Natural resources account for 20% of world trade, and dominate the exports of many countries. Policy is used to … (equivalent to trade taxes if no domestic production is possible). We review the literature, and argue that the policy equilibrium …

markets are missing. The main results are: (i) outsourcing raises unemployment and labor income risk of unskilled workers; (ii …

This paper studies the welfare and policy implications of globalization when risk averse workers face the risk of … unemployment. If the jobs performed by domestic workers can be easily substituted by imports, then globalization reduces wages and … increases unemployment. In this situation, in the absence of any government intervention globalization not only reduces the …

We discuss metrics of globalization for individual economies as distance measures between fully integrated and trade … be used to construct country globalization metrics reflecting the distance of economies from full global integration due … to trade barriers, barriers to factor flows, barriers to international financial intermediation, solved technological …

trade with one of several sellers. Sellers who feel shortchanged can engage in counterproductive behavior to punish the … buyer. We find that the same unfavorable terms of trade trigger significantly less punishment if the buyer uses a … competitive auction to determine the terms of trade than if she uses her authority to dictate the same terms directly. Our results …

This paper studies the stability of socially responsible behavior in markets. We develop a laboratory product market in …