A tractable general equilibrium model of a small open economy producing many goods with two primary inputs is developed. Firms are large in that their output decisions affect their costs. One sector produces many different goods under variable costs, which arise through a link between output and...

The effects of exchange rates and risk on major commodity exporters are examined in markets constructed from the top five importers and top three exporters from 1961 to 2000. Depreciation typically stimulates exports but the impacts vary considerably. Exchange risk has virtually no negative...

An oil tariff has potential to alter the pattern of production and income distribution across productive factors. This paper use a general equilibrium model of production and trade with inputs of capital, labor, and international energy to examine the effects of an oil tariff. Under a range of...

This paper pictures the global influence of various patterns of returns to scale in the general equilibrium model of production with two factors and two goods. Constant, increasing, and decreasing returns to scale at the sectoral level are explicitly specified. The changing slope and curvature...

Fixed effect time series effect models are used to analyze the spatial and time series pattern of the effects of subsidies on manufacturing income across twenty counties in Alabama from 1970 to 1999. The results from the fixed effect model indicate that median populated counties performed better...

With third country bonds added to the monetary model of exchange rate news, third country news would have a theoretical effect on exchange rate news. The present paper uncovers empirical evidence of third country (USA) news for a number of exchange rates. Further, insignificant income, interest...