The quantitative implications of a hike in the administered prices of three petroleum products (liquefied petroleum gas, petrol and high speed diesel oil), which are vital inputs to most of the activities in the economy, are studied using a static multi-sector multi-agent applied general...

The topic of economic growth and convergence of countries has been an active topic in the 1990's. This paper investigates the question of whether there is any empirical evidence that countries are converging, with respect to their relative incomes, over time. To test for convergence, the...

We present a model of endogenous institutional change that rationalizes reforms that have taken place in the context of economic crisis and drastic political change. Most of these reforms have been initiated by powerholders, even though they have ended worse-off relative to the status quo. The...

This paper analyzes the macroeconomic policies of Taiwan since 1980, to set the framework in which trade and industrial policy took place.

The purpose of this paper is to examine the pressures that globalization exerts on industrial relations systems in South Asia, how industrial relations and human resources (IR and HR) are changing in response, and to conclude with a vision of some future directions for IR and HR policy and...

This Chapter reviews various interactions between the distribution of income across individuals and factors of production on the one hand, and aggregate savings, investment, and macroeconomic growth on the other.

In this paper we explore whether the changing composition of output in response to technology shocks can play a significant role in the propagation of shocks over time. For this purpose we study two multisector RBC models, with two and a three sectors. We find that, whereas the two sectors model...

A large literature has identified a variety of "ancillary variables", such as political instability, income distribution, and financial development as important determinants of income growth in cross-sectional studies. This leaves open the question of whether these variables influence growth...

This paper explores the effect of policy variability (or frequency of regime switching) on economic growth and welfare. We study a one sector growth model where investment can be subsidized at either a positive rate or not subsidized at all.

This paper discusses some of the recent developments in growth theory, doing so from the perspective of a small open economy. After setting out a basic generic model, we show how it may yield two of the key models that have played a prominent role in the recent literature, the endogenous growth...