U.S. agricultural exports rose slightly during the first 5 months of FY 1990, climbing 4 percent to $18 billion....More than 18 percent of the value of U.S. agricultural production was exported in FY 1989, up from. 16 percent the previous year and the highest total in 5 years ••• For the...

This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the world economy at an unspecified future date. For modest-sized shocks and conventional production technologies the effects are modest. But...

A foundation is provided for a correct and accurate analysis of the relationship between monetary values and physical dimensions in economic production. A distinction is proposed between direct and indirect substitution. Linked to this, a classification is offered of various types of...

Structural budget-balance rules with countercyclical elements appear well suited to stabilize the macroeconomic volatility of oil-exporting countries and have been used successfully by other commodity exporters. Using a global DSGE model, the efficient design of such rules is found to depend on...