E-commerce has contributed to the retail brokerage industry becoming more global and more contestable. By examining the different stages of the value chain, we can analyze the differential impact of the information and communication technology (ICT) revolution on each segment of the industry. To...

I study the positive relationship between prices of tradable goods and per-capita income. I develop a highly tractable general equilibrium model of international trade with heterogeneous firms and non-homothetic consumer preferences that positively links prices of tradables to consumer income....