Every now and then, we observe a fierce price war in a real world market, through which competing firms end up with a Bertrand-like price competition equilibrium. Despite this, very little has been known in the existing literature as to why a price competition market is formed. We address this...

The present study constructs a game in which the two countries strategically set competition policies in their respective non-tradable service sectors. These policies affect the countries' utilities through the presence of trade imbalances. We demonstrate that in the presence of persisting trade...

The present study demonstrates that the current world financial crisis is attributable to, among other things, the failure to coordinate Japanese and U.S. monetary policies in 2004, allowing Japan to abandon its currency intervention while pegging its interest rate at zero at the same time that...