In the last decade, Iranian authorities have implemented a number of trade reforms and export stimulating policies. They have also tried to stabilize the dollar exchange rate and eliminate the black market premium. These policies have had little, if any, lasting favourable effect on non-oil...

This paper constructs a simple general equilibrium two-country model with flexible exchange rates, specialization in production, and oligopolistic firms. The model is simulated in order to investigate how returns to scale and imperfect competition influence the process through which the...

We examine how openness interacts with the coordination of consumption–leisure decisions in determining the equilibrium working hours and wage rate when there are leisure externalities (e.g., due to social interactions). The latter are modelled by allowing a worker's marginal utility of...