Causal observation shows that many developing countries adopt certain strategic trade measures such as export subsidies and domestic currency devaluation to promote their exports. Are there any economic rationality behind these measures? The answer is yes. Using a general equilibrium model, we...

Tension exists between national accounting practice (in which capital gains are not counted as part of national income), and the theory of national income definition and interpretation (in which capital gains are often argued to be a component of national income). Much of this theoretical work...

This paper provides a comprehensive model of household waste management policy with three interacting parties: a firm, a household and an environmental regulator. The regulator chooses the environmental tax, the household waste collection charge, monitoring of illegal waste disposal by the...

An issue that arises in applications involving the ARCH-in-Mean (ARCH-M) model is whether or not the error variance is constant over time. A proper statistical formulation of this as a test of hypothesis presents two difficulties. First, the model does not satisfy the standard regularity...