Latin America’s economic performance is mediocre at best, despite abundant natural resources and flourishing neighbors to the north. The perplexing question of how some of the wealthiest nations in the world in the nineteenth century are now the most crisis-prone has long puzzled economists...

"The authors analyze general equilibrium relationships between trade policy and the household distribution of income, decomposing social welfare into real income level and variance components and emphasizing Gini and Atkinson indexes. They embed these inequality-adjusted social welfare functions...

One feature of globalization is that barriers to international competition have come to be associated with differences in regulatory policies that increase the costs of engaging in cross-border sales. Such non-tariff measures (NTMs) have attracted growing attention from policy makers and raise...