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A Solow-style model is developed to study the effects of the AIDS epidemic on the growth path of the economy and GDP per capita. The model uses conjectures about the demographic effects of AIDS in Tanzania to estimate the macroeconomic effects on the economy. The findings suggest that, without decisive policy action, AIDS may reduce Tanzanian GDP in the year 2010 by 15 to 25 percent in relation to a counterfactual no-AIDS scenario. Per capita income levels are expected to fall by 0 to 10 percent by 2010.

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This paper assesses the degree of market integration in the U.S. natural gas market following the FERC’s ‘open access’ reforms. Daily spot prices at 76 market locations from 1993 to 1997 are used to examine the geographic extent of the market and the speed with which market forces move prices toward equilibrium in the face of ongoing price shocks. The empirical results suggest that the East and Central regions form a highly integrated market, but that this market is quite segmented from the more loosely integrated Western market. Copyright Springer Science+Business Media, Inc. 2006Natural gas market, Market integration, Law of one price, L95, Q48,

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