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Working Papers

Optimal timing of defections from price-setting cartels in volatile markets

Shakill Hassan
We model cartel defection in markets with stochastic demand fluctuations as an investment timing problem. We show that (i) the optimal timing of cartel defection is pro-cyclical, suggesting higher probability of competitive pricing during booms; and (ii) the defection trigger is a positive function...
Mar 2005
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Trade liberalisation and labour demand within South African manufacturing firms

Lawrence Edwards and Alberto Behar
Using new detailed tariff data, wages disaggregated by skill level and firm level information, this paper ascertains the relationships between trade, technology and labour demand and investigates the effects of tariff changes on factor prices in South African manufacturing. We find evidence that...
Sep 2005
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Has transition improved well-being? An analysis based on income, inequality-adjusted income, nonincome, and subjective well-being measures

Carola Gruen and Stephan Klasen
In this paper we examine trends in economic well-being in transition countries from 1988-2002. To do this, we examine economic performance, inequality-adjusted well-being measures, subjective well-being measures, and non-income dimensions of well-being. While for some of the transition countries in...
May 2005
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Using Fractionalization Indexes: deriving methodological principles for growth studies from time series evidence

J. W. Fedderke; J.M. Luiz and R.H. J. de Kadt
Recent cross country growth studies have found that ethnolinguistic fractionalization is an important explanatory variable of long-run growth performance. This paper highlights some limitations of cross country studies by focusing on the time series evidence for South Africa. In presenting...
Jan 2008
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