We study the implications of the interaction between human capital and knowledge spillovers for one kind of semi-endogenous economic growth in a region. We focus on two cases. In the first (second) case, there is no growth (growth) in the stock of human capital but knowledge spillovers are...

We analyze a model of trade between two heterogeneous regions that are creative in the sense of Richard Florida. One region is larger than the other region in terms of its endowment of creative capital. Each region produces a single final good with inputs 1 and 2 that are traded. There is...

The paper constructs a general equilibrium model of North–South trade with nontraded goods, real exchange rate, and a continuum of components that North partly offshores to South. It is shown that a protectionary policy which restricts offshoring may have the unintended consequence of widening...

The concept of factor intensity has played a key role in the development of international trade theory. The factor proportions utilized in the production of commodities differ from activity to activity. Some commodities employ a higher ratio of capital to labor than do others, and the basic...

In developing countries of tourist destinations, an increase in medical tourism raises the wages in the medical tourism sector, thereby retaining skilled medical workers who otherwise leave the country. However, the expansion of medical tourism contracts the domestic healthcare services sector,...

We empirically analyze the impact of uninsured deposits on a bank’s cost of public debt. Uninsured depositors can exert market discipline over a bank and potentially reduce its agency cost of debt through informed monitoring. We use a sample of public bond issues by U.S. bank holding companies...

We construct a game theoretic model of an oligarchic economy that potentially could be targeted by smart international sanctions. Oligarchs in this economy provide support for their leader, a strong man and potentially an autocrat, in return for favors that results in having income higher than...

In this paper we develop a simple general equilibrium model of trade to analyze the impact of tariffs and technical progress on the equilibrium rate of unemployment. We demonstrate that if a country imposes a tariff its equilibrium rate of unemployment is likely to rise, whereas the impact of...