We depict an industrial district as a center of innovation where positive local spillovers sustain the endogenous invention of new goods by profit-seeking firms. After invention, firms face a crucial choice between reaching distant markets by export or plant delocation. Attempts by firms to...

In 1975 Niels Thygesen, together with eight other economists - one of us among them - published in The Economist a "manifesto" proposing a new common currency for Europe (Basevi et al., 1975). His co-operation on this subject was pursued within a smaller group, and resulted in the publication of...

We analyse games between two countries which use the threat of imposing a tariff to induce each other to follow monetary policies equivalent to those that would obtain under a cooperative game. The analysis shows that -- under certain assumptions concerning the shares of tariff revenues, what...