Credit Rating Agencies and Speedy Payday Loans INTERNATIONAL RESOURCE ALLOCATION: Trade with Incomplete Information 4 INTERNATIONAL RESOURCE ALLOCATION: Trade with Incomplete Information 3 INTERNATIONAL RESOURCE ALLOCATION: Trade with Incomplete Information 2

Archive for January, 2015

INTERNATIONAL RESOURCE ALLOCATION: The Basic Model 4

INTERNATIONAL RESOURCE ALLOCATION: The Basic Model 4

Proposition 1 can be applied directly to the integrated world economy (IWE), in which complete information prevails in a unified “domestic” market and the distribution of types is uniform with...

INTERNATIONAL RESOURCE ALLOCATION: Introduction

International markets do not seem to work very well. Countries appear to trade too much with themselves (e.g., McCallum 1995) and invest too much in themselves (e.g., Feldstein and Horioka 1980)....

THE IMMIGRANTS: Changes in the Wage Structure 2

Depending on where in the wage distribution one looks, the effects can be even more dramatic. Consider the 75 percentile of the male wage distribution. Over the 1970 to 1990 period, the wage gap...

THE IMMIGRANTS: Changes in the Wage Structure

THE IMMIGRANTS: Changes in the Wage Structure

Note that Equation 12 can be rewritten as follows: where we have merely added and subtracted the term N?q — 12®. The first term in brackets may be described as the change in the wrage gap...