The present study applies purpose-built dynamic computable general equilibrium models for Ghana and Kenya with a disaggregated country-specific representation of the power sector to simulate the prospective medium-run growth and distributional implications associated with a shift towards a...

Building upon earlier work by Willenbockel (2013; MPRA Paper No.51501), this study provides an extended ex-ante computable general equilibrium (CGE) assessment of the Tripartite Free Trade Agreement between the member states of the Common Market for Eastern and Southern Africa, the East African...

An alternative theoretical setting is presented to characterise the money demand and the monetary equilibrium. Two main hypotheses are stated that contradict the assumptions normally sustained by scholars and policy-makers: National output is assumed to be a random variable, and people are...

This paper introduces endogenous labour market imperfection in an otherwise Heckscher-Ohlin-Samuelson (HOS) model. It demonstrates that this framework satisfies the Stolper-Samuelson theorem and the magnification effect and that it is capable of producing certain trade-theoretic results which...

This paper explains the existence of intersectoral wage differential in a developing economy in terms of trade union behavior in the formal sector industry and analyzes its role in predicting the outcomes of trade and investment reforms on welfare. It provides theoretical explanations of certain...

We extend the benchmark model of DMP in a two-sector general equilibrium framework by introducing a frictionless segment of the labour market. We also examine the effects of trade reforms and labour market reforms on equilibrium rate of unemployment and wage inequality in our stylitzed economy....

In December 2001, a Bilateral Trade Agreement (BTA) came into effect that normalized economic relations between the United States and Vietnam. The resulting surge in trade surpassed most expectations. The impact of the BTA on FDI, however, has been less visible, especially with regard to U.S....

Rebelo's two-sector endogenous growth model is embedded within a two-country international trade framework. The two countries bargain over a trade agreement that specifies: (i) the size of the foreign aid that the richer country gives to the poorer one; (ii) the terms of the international trade...

This theoretical note examines the usefulness of the Pigouvian tax policy in dealing with negative production externalities and in improving social welfare in a small developing economy. A two-sector, full-employment general equilibrium model with exogenous labour market imperfection is used for...

This paper provides a tractable continuous-time constant-absolute-risk averse (CARA)-Gaussian framework to quantitatively explore how the preference for robustness (RB) affects the interest rate, the dynamics of consumption and income, and the welfare costs of model uncertainty in general...