The small country assumption affects the modelling of the export demand and export price equations. A large (monopolistic) country can set its export price as a mark-up over marginal cost, because it has market power. In contrast, small countries have to deal with competition which forces prices...

It is sometimes argued that news reports in the media suffer from biased reporting. Mullainathan and Shleifer (2002, 2005) argue that there are two types of media bias. One bias, called ideology, reflects a news outlet's desire to affect reader opinions in a particular direction. The second...