Government is often considered the safe sector of an open economy that provides households with insurance against external risk exposure. Among highly integrated economies, however, households should be able to exploit common financial markets to insure themselves. In this paper we examine the...

Government is often considered the safe sector of an open economy that provides households with insurance against external risk exposure. Among highly integrated economies, however, households should be able to exploit common financial markets to insure themselves. In this paper we examine the...

Does trade openness systematically imply bigger governments, as proposed by Rodrik (1998)? This paper presents a novel and more refined explanation for when and why international trade may enlarge the public sector. We propose that trade openness is associated with bigger governments if (i) the...

Over the last decades there has been a sizeable increase in trade and financial openness, triggered by current and capital account liberalization as well as improvements in transport and communication technologies. As a consequence, the importance of spillover effects is likely to have increased...

This Article develops the core legal framework of a new electricity-trading ecosystem in which anyone, anytime, anywhere, can trade electricity in any amount with anyone else. The proliferation of solar and other distributed energy resources, business model innovation in the sharing economy, and...

The most important aspect of American federalism embodied in the Constitution is the constitutional facilitation of a national free trade zone known as the United States wherein each independent unit is disabled from erecting barriers to trade under what is popularly termed the Interstate...

Purpose - The purpose of this article is to examine the interconnected relationships between government size, country size, openness and economic growth. In fact, more trade openness increases government size, which lays stabilizer role against external shocks and GDP volatility. More country...

This study assesses the role of foreign aid in reducing the hypothetically negative impact of terrorism on trade using a panel of 78 developing countries with data for the period 1984-2008. The empirical evidence is based on interactive GMM estimations with forward orthogonal deviations....

An empirical measure of trade openness is defined as the ratio of total trade to GDP, and represents a convenient variable routinely used for cross-country studies on a variety of issues. However, the effects that the crude measure captures remain ambiguous, making it difficult to interpret the...