TL;DR: This article found that livestock transactions play less of a consumption smoothing role than often assumed, and that livestock sales compensate for at most thirty percent, and probably closer to fifteen percent of income shortfalls due to village-level shocks alone.

TL;DR: In this paper, the authors investigate the effects of trade liberalization on competition and productivity in India and find strong evidence of an increase in competition, as reflected in the reductions in price-marginal cost markups.

TL;DR: In this paper, a quality ladders product cycle model is proposed to explore how the quality of technology transferred through FDI is linked to innovation and imitation when the absorptive capacity of LDCs is limited.

TL;DR: The authors used a dynamic general equilibrium model of the international product cycle and found that the effects of strengthening IPP in South depend cricially on the channel of production transfer from North to South.

TL;DR: In this paper, a dynamic programming model and simulations are presented to analyze entry into asset accumulation under income risk, showing that households with lower endowments are less likely to own cattle.

TL;DR: In this article, the authors present an analytical framework and apply it to panel data from Peru to identify which socioeconomic groups are most vulnerable to welfare declines during a macroeconomic shock.

TL;DR: In this article, the authors show that economic volatility and the lack of financial markets have a negative effect also on the accumulation of human capital, drawn from cross-country and panel regressions.

TL;DR: In this article, the authors estimate the distribution of rates of time preference from the wealth data in the Survey of Consumer Finances 1992 and a flexible life-cycle model of consumption under income uncertainty.

TL;DR: In this article, the authors investigated the role of spatial integration and transport costs in explaining price changes in Ghana and introduced a model of price formation and market integration that incorporates the price transmission process between local and central markets and also captured the implications for volatility of local prices.

TL;DR: The authors showed that when such borrowers differ in their likelihood of default, and the moneylenders are asymmetrically informed about the client-specific degree of risk, the policy of providing cheap credit through the formal sector can generate adverse ''composition effects'' which worsen the terms of credit and the availability of loans in the informal sector.

TL;DR: In this article, the authors build a non-representative agent intertemporal macroeconomic model that rationalizes this phenomenon as the equilibrium outcome of interaction between multiple groups that have common access to aggregate income and conclude that institutional reform may hold the key to improving the cyclical behavior of savings in Latin America.

TL;DR: In this paper, the authors argue that the popular view that domestic and foreign saving are positively related in Asia and negatively related in Latin America does not discriminate between trends in domestic saving (which are very different in the two regions) and the cyclical component of saving, which is linked to capital flows.

TL;DR: In this paper, the authors study the integration in the world capital market between the economies of the core and periphery in the twentieth century and argue that understanding the changing relations in international capital markets offers important insights into the growth and development process.

TL;DR: In the last 10 years, Chile's overall economic performance has been remarkable in many respects, including a significant and sustained increase in domestic savings, to figures around 26% of GDP.

TL;DR: In this article, an examination of the employer size-wage effect for males in urban Peru suggests that higher wages in larger establishments do not merely compensate for higher worker quality or inferior working conditions.

TL;DR: A longitudinal data set from the Philippines is employed to estimate a structural model of the determinants of infant mortality, and results indicate significant correlations across the equations' error terms.

TL;DR: In this paper, a stochastic frontier approach is used to compare changes in technology and technical inefficiency among the three fleets in the period 1988-1994, finding that the level of productivity of the joint venture fleet is higher than that of the domestic fleet.

TL;DR: In this article, the authors developed a simple monetary model to study the effects of tax evasion on the optimal inflation tax and showed that while there are theoretical reasons for positive optimal inflation rates, the effects are quantitatively small, even in countries with large underground sectors.

TL;DR: In this paper, a two-period game of incomplete information where voters try to pick the most competent government, and inflation (which signals lack of competency) can be lowered by the government in the short run through foreign debt accumulation.

TL;DR: This article examined the composition of trade between the United States and eight Asian Pacific economies from 1962 to 1992, and found that the eight bilateral trade relationships showed both increasing specialization over time, and a sequence from Japan to the four tigers, Korea, Taiwan, Singapore and Hong Kong, and then to the remaining three East Asian economies, Malaysia, Indonesia and Thailand.

TL;DR: The Rivera-Batiz model is generalized in another direction to examine the effects of emigration upon the welfare of remaining residents when foreign capital is employed in the economy and it is found that emigration improves the welfareof remaining residents if both they and the migrants have identical preferences and factor endowments.

TL;DR: This paper showed that price stability improves the utilization of capital and increases the full-employment level of output in the long run, even though output decreases initially, and that successful price stabilization increases the rate of growth of output per head, and not only its level, in the presence of constant returns to capital in a broad sense.

TL;DR: In this article, the cointegration among nominal money stock, price, real income, exchange rate, and exchange risk over the period 1970.4 to 1992.4 was studied and the estimated money demand function and parameters were stable, significant, and compare favourably with other studies for other countries.

TL;DR: In this paper, the authors develop a model that shows that when cooperation fails in the management of collectively grazed pastures, more land is allocated to crops than under successful cooperation and less to pastures while the stocking rate on pastures is increased.

TL;DR: In this paper, a model is analyzed in which a sovereign country engages in independent obligations to repay a creditor bank and to keep an environmental treaty, and the linkage of both obligations through a cross-default contract, whereby the sovereign is deemed to be in default of both contracts if either is defaulted on, may reduce the sovereign risk attached to both the debt and the environmental contracts.

TL;DR: The most important change during this period was that from the late 1970s to the mid-1980s, the return to education fell by about one-fourth in Costa Rica.

TL;DR: This paper examined returns to scale for a panel of Indian manufacturing firms from 1976-1985, a period in which government regulations restricted firms' expansion, and found that although a large number of firms produce below the minimum efficient scale, average returns for the various industries are not significantly different from one.

TL;DR: The authors utilized unique firm-based data to examine firm-wage differentials among private firms with ten or more workers in the capital area of Guatemala City and found that approximately one-seventh of the overall hourly earnings variation in this sector is related to firm effects not captured by other observable characteristics of individuals and firms.