We compare the welfare costs of tax distortions of labour supply in one and two member household discrete and continuous labour supply (leisure consumption) choice models. In the discrete models taxes induce a large response from a subset of the population, while the majority of the population...

Impacts of financial deepening on economic growth are examined with conventional financial asset GDP ratios, Shapley-Shubik core and general equilibrium modelling. It focuses on simultaneity between them rather than one way causation as found in the traditional McKinnon-Shaw analyses. General...

Multinational corporations [MNCs] usually engage in foreign direct investment [FDI] to take cost advantages of producing abroad to negate the need for licensing or subsidiary production. At the macro level, FDI accounts for significant proportions of MNCs total investment and has discernible...

If two disjoint country service networks involving a small and large country are connected as part of international liberalization in the presence of network externalities, the per capita gain for the small country from access to a large network will be large, and the per capita gain for the...

We discuss the redistribution effects of transfer using a conditional-choice general equilibrium model. We calibrate it to UK data for the early 2000s. Results indicate that a money-metric measure of the welfare value of transfer received by the bottom decile of UK households equals 17% of the...

Global Transformations: Politics, Economics and Culture. By David Held, Anthony McGrew, David Goldblatt and Jonathan Perraton. Cambridge: Polity, 1999. Pp.xxiii + 515. £59.50 and £16.99. ISBN 0 7456 1498 1 and 1499 X Housing and Finance in Developing Countries. Edited by Kavita Datta and...