This paper studies the welfare implications of temporary foreign aid in the context of a simple two-country model of trade. In addition to its usual effects, a transfer of income in one period is assumed to influence the pattern of consumption of the recipient country in the following period....

This paper examines the effects of a transfer on the intertemporal terms of trade in the context of a simple two-country, two-period model. When intertemporal trade occurs because the two economies have different rates of time preference, a transfer entails an improvement in the terms of trade...

This paper studies the effects of illegal immigration and the associated expansion of the underground economy on the allocation of resources, prices, and wages of workers, both in the short run (when occupationl mobility is restricted) and in the long run (when the skill-composition of the labor...