This paper analyzes the factors which determine the long-run real exchange rate in Colombia, distinguishing between real and nominal determinants. Cointegration analysis is utilized to establish that the real exchange rate has equilibrium relationships with real variables which exclude nominal...

The term "international taxation" is something of a misnomer. Tax systems are almost invariably national. An exception is international tax treaties which set tax rules on a bilateral or multilateral basis. International taxation generally refers to the tax treatment of transactions that involve...

This paper uses data from the National Longitudinal Survey of Yoth to examine the effect of smoking on wages and employment. The panel nature and household structure of these data enable us to implement methods to account for differences in observed and unobserved individual characteristics that...

This paper analyzes the factors which determine the long-run real exchange rate in Argentina, Colombia and Mexico, distinguishing between real and nominal determinants. Cointegration analysis is utilized to establish that the real exchange rate has an equilibrium relationship with real variables...

This paper uses newly available quality-controlled house price indexes to estimate the extent of capitalization of both taxes and services by looking at the relationship between changes in house prices and changes in school quality, non-school spending, and taxes.

In this paper, we study the effects of consumer information on equilibrium market prices and observable product quality in the market for child care. Child care markets offer a unique opportunity to study these effects because of the existence of resource and referral agencies (R&Rs) in some...

The multilateral financial institutions have been reformed in a largely ad hoc incremental way. Discussion of a new international financial architecture provides an opportunity to reassess their roles. Although private capital markets mobiliza huge amounts of finance globally, they also display...

The IMF has been criticized for not predicting the 1997 Asian crisis and for imposing policy measures which exacerbated the situation. The IMF's policies reflect its historical experience and theoretical framework in dealing with balance of payments crises.