The rapid increase in international trade and financial integration over the past decade and the growing importance of emerging markets in world trade and GDP have inspired the IMF to place stronger emphasis on multilateral surveillance, macro-financial linkages, and the implications of...

The apparent contradiction between trade liberalization and continuing high trade tax revenue raises the important question of how, precisely, the one affects the other. Although policymakers generally recognize the long-term benefits of trade liberalization, some have argued for at least a...

We explore market dynamics generated by the Santa-Fe Artificial Stock Market model. It allows to study how agents adapt themselves to a market dynamic without knowing its generation process. It was shown by Arthur and LeBaron, with the help of computer experiments, that agents in bounded...