This paper investigates the role of industry-specific human capital (ISHC) in determining industry wage structure. The model presented in this paper distinguishes between knowledge labour and physical labour. Knowledge labour is physical labour embodied with ISHC. It is postulated that more...

This paper adds a new perspective to the literature of monetary standard by establishing a link between re-exports and the choice of nominal anchor. The model developed is applied to address the controversy over the US dollar versus the renminbi as the nominal anchor for Hong Kong, in the...