The unconditional extension of the fruits of trade negotiations under the General Agreement on Tariffs and Trade (GATT) is giving way to bilateral and other discriminatory trade agreements. Led by the United States, GATT has taken a strong position against discrimination: the benefits of...

R. G. Gregory's article on the effects of mineral discoveries on the Australian economy (Australian Journal of Agricultural Economics, August 1976) has attracted much attention. While the partial-equilibrium nature of his model has enabled it to be absorbed readily, it has the usual theoretical...

Applied general equilibrium (GE) modelling is widely used by Australian federal government agencies involved in policy making. With the possible exception of Norway, this situation seems to be unique to Australia. The present paper traces the history of the IMPACT Project, an initiative of the...

The debate on whether natural disasters cause significant macroeconomic impacts and indeed hinder development is ongoing. Most analyses along these lines have focused on impacts on gross domestic product. This paper looks beyond this standard national accounting aggregate, and examines whether...

East Asia has experienced a dramatic decrease in output growth volatility over the past 20 years. This is good news, as output growth volatility affects poor households because of coping strategies that have long-term, harmful consequences, and the overall economy through its negative impact on...

This paper analyzes the drivers and consequences of sudden stops of capital flows. It focuses on the impact of external vulnerability on the depth and length of sudden stop crises. The authors analyze 43 developing and developed countries between 1993 and 2006. They find evidence that external...

This paper analyzes the impact of banking crises on manufacturing exports exploiting the fact that sectors differ in their needs for external financing. Relying on data from 23 banking crises episodes involving both developed and developing countries during the period 1980-2000 the authors...

High youth unemployment rates may be a signal of difficult labor market entry for youth or may reflect high churning. The European and United States literature finds the latter conclusion while the Latin American literature suggests the former. This paper uses panel data to examine whether Latin...