Evo, Pablo, Tony, Diego, and Sonny : General Equilibrium Analysis of the Illegal Drugs Market

Evo, Pablo, Tony, Diego, and Sonny : General Equilibrium Analysis of the Illegal Drugs Market / Chumacero, Romulo A

This paper presents a general equilibrium model for the production, trafficking, and consumption of illegal drugs which endogenously determines relative prices and quantities. The model is calibrated to characterize the market for cocaine and is used to analyze the effects of three types of policies...

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Bibliographic Details
Main Authors:Chumacero, Rómulo A.
Format: Online-Resource
Language:English
Published:Washington, D.C : The World Bank, 2008
Subjects:
Consumers
Consumption
Currencies and Exchange Rates
Debt Markets
Economic Theory and Research
Equilibrium
Finance and Financial Sector Development
General Equilibrium Analysis
Government expenditures
Growth rate
Macroeconomics
Macroeconomics and Economic Growth
Markets and Market Access
Optimization
Production function
Production functions
Utility function
Online Access:URL des Erstveröffentlichers
Details
Summary:This paper presents a general equilibrium model for the production, trafficking, and consumption of illegal drugs which endogenously determines relative prices and quantities. The model is calibrated to characterize the market for cocaine and is used to analyze the effects of three types of policies: making the illegal activities riskier, increasing the penalties for conducting illegal activities, and legalizing previously illegal activities. Assessing the effects of these policies using the powerful tool of a general equilibrium model provides illuminating (and in cases surprising) results
Item Description:Weitere Ausgabe: Chumacero, Romulo A: Evo, Pablo, Tony, Diego, and Sonny
Physical Description:1 Online-Ressource (27 Seiten)

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