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The authors propose a new model of trade between developing and advanced economies to capture the effects of important asymmetries in the organizations of their industries. This model demonstrates how the industrial structure of a developing economy can evolve to produce what the authors call...
Persistent link: https://www.econbiz.de/10005217871
A new microeconomic explanation for the divergent experiences of economies in forming human capital is proposed. It is suggested that the positive effect of a longer life expectancy on human capital formation arises from two separate effects: a life-expectancy effect and a prolonged...
Persistent link: https://www.econbiz.de/10005321493
This paper studies currency substitution in an environment where agents' inflation tax-evasive demand for foreign money is balanced by the concern for the possibility that the government may impose economy-wide capital controls under which foreign currency transactions are costly. Under the...
Persistent link: https://www.econbiz.de/10005695149