We study labor productivity in agriculture within a two-region, two factor and two commodity economy. Increases in productivity can lead to higher or to lower agricultural prices, depending on the internal structure of the economy. We give necessary and sufficient conditions for either outcome;...

This work is a PhD dissertation, written at the Department of Economics, McGill University. The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of...