This paper examines the effects of money financing of deficits on capital accumulation and growth in a framework where inflationary finance is determined endogenously through a dynamic game between an optimising central bank which attempts to minimise the inflation-tax and a rational private...

This paper analyzes the measurement of effective protective rates when there is joint production. It shows that special attention is required when tradables are jointly produced with non-tradables, and especially when there are significant changes in the prices of non-tradables. Input-output...

This paper analyzes the measurement of effective protective rates when there is joint production. It shows that special attention is required when tradables are jointly produced with non‐tradables, and especially when there are significant changes in the prices of non‐tradables....

The standard measures of effective protection calculate EPRs by reference to an activity's principal product. In many activities by-products which have a positive economic value are important. Revises the standard measures to allow for the incorporation of by-products and uses an example to...

A recurrent concern of researchers who measure the cost of protection is that welfare estimates based on models with highly aggregated sectors of the economy in question will understate the true cost of protection if the tariff system is not uniform. Uses the 1988 tariff schedule of the US and a...

Examines the impact of the sugar tariff-rate import quota programme on the United States economy. Uses a computable general equilibrium model composed of 14 producing sectors, 14 consuming sectors, six household categories classified by fincome, and a government. Examines the effects of...

Purpose – The purpose of this paper is to explain how eventual pressures from national lobbies may lead governments to shift from an optimal into a non‐optimal innovation policy. Design/methodology/approach – A theoretical model is developed in order to examine and explain the growth and...

Demonstrates the implications of imperfect substitutability between domestic and imported final goods for the determination of second‐best ominal and effective tariffs in a general equilibrium setting. The analysis of second‐best interventions for given policy distortions extends that by...

Some recent research has reported results more favourable to long‐run purchasing‐power parity (PPP) for exchange rates within the European Monetary System (EMS) than for those outside it. This is inconsistent with the predictions of theories that regard the EMS as a means of acquiring...

Examines the impact of the sugar tariff‐rate import quota programme on the United States economy. Uses a computable general equilibrium model composed of 14 producing sectors, 14 consuming sectors, six household categories classified by fincome, and a government. Examines the effects of...