Trade in grandfathered individual transferable quota has been argued to inevitably lead to a Transitional Gains Trap whereby government reallocation of quota that was initially gifted becomes politically impossible once the original beneficiaries have been succeeded by fishers who paid for their...

Trade in grandfathered individual transferable quota has been argued to inevitably lead to a Transitional Gains Trap whereby government reallocation of quota that was initially gifted becomes politically impossible once the original beneficiaries have been succeeded by fishers who paid for their...

Banks in developing economies often face a mismatch in the currency denomination of their liabilities (foreign currency denominated debt) and assets (domestic currency loans to domestic borrowers). We study the effect of this mismatch on business cycles and monetary policy in a sticky-price,...

Using the theory of optimal local currency pricing, this paper constructs a structural equation to estimate the rate at which foreign producer prices pass through the local currency prices of imported goods in the U.S. This can be viewed as measuring exchange rate pass-through, in line with...