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real volume of activity in the parts of the economy being aggregated. Both objectives must be achieved for consistent multi …
Persistent link: https://www.econbiz.de/10012464601
Mutual causation of predation and trade induces novel effects of commercial policy in this paper. The model can explain trade volume responses to market widening initiatives that are otherwise puzzlingly 'too big' or 'too small'. Efficient commercial policy (broadly defined) depends crucially on...
Persistent link: https://www.econbiz.de/10012466086
--- political pressure deflection. Pressure deflection poses a puzzle to standard political economy models which suggest that having …
Persistent link: https://www.econbiz.de/10012468254
Why does illegal trade often flourish without formal enforcement, but sometimes fail? Why do illegal trade-reducing policies often fail? Why do States often appear to tolerate illegal trade? A model of trade with cops and robbers provides answers. `Safety in numbers' is a key element: the...
Persistent link: https://www.econbiz.de/10012469128
There is widespread concern that the Uruguay Round may reduce the welfare of developing countries through its effect on world agricultural prices. Reduced agricultural price distortions among major supplying nations are predicted to increase basic food prices and decrease some important export...
Persistent link: https://www.econbiz.de/10012472901