Using a general equilibrium model of a small developing economy, the authors demonstrate that the introduction of asymmetric adjustment costs makes the rate of urban employment respond to an exogenous shock in the aggregate capital endowment, raising the possibility of several counter-intuitive...

This paper develops a two-country model of endogenous growth and international trade in intermediate goods. In autarky just one of the economies enjoys sustained growth. The trade situation may be characterized by complete specialization of both countries, or by incomplete specialization of the...

This paper studies the relationship between the official and parallel exchange rates, using cointegration, Granger causality, and reduced form methods on data from three Caribbean countries, Jamaica, Guyana, and Trinidad & Tobago, for the period 1985-93. Where the central bank follows a passive...

This study asks whether, in a rapidly changing world, the estimated proportion of the world's population with income below US$1 (adjusted according to purchasing power parity) per day is still a good measure of trends in poverty. It argues that strong economic growth in nations such as China...

In this paper, we modify the Harris-Todaro model of migration to incorporate the impact of human capital, housing stock, and the availability of publicly provided goods such as healthcare and road provision in order to analyze the determinants of migration in different regions of Poland. We...

This paper studies the recent boom and bust in Vietnam's coffee economy. Data from smallholder coffee farms in the Central Highlands are used to examine responses to a drop in producer coffee prices. A multinomial logistic regression model is used to identify several factors associated with four...

Currency depreciation has been studied conventionally in terms of three hypotheses-the elasticities approach, the monetary approach and the absorption approach. In this paper we offer another hypothesis called the price approach, wherein the balance of payment disequilibrium results from an...

The authors apply two complementary empirical criteria to eight new member states (NMSs) of the European Union to assess how ready they are to adopt the euro. As a first step, they recover demand and supply shocks and calculate the social losses implied by the two relevant exchange rate regimes:...

Differences in the effects of worker characteristics on wages in Panama at different points of the conditional wage distribution are investigated. Public sector employment increases wages relatively more at lower quantiles. Within the public sector, employment in that sector increases wages of...