We analyze the costs of trade restrictions for a small developing economy. Capital goods are only introduced on the market if it is profitable to do so. The economy evolves to a balanced growth path in which income, welfare, and the share of introduced capital goods increase if trade...

This paper fust surveys available evidence on consumption patterns in the period between the gold rushes and the fust world war (Section 1), then attempts to integrate this evidence to achieve a reasonably consistent set of estimates across the period (Section 2). The changes in the composition...

This paper represents one of the first analyses of exchange rate pass-through in a dynamic context. It explores the impact of exchange rate fluctuations in a duopoly where firms interact over an indifinite period of time.

The goal of our empirical analysis is to assess whether the changes in cigarette excise taxes and cigarette prices can be attributed to litigation brought by the states and the resulting settlements, holding other factors constant. Using pre-post as well as state excise taxes on beer as...

This paper assesses the poverty situation in the Kyrgyz Republic in September/October 1993. One aim is to provide guidelines for the creation of a social safety net by identifying the characteristics of the most economically vulnerable groups on the eve of transition to a market-based economy....