This paper analyses the impact of quality based labelling on product prices,factor allocation and the resulting effects on producers within the context of aninternational trading system. A general equilibrium model, calibrated to 1998 data,describes United States and European Union labelling...

“Substantial downzoning” is defined as the exercise of police power to significantly reduce the legally permitted density on undeveloped land in a community. This contentious practice is typically challenged by those who perceive the action to limit their market opportunities (e.g., farmers...

Global food commodity price inflation beginning in 2006 and continuing through mid-2008 became a priority concern for global consumers, producers and policy-makers alike. In response, many governments across the world implemented policies targeting high food commodity prices in their domestic...

It is often argued that capital should flow from aging industrialized economies to countries with fast-growing populations. However, institutional failures and the risk of expropriation substantially reduce developing economies' attractiveness for foreign investors. We analyze the influence of a...

Gegenstand dieses Aufsatzes sind die fundamentalen Probleme liberaler Argumente in den Wirtschaftswissenschaften. Anders als dies die Zyklen in der Dogmengeschichte nahelegen, erweist sich die gegenwärtige Krise des Wirtschaftsliberalismus dabei nicht als eine vorübergehende „Rezession“,...

This paper analyzes the influence of financial integration on institutional quality. We construct a dynamic political-economic model of an autocracy in which a ruling elite uses its political power to expropriate the general population. Although financial integration reduces capital costs for...