The American European Community Association, Brussels, Belgium, April 16, 2007

Presentation to the Globalization and Outsourcing Conference, Reuters America Inc., New York, June 15, 2004

Fiscal Affairs & Government Operations Committee, The Council of State Governments' Southern Legislative Conference, Louisville, Ky., July 31, 2006

When residents of two countries have access to complete contingent claims markets, the welfare effects of changes in tariffs are opposite to those found in static trade theory. This paper demonstrates that a much simpler asset market structure can be sufficient to generate such a result. In the...

Arkansas Minority Business Development Roundtable, Little Rock, Ark., Aug. 17, 2007

Session on Regional Economic Trends, Southern Governors' Association Meeting, Biloxi, Miss., Aug. 25, 2007

Two country applications of equilibrium business cycle methodology have succeeded in matching some key features of international fluctuations. However, discrepancies between theory and data remain. This paper identifies a new anomaly related to a basic property of typical models: the prediction...

Stockman and Dellas (1986) demonstrated that in the presence of complete international asset markets, the relative welfare implications of a small tariffare reversed from standard trade theory. This paper examines the robustness of that result to change in preference parameters and asset market...

We show that dependence of production on foreign inputs (or non-producible natural resources) can significantly increase the likelihood of indeterminacy. Payment of imported foreign factors of production may act as a semi-fixed cost, amplifying production externalities and returns to scale,...

This paper provides new estimates of the effects of corruption and poor institutions on trade protection. It exploits data on several measures of trade protection including import duty, international trade taxes, and the trade-GDP ratio. The paper complements the literature on the relationship...