Sebastian Edwards and Alejandra Cox Edwards in their analysis of the Chilean economic liberalization argue that both capital inflows and outflows may have harmed the Chilean economy. They model the Chilean economy as using labor and fixed factors to produce traded and non-traded goods subject to...

Several authors have argued that if exporting firms anticipate a voluntary export restriction in a future period, and they expect VERs to be allocated in proportion to past exports, then they have an incentive to dump in the earlier period. In this paper we ask: How does a regime characterized...

This paper compares the risk and return of investing in equity mutual funds provided by the world's two largest mutual fund families: Fidelity and Vanguard over a long horizon. We believe this will help guide investors; this study is an example of the calculations that mutual fund companies...

This article conceptually extends a previous analysis of the impact of Offshore Assembly Provisions (OAP) upon Effective Rates of Protection (ERPs). Allowance is made for the fact that the OAP incentive to foreign assemblers to use US components will bid up the price of the components....

This paper examines the major interest groups in the debate over allowing the wholesale re-importation of prescription drugs through the Pharmaceutical Market Access Act. By making use of the logit model, we see the effects that each of these groups has had on the voting behavior of the 108 th...

We consider an economy (e.g. Chile 1973-83) with a minimum wage sector and a free sector, and a tax on labor earnings. The supply of labor depends positively on the wage. Jobs in the minimum wage sector are allocated by lottery. In such a model a minimum wage may increase employment and output...

Sugar growers have been capturing substantial rents from the U.S. sugar program. Despite well-documented huge welfare losses of this program, legislators have always voted against phasing it out. This paper uses Tobit analysis to explore the determinants of campaign contributions from the sugar...