ex post error in inflation expectations that reflects a lack of credibility of the low-inflation policy. The latter hypothesis is tested using data for Argentina, Israel, and Mexico during the implementation of the stabilization programs in the mid-...
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作者：Hoff, K; Stiglitz, JE
作者单位：University System of Maryland; University of Maryland College Park; The World Bank; Stanford University
摘要：In many areas of the world, a significant part of the cost of obtaining a good or service is the cost of enforcing the contracts entailed in its provision. Pie present models of markets with endogenous enforcement costs, motivated by studies of rural credit markets. We show that subsidies may have perverse effects under monopolistic competition, increasing prices or inducing exit. Higher prices (interest rates) result from the loss of scale economies or from negative externalities among suppli...
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作者：Chao, CC; Yu, ESH
作者单位：Chinese University of Hong Kong; Oregon State University; Chinese University of Hong Kong
摘要：This paper provides a two-period, three-sector general-equilibrium model for examining the effects of a temporary increase in export-share requirements to foreign-owned firms on the trade balance and national welfare. The analysis suggests that the policy of a temporary rise in export requirements results in increases in the non-tradable prices for both periods as well as intertemporal welfare. The policy also leads to an improvement in the first-period trade balance. (C) 1998 Elsevier Science...
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作者：Taylor, AM
作者单位：Northwestern University; Stanford University; National Bureau of Economic Research
摘要：This paper is concerned with integration in the world capital market between the economies of the core and periphery in the twentieth century. It proceeds with some general observations and with a special focus on the case of Argentina. I will argue that understanding the changing relations in international capital markets offers important insights into the growth and development process, especially for the countries of the periphery. Moreover, study of the extent of market integration in hist...
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作者：McCarthy, N; de Janvry, A; Sadoulet, E
作者单位：University of California System; University of California Berkeley; CGIAR; International Livestock Research Institute (ILRI); CGIAR; International Food Policy Research Institute (IFPRI)
摘要：Households typically have to decide on following the resources which they control between individualized activities where there is common access. In this case, the ability to cooperate in the management of common access resources determines the relative profitability of the two resource bundles, hence, affecting the allocation of resources held by households to one or the other. The Mexican social sector is of this type, with land under individual jurisdiction allocated to either crops or past...
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作者：Moschos, D; Stournaras, Y
作者单位：European Central Bank; Bank of Greece; National & Kapodistrian University of Athens
摘要：Using price and wage equations, an aggregate supply relationship is derived, which relates domestic to foreign prices and output. It is shown that, among all parameters, only the degree of wage indexation matters to the question of whether the nominal exchange rate can affect competitiveness. Cointegration results support the existence of a long-run relationship among the variables of the model which is in conformity with the relationship derived in the theoretical part of the paper. Empirical...
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作者：Funkhouser, E
作者单位：University of California System; University of California Santa Barbara
摘要：I document patterns in the returns to education in Costa Rica from 1976 to 1992. The most important change during this period was that from the late 1970s to the mid-1980s, the return to education fell by about one-fourth, I construct demand and supply indices within a fixed manpower requirements framework to estimate demand and supply shifts. I find a significantly positive relationship between measures of demand for education and a significantly negative relationship between measures of supp...
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作者：Lai, ELC
作者单位：Vanderbilt University
摘要：Using a dynamic general equilibrium model of the international product cycle we found that the effects of strengthening intellectual property rights protection (IPP) in South depend cricially on the channel of production transfer from North to South. Stronger IPP in South increases the rate of product innovation, production transfer and Southern relative wage if foreign direct investment is the channel of production transfer, but has opposite effects if production is transferred through imitat...
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作者：Schaffner, JA
作者单位：Stanford University
摘要：Examination of the employer size-wage effect for males in urban Peru suggests the following. Higher wages in larger establishments do not merely compensate for higher worker quality or inferior working conditions. Size differences in the use of rising wage-tenure profiles cannot provide a market-clearing explanation for the employer size-wage effect unless workers are extremely impatient. Thus, larger employers appear to pay premiums. Unionization explains none of the premiums, and minimum wag...
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作者：Lahiri, S; Raimondos-Moller, P
作者单位：University of Essex; Copenhagen Business School
摘要：This paper considers the welfare effects of foreign aid that is tied to changes in the recipient's tariff. By constructing a three-country model with tariffs, and by allowing for changes both in the amount of aid and in the tariff rates, we are able to consider the welfare implications of two different rules of aid conditionality: (i) a rule which leaves the donor's welfare unchanged, and (ii) a rule which leaves the recipient government's total revenue unchanged. It is shown that the tying of...
