A recent literature explores the nature and causes of the collapse in international trade during 2008 and 2009. The decline was particularly great for automobiles and industrial supplies; it occurred largely along the intensive margin; quantities fell by more than prices; and prices fell less...

Was the adoption of the spinning jenny profitable only in England? No. The present work finds that the jenny was profitable also in France. Such result contrasts recent findings on the topic by revising basic computations on the profitability of the spinning jenny. -- Industrial Revolution ;...

The U.K.'s decision to exit the E.U. (popularly known as “Brexit”) sets the stage for a potential retaliatory trade war. Similarly, the aggressive nationalism of U.S. President Donald Trump does also. In both cases, game theory suggests how such a conflict might be resolved. This paper first...

In the past fifty years, one has heard debates about whether law is a business, a profession, or both, what these terms mean and whether it matters. Regardless of what one thinks about these debates, there is a new paradigm that must be added to the mix, which is the paradigm of lawyers as...

The only significant road pricing scheme in the UK is that introduced by Ken Livingstone in London. But the technology now exists to develop a nationwide scheme of road user charging, with prices to road users varying with the level of congestion in a given area at a given time. The only...

In this study, we analyze the trade linkages between the United Kingdom (UK), Finland, and the European Union (EU). We calculate the value-added content of trade through complex global value chains (GVCs), which may involve numerous production stages and third countries. Our results show that...

We discuss how the welfare ranking of fixed and flexible exchange rate regimes in a New Open Economy Macroeconomics model depends on the interplay between the degree of exchange rate pass-through and the elasticity of substitution between home and foreign goods. We identify combinations of these...

This study reports results from an empirical investigation of business services sector firms that (start to) export, comparing exporters to firms that serve the national market only. We estimate identically specified empirical models using comparable enterprise level data from France, Germany,...