Recent literature has focussed on institutional degradation and revenue volatility as major sources of a resource curse. Formerly centrally planned countries may be especially vulnerable due to their mutating institutions and macropolicy inexperience. This paper examines these issues through...

In Shapiro and Pincus (2008), we proposed a method for arriving at just compensation of private owners of urban land, in cases like Kelo v New London, in which government has plans to use eminent domain to `take' private properties, to be assembled into a single parcel for some public purpose....

Trade theorists and policymakers have until recently ignored trade costs, but as tariffs have fallen it is apparent that trade costs are a significant obstacle to trade and they are not simply determined by geography or commodity characteristics. We analyse country-by-country variations in trade...

In this paper, we investigate whether similar improvements are observed when we have a non-sample information regarding the nuisance parameters in the testing problem. It is shown under several realistic regularity conditions, that tests based on inequality constrained estimates of nuisance...

Introduction This paper seeks to reconcile the post Keynesian and New Keynesian explanations of credit rationing. It argues that this can be done if choice theory is made more general than either post Keynesian or New Keynesian analysis currently allows. A more general theory of choice can be...