Carlos A. Rodríguez

TL;DR: In this article, a two-sector model of exchange rate determination for a mall open economy with flexible prices is presented. But the model satisfies the homogeneity postulate but it is shown that an increase in the rate of expansions of money supply leads to an instantaneous deterioration of the real exchange rate.

TL;DR: The authors analyzes the determinants of the evolution of exchange rates within the context of alternative models of exchange rate dynamics and shows that exchange rate overshooting is not a characteristic of the assumption of perfect foresight, nor does it depend in general on the assumption that goods and asset markets clear at different speeds.

TL;DR: The authors reviewed and synthesised the theoretical analyses of the brain drain in the earlier literature and in the present symposium in the Journal on the subject and raised critical issues relating to how welfare changes should be discussed in the context of migration, and possibilities of fruitful future research are outlined.

TL;DR: In this paper, a simple model is presented in which dollarization reflects the costs that are involved in switching the currency denomination of transactions, and the transaction costs of dollarization define a band for the inflation differential within which there will be no incentive to switch between currencies.

TL;DR: A wide variety of combustion sources produce soot, i.e., carbon aerosols containing variable quantities of organic matter as discussed by the authors, and the most significant transportation-related sources of such materials are diesel engines.