This paper examines the social economic value of the Greenland off-shore shrimp fishery. The contribution of the fishery to the economy is examined using a cost-benefit analysis where the objective of the report is to examine the current state of the fishery rather than possible changes, which...

This paper investigates optimal indexation in the New Keynesian model, when the indexation choice includes the possibility of partial indexation and of varying weights on rational and lagged indexation. It Önds that the Calvo contract adjusted for rationally expected indexation under both...

Calvo contracts, which are the basis of the current generation of New Keynesian models, widely include indexation to general ináation. We argue that the indexing formula should be expected ináation rather than lagged ináation. This is likely to optimise the welfare of the representative agent...

In this paper we do a couple of things: discussing a way to measure the welfare cost of country risk, and measuring it for Argentina in the period 1875-2006. There are two conclusions: a) the welfare cost of Argentine risk has been huge: for example, in the period 1976-2006 it was around 20% of...

The armed conflict over economic and political power in Colombia has led to the massive displacement of people living in the areas of violence. The design of appropriate policies of prevention, assistance, and resettlement requires improved information on the determinants and effects of...

We propose a new microeconomic explanation for the divergent experiences of economies in forming human capital. We suggest that the positive effect of a longer life expectancy on human capital formation arises from two separate effects: a life expectancy effect and a prolonged intergenerational...

This paper attempts to assess three main issues on Peruvian telecommunications technology: what are the main variables that explain the demand for access to telephone services; how important is access to telephone services in explaining the transition out of poverty, and what are the consumption...

This paper develops a one sector, two-input model with endogenous human capital formation. The two inputs are two types of skilled labor: engineering, which exerts a positive externality on total factor productivity, and law, which does not. The paper shows that a marginal prospect of migration...

This paper develops a model of voluntary migration into degrading work. The essence of the model is a tension between two bads that which arises from being relatively deprived at home, and that which arises from engaging in humiliating work away from home. Balancing between these two bads can...