We consider a setting in which capital taxation is characterized by two distortions working in opposite directions. On one hand, governments engage in tax competition and are tempted to lower capital tax rates. On the other hand, they are unable to commit to future policies and, once capital has...

We examine the relationship between international policy coordination and domestic policy reputation when both are self-sustaining. We show that domestic policy commitment does not necessarily facilitate international cooperation; rather, efficient policies may be most easily sustained when...

We consider a small open economy that faces a commitment problem in trade liberalization. We examine how the relationship with a large trading partner affects the ability of the small countrys government to sustain free trade through a reputational mechanism. If the small country’s government...

We describe a model of multi-trait matching and inheritance in which individuals’ attractiveness in the marriage market depends on their market and non-market char- acteristics. Gender differences in social mobility can arise if market characteristics are relatively more important in...