This paper presents model simulations to quantify the effects of different stabilization packages in the distribution of income and wealth. The simulations suggest that a sharply contractionary stabilization package has a major adverse impact on the distribution of income. The shifts in...

Real exchange rate appreciation usually accompanies stabilization programs based on the exchange rate. One thing that causes the real exchange rate to appreciate is the capital inflows that follow liberalization of the capital account and the financial market. Capital inflows cause the exchange...

The use of computable general equilibrium (CGE) simulation models for policy analysis has become widespread. However, such techniques are not well suited to economywide analysis in developing countries. Instead, simulation models relying on"borrowed"parameter estimates have been used for a wider...

The authors of this paper use simple statistical methods to measure the effect of adjustment lending (AL) on economic performance. Using eight economic indicators, they rely on traditional"before-after"comparisons of AL recipients and a control group of 62 countries. How have countries under...

The application of index numbers to disaggregated Korean footwear exports during 1974-85 suggests that binding voluntary export restraints (VERs) led to significant price increases but not to the upgrading of quality predicted in earlier theoretical analyses. The results in this paper were...