In this paper I sketch out the rough contours of the challenge faced by the WTO in dealing with non-tariff measures (NTMs) as seen from the economic theories of trade agreements. The key questions for the WTO - the answers to which largely dictate the choice between shallow and deep approaches...

When designing a world trading system for the twenty-first century, “Keep calm and carry on” beats “Move fast and break things.” Global trade is in trouble. Climate change, digital trade, offshoring, the rise of emerging markets led by China: Can the World Trade Organization (WTO), built...

In many countries. social security is a large fraction of the government budget. Why is it, given that at any moment in time the number of recipients of social security benefits is smaller than the number of contributors? Kore generally, what determines the size of social security? To answer...

This paper studies the political-economic equilibrium of a two-period model with overlapping generations. In each period the policy is chosen under majority rule by the generations currently alive. The paper identifies a "sustainable set" of values for public debt. Any amount of debt within this...