000			01990nam a2200265 a 4500
082			_aH 74240 n. 2, 1971
090			_c20197 _d20197
100			_aBacha, Edmar
100			_aTaylor, Lance
245			_aForeing exchange shadow prices : a critical review of current theories
260			_bHarvard University
260			_aCambridge
260			_cMay 1971
300			_app. 197-224
490			_aQuarterly Journal of Economics _vn. 2 _x00335533
504			_aIncluye bibliografía
520			_aThis article is a review of currently accepted methods for calculating the shadow price of foreign exchange in developing countries. The authors wrote it in the field after spending some months dredging shadow price formulas from the literature, inventing new ones, rationalizing the whole lot in terms of foreign trade theory, and trying to decide which method was best for the shadow price estimates we were concurrently trying to make. This article presents a report on the theoretical side of this work here mainly in the utilitarian hope that people can save some future would-be shadow pricer all the essentially academic effort they put in, so that they can spend their time on more immediately productive activities. Also, the authors hope to stimulate further research about this important shadow price, so that future calculators can use methods more sophisticated than the ones herein, all of which fail to surpass the limitations of static, classic foreign trade theory. Generalization under dynamic and uncertain conditions and a more explicit treatment of the problems created by quantitative import restrictions and by the government's budget constraint are sorely needed. The authors hope that these improvements will be forthcoming in the near future.
650			_aTIPO DE CAMBIO
650			_aTEORIA ECONOMICA
650			_aPARIDAD DE CAMBIO
650			_aCAMBIO EXTERIOR
650			_aPARIDAD MONETARIA
653			_a
942			_cANAR _jH 74240 n. 2, 1971
999			_c20148 _d20148