The recent public economics literature involves an apparent consensus that income effects reduce the costs of raising revenues and hence increase the desirable level of public good provision. Higher taxes can indeed reduce the demand for leisure - and hence increase the supply of taxed labor -...

A structural gravity model is used to estimate barriers to services trade across many sectors, countries, and time. Since the disaggregated output data needed to infer border barriers flexibly are often missing for services, this paper derives a novel methodology for projecting output data. The...

"The gravity model in economics was until relatively recently an intellectual orphan, unconnected to the rich family of economic theory. This review is a tale of the orphan's reunion with its heritage and the benefits that have flowed from it. Gravity has long been one of the most successful...

Intense US-China commercial rivalry is quantified in this paper with novel non-parametric relative resistance sufficient statistics. The accounting method minimizes the demand specification error variance in revealed resistances. China's manufacturing seller incidence falls (seller price rises)...

Non-parametric gravity as defined in this paper encompasses previous parametric forms. The model generates non-parametric sufficient statistics for arbitrage gains from trade and terms of trade, and a non-parametric elasticity of terms of trade with respect to supply. For world manufacturing...

We show that the effects of tariff changes on welfare and import volume are fully characterised by their effects on the generalised mean and variance of the tariff distribution, implying two “cones of liberalisation” in commodity price space. Because welfare is negatively but import volume...

Purpose: To explain two new Financial Industry Regulatory Authority (FINRA) rule provisions, effective February 5, 2018, that were designed to provide firms with more effective tools to address suspected financial exploitation of seniors and other vulnerable adults, a new Rule 2165, Financial...