The purpose of this paper is to explain the relative magnitude of the impact effect of monetary disequilibria on the balance of payments and the domestic rate of inflation, and to estimate it for a set of Latin American countries. The estimated model allo

The economic implications of the outflow of highly educated individuals from LDC’s, i.e., the "external" brain drain, has received considerable attention in the developing literature. This paper draws attention to what might, by analogy, be called the "in