distance, and significantly contribute to the higher shipping prices facing the developing world. Markups increase shipping … and perhaps lower incomes. This paper investigates price discrimination in the shipping industry and the role it plays in … determining transportation costs. In the presence of market power, shipping prices depend on the demand characteristics of goods …

The standard source for pre-WWII global freight rate trends is the Isserlis British tramp shipping index. We think it … the precipitous decline in nominal freight rates before the World War I, but it also extends the series to the 1940s …. Furthermore, our new series is linked to the post-World War II era (documented by David Hummels), so that we can be more precise …

This paper analyses the effects of fiscal policies on rates of interest and wealth in the world economy. Uncertainty … exert real effects. It is shown that a current budget deficit(resulting from a tax cut) raises world rates of interest. On … transmission. In the long run, a higher steady-state value of government debt raises the steady-state world rate of interest but …

How internationally mobile is the world's supply of capital? Does capital flow among industrial countries to equalize …