This paper shows how a dynamic multisector equilibrium model can be foraulated to be able to analyze the optimal borrowinG policy of a developing country. It also describes how a non-linear programming model with the proposed features was constructed for Brazil. And discusses the optinal...

The structure introduced by Armington (1969) has been used to analyze trade policy in partial and general equilibrium models. The Armington elasticities, the degree of substitution between domestic and import goods are known to be important, but are seldom estimated empirically. Therefore, we...

A specification for the demand for money in economies where inflation is high and stochastic is presented. It uses a generalized functional form and includes the variance of the inflation rate as an explanatory variable, and is estimated for Brazil in the period 1974/94 under the assumption that...