This paper extends the previous results in Bessler and Yu (1994) on the official and black market exchange rates in Brazil. Rather than taking instantaneous data transformations to produce a stable long-run equilibrium relationship as Bessler and Yu did, the possibility of structural changes in...

In this study, I provide corrections to the estimation results reported by Balassa (1963) on testing the implications of the Ricardian model of international trade. While all of his estimation results have changed, his main conclusions still pertain. I conjecture that the errors are most likely...