Though retaliation to discriminatory measures taken by a trading partner are made possible by international treaties (GATT and WTO in particular), it is rarely used. We give theoretical reasons for which this has been the case. We also show that the retaliation mechanism which is built into the...

We show that price differences across EC countries have seriously decreased in 1986-87 compared with 1983-84. It is however difficult to assess whether this evolution is due to exchange rate variations going "in the right direction" or to voluntary decisions made by producers to comply with EC...

We construct returns and quantity indices for Impressionist, Modern and Contemporary painting over the last thirty years, using the results of public auctions. In particular, we isolate the large swing in prices during the late 1980s; from results on individual artists, we also conclude that the...

We examine patterns of acquiring non-native languages in a model with two languages and heterogenous populations in two countries or regions. We show that both interior and corner linguistic equilibria can emerge, and that the fraction of learners of the foreign language is higher in the country...

The globalization of world markets has prompted firms' search for benefits of international tax differentials. In this paper we consider a simple world with two countries and two multinationals with a division in each country. Both countries, that differ in market size, use a source-based profit...