Countries differ considerably in terms of the price drivers pay for gasoline. This paper uses data for a large sample of countries to provide new evidence on the implications of these differences for the consumption of gasoline for road transport and the fuel economy of new vehicles. To address...

Physics shows that energy is necessary for economic production and, therefore, economic growth but the mainstream theory of economic growth, except for specialized resource economics models, pays no attention to the role of energy. This paper reviews the relevant biophysical theory and...

We study the role of distance and time in statistically explaining price dispersion for 14 commodities from 1732 to 1860. The prices are reported for US cities and Swedish market towns, so we can compare international and intranational dispersion. Distance and commodity-specific fixed effects...

The 15 members of the Caribbean Community (CARICOM) are digesting a critical review of the structure and performance of its Secretariat, which describes the overall CARICOM integration initiative as being in crisis. This paper describes elements of the CARICOM integration project, and draws...

Using the international investment regime as its point of departure, the paper introduces notions of bounded rationality to the study of economic diplomacy. Through a multi-method approach, it shows that developing countries often ignored the risks of bilateral investment treaties (BITs) until...

We develop multivariate measures of synchronicity and co-movement of business cycles. In addition to synchronicity, the co-movement measure takes differences between cycle amplitudes into account that have been overlooked in most previous studies. We apply the new measures to the euro area....

This paper shows that unit labor costs (ulcs), the most widely used measure of competitiveness, can be interpreted as the labor share in output multiplied by a price-adjustment factor. This has three main implications. First, ulcs are not just a technical concept since they embody the social...

This paper examines patterns and determinants of trade among developing countries (South-South trade), with emphasis on the role of production sharing in global economic integration of the Southern economies. It begins with an analytical narrative of the emerging trends and patterns of...

The 15 members of the Caribbean Community (CARICOM) are digesting a critical review of the structure and performance of its Secretariat, which describes the overall CARICOM integration initiative as being in crisis. This paper describes elements of the CARICOM integration project, and draws...