The accuracy of international economic observations
Article Abstract:
Bilateral trade data between the Netherlands and Germany supplied by the International Monetary Fund and the Organization for Economic Development and Cooperation (OECD) from 1977-90 were analyzed for measurement errors. Results showed that implicit minimal measurement errors were between 1.5-3%. In addition, analysis of trade data between 20 OECD countries between 1950-89 showed minimal accuracy improvement since the 1970s. Given the significant level of errors new economic models and analysis techniques should be developed.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 1995
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The impact of economic sanctions in the 1990s
Article Abstract:
The increased use of economic sanctions as a foreign policy instrument in the 1990s has been apparently effective in the political sphere although caution should be exercised in its implementation as it basically undermines the economic benefits of free multilateral trade. Countries which plan to enforce such sanctions should weigh beforehand the sanctions' economic costs in relation to the costs to be incurred by alternative diplomatic measures.
Publication Name: World Economy
Subject: Economics
ISSN: 0378-5920
Year: 1995
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The Heckscher-Ohlin theorem with engodenous labour supply
Article Abstract:
J.P. Martin's application of the Heckscher-Olin Theorem of international trade in situations characterized by endogeneity of labor supply results in invalid conclusions because basic assumptions are changed. Specifically, his findings about backward-bending or inelastic supply curves are not accurate. The theorem is actually found to be insensitive to the slope of the labor supply curve.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 1995
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