Uncertainty is inherent in the analysis of global warming issues. Not only is there considerable scientific uncertainty about the magnitude of global warming, but even if that problem were resolved, there is uncertainty about what monetary value to assign to the costs and benefits of various...

The author devised an analytical framework to examine the implications of debt-reduction operations for the economy of a typical middle-income, heavily indebted country. A major finding is that debt-reduction policies can succeed in restoring investment and, consequently, growth in debtor...

Assuming that liquidity constraints exist in most developing countries, the majority of analysts believe that increasing real interest rates will raise the volume of lending and hence private investment. The author, focusing on the demand for capital goods, argues that the positive effect on the...

Since the 1970s, commodity prices have fallen in international markets at the same time that consumer pries have risen. The price of coffee declined 18 percent on world markets between 1975 and 1993, for example, but the consumer price for it increased 240 percent in the United States....

A perplexing question has become increasingly important: Does investment promotion really work? The authors hereby made a major step in providing a convincing answer to this question. Because many countries were not yet trying to promote investment, the authors could conduct a very simple test:...

Recent international experience has shown that excessively complex administrative procedures required to establish and operate a business discourage inflows of foreign direct investment. Morisset and Lumenga Neso present a new database on the administrative costs faced by private investors in 32...

The paper extends the literature of the dynamic rational expectations commodity storage model, to the case where speculators (speculative stocks) and processing firms (working stocks) are stockholders.So far the literature has been focused on solving the storage model for each type of...