The purpose of this paper is to discuss rules for deciding Total Allowable Catch (TAC) for Icelandic cod. For this purpose, a bioeconomic model describing harvesting and processing of cod, capelin, and shrimp in the Icelandic marine ecosystem is constructed and estimated. The model is used to...

The European Union will enter Stage Three of Economic and Monetary Union (EMU) in 1999. The development of euro financial markets and thickness externalities in the use of the euro as a means of payment will be the major factors determining the importance of the euro as an international...

We apply a new approach to a new panel data set on bilateral gross cross-border equity flows between 14 countries, 1989-96. The remarkably good results have strong implications for theories of asset trade. We find that the geography of information heavily determines the pattern of international...