Across nine transition economies, it is the young, educated, English-speaking workers with the best access to local telecommunications infrastructures who work with computers. These workers earn about 25 percent more than do workers of comparable observable skills who do not use computers....

Data from nine transition economies in Central and Eastern Europe are used to examine the role of computer adoption for returns to education. As in western economies, computers are adopted most heavily by young, educated, English-speaking workers with the best access to local telecommunications...

Training funds are used to incentivize training in developing countries, but the funds are based on payroll taxes that lower the return to training.  In the absence of training funds, larger, high-wage and more capital intensive firms are the most likely to offer training unless they are...

No abstract available.

A famous dictum in open economy macroeconomics -- which obtains in the Mundell-Fleming world of sticky prices and perfect capital mobility -- holds that the choice of the optimal exchange rate regime should depend on the type of shock hitting the economy. If shocks are predominantly real, a...

Recent emerging market crises have been characterized by two key features: (i) banking crises generally precede currency crises, and (ii) asset prices decline in advance of currency crises. This paper argues that asset prices provide a key link between banking and currency crises. It is shown...

We develop a dynamic model of a fishery which simultaneously incorporates random stock growth and costly capital adjustment. Numerical techniques are used to solve for the resource-rent-maximizing harvest and capital investment policies. Capital rigidities bring diminishing marginal returns to...

This paper characterizes anticipated changes in fleet structure, individual vessel harvesting activity, and economic performance in the pacific coast groundfish fishery under an individual fishing quota management program. Results suggest that the current fleet which consists of 117 vessels will...