This paper develops a general equilibrium two country, two commodity dynamic simulation model of international trade in commodities and financial claims. The model generalizes the Heckscher-Ohlin static theory of trade by incorporating costs of quickly adjusting levels of capital stocks in...

Geography, flat or not, creates special relationships between buyers and sellers who reside in the same neighborhoods, but Friedman turns this metaphor inside-out by using <i>The World is Flat</i> to warn us of the perils of a relationship-free world in which every economic transaction is contested...

Most studies of the economies of Eastern Europe by Western analysts depend substantially on Western data and Western attitudes. Usually this dependence is implicit and concealed. An explicit and transparent treatment may yield better results, both for the individual analyst and for the...