This paper studies the role of transfers among groups within a country as well as among countries in a two level game of nternational trade negotiations. We show that in order to realize the intended transfer in the presence of asymmetric information on the states of recipients (and donors), a...

This paper studies the role of transfers among groups within a country as well as among countries in a two level game of international trade negotiations. We show that in order to realize the intended transfer in the presence of asymmetric information on the states of recipients (and donors), a...

Evidence suggests that Japan's basic research levels seem to lag behind that of the USA. This paper seeks to investigate (1) the reasons for this difference in the context of societal impact on the creation of intellectual products, (2) the influence of the different legal systems as they relate...

We present a simple monetary model (with sticky prices) to highlight spillovers to output gaps. We then show using a sequence of nonstructural VARs and a Global VAR, the effects of monetary policies measured using short-term interest rates and money base stocks. We conclude that money base...