In this paper I emphasize the contribution of technical change towards productivity growth in explaining the relative East Germany-West Germany performance during the post-world war II era 1955-95.

In this paper I use a simple class of decision problems of considerable practical importance to show that ambiguity is both common and consequential.

We investigate an overlapping generations monetary economy in which agents'expectations depend upon backward looking predictors of the future price level.

Why have government found reciprocal trade agreements such as GATT to be a more effective means of facilitating trade liberalization than unilateral initiatives? We provide in this paper a analytical framework for the study of reciprocal trade agreements.