We study trade policy in a two-sector Krugman-type trade model with home market effects. We allow for three different instruments: tariffs, export taxes and production subsidies. For each instrument, we consider unilateral trade policy without retaliation. We find - contrary to the results of...

Despite the widespread use of the concept there is neither a consistent theoretical construction nor a clear definition of globalisation. Although the debate between pro and anti globalisation scholars and activists is interesting, it largely fails to address globalisation as a fundamental...

Brexit became an important subject not only for academics but also for international institutions, research centers and consultancy companies, think tanks and independent experts. The aim of this article is to: (1) provide a general approach of the literature; (2) see how the effects of Brexit...

We provide a novel (and old) argument for the nonequivalence of tariffs and quotas, based on the famous paper by Hotelling (1931). Unlike tariffs, quantitative restrictions are inherently dynamic. As long as the foreign exporter earns positive marginal profits, he raises their present value by...

In the 1870s and 1880s, the scientist, logician, and pragmatist philosopher Charles S. Peirce possessed an advanced knowledge of mathematical economics, having mastered and criticized Cournot as early as 1871. In 1884 he engaged in a multi-round debate with the editors of The Nation over the...