A number of recent papers have raised serious questions about the validity of the German dominance hypothesis, using Granger (temporal) causality tests. If Germany dominates within the European Monetary System, then German monetary policy, measured by either money stocks or interest rates should...

Surveys the literature on the role of exports in economic growth and provides additional qualifications concerning the measurement of the different channels through which exports may contribute to economic growth. Our framework shows that the most commonly used supply-side approaches have...

Present some empirical evidence on long-run Purchasing Power Parity (PPP) using a sample of annual data covering the period 1900-1987. Three exchange rates are used in the analysis: the dollar, yen and French franc against the pound. It is shown that PPP does hold in the long run and that is...

A recurrent concern of researchers who measure the cost of protection is that welfare estimates based on models with highly aggregated sectors of the economy in question will understate the true cost of protection if the tariff system is not uniform. Uses the 1988 tariff schedule of the US and a...

Survey data on expected and actual prices received by individual vegetable growers in Florida, Michigan and Texas in 1990 are used to test the rational expectations hypothesis. The use of individual grower data overcomes many of the issues that have limited previous tests of this hypothesis in...

Investigates empirically the importance of buyer characteristics as well as product and service classifications on the informational content of advertising supply by sellers utilizing Yellow Pages advertisements from six US cities. The analysis and tests extend the categories used in previous...

Models fiscal policy interactions between fiscal authorities and private investors in the foreign exchange market in a game-theoretic framework. Using a two-period game, I consider the credible and noncredible announcements of the domestic fiscal authority with respect to the stance of its...

Examines the impact of the sugar tariff-rate import quota programme on the United States economy. Uses a computable general equilibrium model composed of 14 producing sectors, 14 consuming sectors, six household categories classified by fincome, and a government. Examines the effects of...