The precious bane

Article Abstract:

The negative correlation between natural resources and economic growth is analyzed by employing a two-sector, human capital driven, endogenous growth model of a small open economy. The analysis suggests that when the production process is such that natural resources are more favorable to unskilled labor than to skilled labor, an increase in the resource endowment produces an increase in the unskilled wage relative to the skilled wage. However, whether or not natural resources are harmful to growth also depends on other factors.

Economic aspects, Natural resources, Economic development, Human capital

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Exchange rate based stabilizations under real frictions: The role of endogenous labor supply

Article Abstract:

This is a study of the effect of a cut in the devaluation rate upon stabilization programs based on exchange rate in a small open economy where labor supply is present. It also shows welfare implications where consumption is subject to a cash-in-advance contraint.

United States, Exchange Rates, Research, Influence, Labor supply, Labor force

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Temporary stabilization: a stochastic analysis

Article Abstract:

Planners of currency devaluation need to take into account the effect it will have on personal comsumption and expectations. This model includes the factor of uncertainty, which clarifies characteristics of temporary exchange-rate programs.

Mexico, Usage, Stochastic analysis, Consumption (Economics), Economic stabilization, Uncertainty

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