Journal Article
Monetary policy and financial market evolution
Smith, Bruce D.; Bencivenga, Valerie R. (2003-07)
Review , Volume 85 , Issue Jul , Pages 7-26

Working Paper
Unemployment, migration, and growth
Smith, Bruce D.; Bencivenga, Valerie R. (1995)
Economic development is typically accompanied by a very pronounced migration of labor from rural to urban employment. This migration, in turn, is often associated with large scale urban underemployment. Both factors appear to play a very prominent role in the process of development. We consider a model in which rural-urban migration and urban underemployment are integrated into an otherwise conventional neoclassical growth model. Unemployment arises not from any exogenous rigidities, but from an adverse selection problem in labor markets. We demonstrate that, in the most natural case, ...
Working Papers , Paper 561

Conference Paper
Dollarization and the integration of international capital markets; a contribution to the theory of optimal currency areas
Huybens, Elisabeth; Bencivenga, Valerie R.; Smith, Bruce D. (2001)
Proceedings