The maize-oriented agricultural economies throughout Southern Africa are in fundamental transition. Increased recognition of the costs of historical controls on pricing and marketing already has led to partial maize market liberalization in several countries in the region. However, there is...

In a financial market where agents trade for prices in the short-term and where news can increase the uncertainty of the public belief, there are strategic complementarities in the acquisition of private information and a continuum of equilibrium strategies if the cost of information is...

This paper develops a dynamic, life-cycle, general equilibrium model to study the interdependent demographic, fiscal, and economic transition paths of China, Japan, the U.S.,and the EU. Each of these countries/regions is entering a period of rapid and significant aging that will require major...