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Do the Benefits of Fixed Exchange Rates Outweigh Their Costs?
Fixed exchange rates have been a bad bargain for the CFA member countries. Under reasonable tradeoffs between output and inflation, these countries would have been better off having the flexibility to adjust to external shocks.
Macroeconomic Structure and Policy in Zimbabwe
A macroeconomic general equilibrium model for Zimbabwe.
How Conflicting Definitions of "manufactures" Distort Output and Trade Statistics
Inconsistencies in definitions of "manufactures" used to compile output and trade statistics produce a discrepancy of $60 billion in estimates of developing country exports. Clearly, international organizations must resolve these discrepancies.
Primary Commodity Prices
Commodity markets are of considerable interest and importance to economists, econometricians and dealers. This book reports the proceedings of an international conference on 'Primary Commodity Prices: Economic Models and Policy', held in London under the auspices of the Centre for Economic Policy Research in March 1989. A range of papers by leading international authorities covers topics such as expectations formation in econometric commodity market models; price determination in the market for aluminium; the estimation of dynamic disequilibrium models with rational expectations; and a comparison of forward markets and buffer stocks as commodity earnings stabilizers. A key feature of this stock is its development of the policy implications of theoretical and empirical work in the field of commodity economics. Most papers are accompanied by discussant's comments to draw out their technical and policy implications. The book's readership will include commodity economists, commodity market practitioners and policy analysis, as well as professionals and advanced students interested in the fields of applied econometrics, economic development and international trade.
Enforcement of Canadian "unfair" Trade Laws
An "economywide" perspective-- examining all allegations of "unfair" dumping and subsidization by comparing the impact on economic efficiency of existing foreign pricing practices with the impact of alternate forms of intervention-- would provide a more rational way of responding to problems that trade laws now deal with.
Framework for Macroeconomic Analysis
Models of the RMSM-X genre can-- while preserving their logical structure-- incorporate behavioral equations and provide useful insights into policy actions that would correct internal and external macroeconomic imbalances.
