In the present study we argue that the salient features of both the EU-15 countries and Turkey are conducive to making the effects of the 1995 EU-Turkey customs union asymmetric among the incumbent EU countries. In order to support our argument we rely on a model in which trade involves the...

Beggar-my-neighbor policy problems for EEC countries are examined by considering a two-country currency area model involving real wage rigidity and a floating exchange rate with the rest of the world. Recognition of the supply-side effects of the exchange rate significantly changes earlier...

Governments in developing countries typically collect a significantly higher proportion of their revenue in the form of trade taxes, than their developed country counterparts. This paper provides a political-economic explanation for this phenomenon. A model of trade in vertically differentiated...