This paper compares the behavior of real interest rate differentials across the major countries under the Bretton Woods regime and the regime of floating exchanges that replaced it. The primary object is to investigate both the extent of market integration and its changes over time. For all...

The median age of the global population is presently increasing by nearly three months every year. Over the next couple of decades, almost every country in the world is set to experience an unprecedented increase in the share of elderly population. This development has the potential to...

The object of the paper is to explain Latin America’s growth slowdown experienced in 1998/99. To do so we used two complementary methodologies. The first one aimed at determining how much of the slowdown could be explained by specific external factors, namely, the terms of trade, international...

This papers finds evidence of fractional integration for a number of monthly ex post real interest rate series using the GPH semiparametric estimator on data from fourteen European countries and the US. However, we pose empirical questions on certain time series requirements that emerge from...

This study reports experimental market power and efficiency outcomes for a computational wholesale electricity market operating in the short run under systematically varied concentration and capacity conditions. The pricing of electricity is determined by means of a clearinghouse double auction...

El propósito de este trabajo es revisar las principales aplicaciones sobre el diagnóstico de poder de mercado que hacen referencia concreta a la industria española de manufacturas. En el marco del paradigma clásico las aplicaciones han consistido básicamente en estimaciones de ecuaciones de...

Vector autoregressions are used to model price transmission through the coffee processing chain, from producers to the world market and from the world market to consumers. A comparison is made of price dynamics against a backdrop of two very different market structures: pre-1989, producers...

This paper revisited the analytics of the welfare significance of market imperfections using the industry concentration index. It reopened the issue of how best to measure the concentration index. Specifically, it developed a new market concentration index based on the Hirschman- Herfindahl...