This paper develops a model of the WTO dispute settlement process (DSP) to study the recent proposal by legal scholars to subsidize litigation costs. The high cost of litigation, so the argument, is a major obstacle for developing countries to using the DSP to enforce developed countries?...

This paper develops a model of the WTO dispute settlement process (DSP) to study the recent proposal by legal scholars to subsidize litigation costs. The high cost of litigation, so the argument, is a major obstacle for developing countries to using the DSP to enforce developed countries'...

In order to guarantee a further successful functioning of the enlarged European Union a Federal European Constitution is proposed. Six basic elements of a future European federal constitution are developed: the European commission should be turned into an European government and the European...

This paper highlights the economic meaning of the size of the state for members of the European Union, thereby making the economic success of EU states statistically tangible. Firstly, we show in descriptive illustrations that the theoretically expected characteristics of small countries clearly...

The excessive accumulation of debt especially in the southern member states currently challenges European Monetary Union (EMU). Whereas for a long time, preventing a break-up of EMU was indisputable, in the meantime, voices were being raised claiming a withdrawal of Greece from the currency...

Vielfach wurde Deutschland in der Vergangenheit durch die Medien als „Exportweltmeister“ bezeichnet. Die aktuelle Diskussion in Hinblick auf die von Hans-Werner Sinn aufgestellte Basarökonomiethese befasst sich mit der Frage nach der Vorteilhaftigkeit dieses Titels für Deutschland, zumal...

Suppose the value of a ¯rm is endogenously determined by a manager\'s costly e®ort. We call this manager a distinguished player if he also can trade shares of the ¯rm on a market. Arbitrage-free asset pricing theory suggests that the equilibrium market price re°ects the value increasing...

In this paper, we model the tax setting game between two revenue maximizing countries which compete for the location of a single production plant owned by a multinational firm. We introduce the possibility that the multinational can shift a fraction of its profits out of the country where the...

The paper adresses the need for more flexibility in the integration process of the European Union after its recent eastward enlargement. Due to the increasing number of decision-makers and the increasing heterogeneity of economic structures, financial constraints, societal preferences, and...

Contestants have to choose whether to initiate a contest or war, or whether to remain peaceful for another period. We find that agents wait and initiate the contest once their rival is sufficiently weak to be an easy target.