This paper estimates the impact of three types of qualitative difference in Taiwanese vocational schools on students' achievement institutional investment, student background and learning processes. This analysis is based on multi-level modelling, which is a new statistical technique developed...

We compare the welfare of different combinations of monetary and currency policies in an open-economy macroeconomic model that incorporates two important features of many small open economies: a high level of vertical international trade and a high degree of exchange rate pass-through. In this...