Within a general equilibrium framework of a developing economy with a foreign owned factor of production, this paper questions whether the informal-formal sector relationship is pro-cyclical/complementary - expansion or contraction in one necessarily implies an expansion or contraction in the...

Within a general equilibrium framework of a developing economy with a foreign owned factor of production, this paper questions whether the informal-formal sector relationship is pro-cyclical/ complementary – expansion or contraction in one necessarily implies an expansion or contraction in the...

This paper compares the deterministic and stochastic predictors of nonlinear models when the disturbances are small. Large-sample properties of these predictors have been analyzed extensively in the econometric literature. While the deterministic predictors are asymptotically biased, there are...

We explore two hitherto poorly understood characteristics of the human-trafficking market—the cross-border ease of mobility of traffickers and the elasticity of buyers’ demand. In a model of two-way bargaining, the exact configuration of these characteristics is shown to determine whether...

Despite the merits of eco-labeling as a consumer information and market-based environmental policy alternative, the promise that green consumerism holds in encouraging environmentally conscious production decisions also raises concerns over whether eco-labeling deters the market access of...

In many countries, the authorities turn a blind eye to minimum wage laws that they have themselves passed. But if they are not going to enforce a minimum wage, why have one? Or if a high minimum wage is not going to be enforced one hundred percent, why not have a lower one in the first place?...

This paper develops a theory of employment guarantees when labor markets are imperfect and when the credibility of government policy announcements could be in doubt. The basic feature of an EGS is that any individual who satisfies a set of specified criteria is guaranteed public employment at a...

The book examines the achievements of the Uruguay Round of trade negotiations in reforming the world trading system and the challenges to future reforms. It begins with an overview of the genesis of the world trading system and moves on to examine the key issues as they relate to developing...