This paper discusses the influence of public ownership on trade policy instruments. We demonstrate three important invariance results. First, the degree of public ownership affects neither the level of socially optimal activities nor welfare if the government chooses optimal trade policy...

We conduct a two-stage (DEA and regression) analysis of the efficiency of New Zealand secondary schools. Unlike previous applications of two-stage semi-parametric modelling of the school Òproduction processÓ, we use Simar and WilsonÕs double bootstrap procedure, which permits valid inference...

We put forward a plausible explanation of African financial underdevelopment in the form of a bad credit market equilibrium. Utilising an appropriately modified IO model of banking, we show that the root of the problem could be unchecked moral hazard (strategic loan defaults) or adverse...

This study analyses long-run level relationships between total factor productivity (TFP) and a set of variables (the degree of openness of an economy, the different roles of government, and human capital) that are hypothesised as the major factors that drive TFP in the High-Performing Asian...

Deviations from the Law of One Price across US cities are smaller than corresponding international deviations, but nevertheless substantial. We find that a proportion of these deviations can be explained by asymmetric responses to federal monetary policy shocks, and that a large part of the...

This paper develops an oligopolistic model of international trade with heterogeneous firms and endogenous R&D to examine how trade liberalization affects firm and industry productivity, as well as social welfare. We identify four effects of trade liberalization on productivity: (i) a direct...

Students' non-return is a specific type of brain drain. This paper is an empirical study of the determinants of students' return intention in New Zealand. Applying a binary logit model on a comprehensive set of survey data, this study finds that initial intention prior to leaving for abroad is...

This paper examines international business cycle transmission within a two-country dynamic stochastic general equilibrium model featuring an endogenously determined trade pattern. In contrast to existing literature, this model distinguishes between non-traded final goods and traded inputs. The...

In the extensive empirical literature on aid effectiveness, aid is always measured as a share of GDP. However, measuring aid in real dollars per capita is also consistent with standard growth theory. We show that the choice of denominator makes an enormous difference to the sign and significance...

This paper analyzes the choice of commodity tax base when countries set their taxes non-cooperatively in a two-country symmetric reciprocal dumping model of intra-industry trade with free entry and trade costs. We show that the consumption base (destination principle) dominates the production...