An opinion held by the majority of Muslims scholars, such as Ibn Taymiyyah, supports the contention that each thing or act has an ethical value that can be comprehended through reason. Two different methodologies are used for applying reason onto morals. One is categorical moral reasoning that...

Fiscal devaluation works as an alternative instrument to monetary de- valuation, helping countries to regain competitiveness in a monetary union. Focusing on a closed economy, this paper analyzes its effects in a dynamic framework. In the case of an increasing relative love for variety, fiscal...

This paper examines the effects of international trade and resource management in a two-country model where each country controls domestic harvest to prevent over-exploitation of an internationally shared renewable resource (e.g., fishery resources). We show that contrary to conventional wisdom,...

The distance puzzle has been wildly discussed in the literature since Leamer and Levinsohn (1995) shed the light on it. This puzzle simply says that "the world is not getting smaller": distance still matters to account for trade. This is reflected in a decreasing distance of trade (DOT), or in a...