The fiscal impact of trade liberalization and commodity price fluctuation: the case of Costa Rica, 1980-1998

Includes bibliography

Export commodity price projections: a study of autoregressive-moving average projections methods: preliminary version

Includes bibliography

International price volatility and economic policy challenges in Latin America and the Caribbean

Includes bibliography

Maritime Transport Price Indices in Late 2006

Since the worldwide freight crisis that began in mid-2002, maritime transport prices have remained higher than pre-crisis levels and have proved to be fairly volatile. This edition of the Bulletin is the first one of the year to analyse maritime transport markets. It covers price trends in three maritime transport markets: containers, bulk carriers, and petroleum and refinery byproducts.

Is price dispersion always an indication of price discrimination?

It has been established for a long time that there is significant dispersion in prices charged for seemingly homogeneous goods. This may happen in competitive markets because the world is not frictionless, and certainly in other markets where price discrimination is carried out by firms with oligopolistic power. This paper is the first survey of the economic literature on price dispersion that addresses the following three key issues: i) its characteristics as a result of optimizing search behavior; ii) its relevance as a reflection of price discrimination and its consequences for social welfare and policy intervention; and iii) the empirical evidence of price dispersion. By contributing to a better understanding of price dispersion, this survey may help in the design and implementation of competition and anti-trust policies

Meta-analysis of the income and price elasticities of gasoline demand: public policy implications for Latin America

By means of a meta-analysis, this article sets out to estimate average values for the income and price elasticities of gasoline demand and to analyse the reasons for the variations in the elasticities reported by the literature. The findings show that there is publication bias, that the volatility of elasticity estimates is not due to sampling errors alone, and that there are systematic factors explaining these differences. The income and price elasticities of gasoline demand differ between the short and long run and by region, and the estimation can appropriately include the vehicle fleet and the prices of substitute goods, the data types and the estimation methods used. The presence of a low price elasticity suggests that a fuel tax will be inadequate to control rising consumption in a context of rapid economic growth.