In this paper, I discuss the reasons for Costa Rica's economic performance over the last quarter of a century. Three complementary sets of policies (investments in human capital, careful stabilization, and an intelligent and aggressive integration into the world economy) explain the successful...

Abstract We develop a two-country, two-currency, search-theoretic model of monetary exchange, extending previous such models by endogenizing prices using bargaining theory. We analyze features of the environment that make it more likely that a given money circulates internationally. We show the...

The Doha Round differs from previous multilateral rounds since a number of participating countries are negotiating and implementing bilateral and regional free trade agreements (FTAs) at the same time as they are negotiating multilaterally. The standard arguments against FTAs involve that they...