This paper analyses, using a comparative-static general equilibrium model built along neoclassical lines, a range of devaluation, monetary and wage policy mixes for the Chilean economy. By quantifying the short-run implications of each policy mix for key economic variables at the macroeconomic...

A feature of the economies of many less developed countries (LDC's) is their heavy reliance for foreign exchange earnings on a few export commodities whose markets are characterised by low income elasticities on the demand side and whose supply is continually expanding under the influence of...

The large OPEC-engineered real world oil price increases of the early and late 1970?s have set in train, via a highly integrated international trade and finance system, significant resource transfers from energy-poor to energy-rich countries. In accommodating these resource transfers both energy...

The OPEC Cartel's spectacular success in raising real world oil prices over the past decade has brought about substantial net resource transfers from energy poor to energy rich countries within the world economy. In accomodating these resource transfers both energy exporting and importing...