During the second half of the twentieth century, competition policy has been accorded an increasingly prominent role in the policy portfolios of industrialized nations. Since the late 1940s, when twenty-three nations ratified the first General Agreement on Tariffs and Trade (GATT), tariff...

1. I develop a two-city model to explain a new stylized fact: high-income cities specialize in income-elastic sectors. The model has heterogeneous income elasticities and mobile agents, and either heterogeneous fundamental productivities or heterogeneous amenities generate the specialization...

One of the goals of the multilateral trading system is to enhance the stability and predictability of the environment in which traders operate.Binding tariffs at the WTO reduces the scope for their discretionary use. But, countries have bound tariffs at ceiling levels often substantially above...