Mumbai. This editorial comes to you from India. I am reading the lead article in The Times of India. This expresses concern that the nation’s growth rate is now at the rate of 8?7 %, compared with 11?2 % last year. Imagine a newspaper in North America or Europe complaining about annual economic growth of nearly 9 %! On the same front page another headline states: ‘Grain prices rising, set to so...

A terms of trade index is generally defined as an economy’s index of export prices divided by an index of import prices. The implementation of this definition would not warrant a chapter in a textbook or in a Manual: it is more or less straightforward. However, many economists over the years have observed that an improvement in an economy’s terms of trade has effects that are very similar to an...

This paper presents a comparison of reference management software between RefWorks and Zotero. The results were drawn by comparing two software and the novelty of this paper is the comparative analysis of software and it has shown that ReftWorks can import more information from the Google Scholar for the researchers. This finding could help to know researchers to use the reference management so...

This paper reviews the application of Gibbs sampling to a cointegrated VAR system. Aggregate imports and import prices for Belgium are modelled using two cointegrating relations. Gibbs sampling techniques are used to estimate from a Bayesian perspective the cointegrating relations and their weights in the VAR system. Extensive use of spectral analysis is made to get insight into convergence iss...

We construct a model of trade with heterogeneous retailers to examine the effects of trade liberalization on retail market structure, imports and social welfare. We are especially interested in studying the degree of pass-through of import into retail prices and the effects of retail market regulation. The paper shows that the degree of pass-through may be large when market structure effects ar...

Pacific Economic Bulletin Volume 21 Number 2 2006 © Asia Pacific Press For Fiji, which has been suffering persistent deficits since independence, determining the relationships between inflation, budget deficits, money supply, output, and import prices is essential. We find that inflation, deficits and money supply are cointegrated when inflation is the endogenous variable, and the long-run elas...