In this paper the optimal choice of a monetary target is investigated for a small open economy that is subject to foreign monetary policy shocks. In contrast to large parts of the literature, pegging the exchange rate is never the best policy choice for the small open economy in our model. Instead, monetary targeting and, depending on the parameter combination, producer price index targeting co...

There appears to be growing consensus that Small Business Enterprises (SBEs) exert a major influence on the economy of Trinidad and Tobago. This study investigated how and to what extent small businesses influenced macroeconomic variables such as employment, growth and productivity in the important sectors of manufacturing and services. The paper used a methodology that traverses the reader tho...

In this work, I construct an extended model of the Heckscher-Ohlin model, in which there is an assignment problem of how to assign workers to two types of endowments, skilled and unskilled labor. In the comparative statics for a small open economy, when product prices change, the outputs change more than in the HeckscherOhlin model. In the comparative statics for a whole economy, when consumer ...