As international trade has expanded dramatically in the postwar period--an expansion accelerated by the opening of China, Russia, India, and Eastern Europe--illicit international trade has grown in tandem with it. This volume uses the economist's toolkit to examine the economic, political, and...

Competitiveness among nations is often approached as if it were a sports competition: some countries win medals, others lose out. This view of countries fighting it out in the economic arena is especially popular in business circles and among politicians. Economists, however, take a very...

The process of monetary integration in Europe began amid widespread skepticism among economists about the project. But today the success of the euro has prompted a reconsideration of whether monetary unions should be implemented elsewhere. This CESifo volume assesses contemporary theoretical and...

Intro -- Contents -- Series Foreword -- Contributors -- Chapter 1. Introduction -- Chapter 2. Purity, Price, and Production: Are Drug Markets Different? -- 2.1 Introduction -- 2.2 Motivation -- 2.3 Risks and Prices -- 2.4 Some Puzzles -- 2.5 Participant Characteristics, Market Outcomes, and...