Trading blocks can help or hinder the liberalization of world trade. A determining factor is whether trade within the block is organized around traditional comparative advantages, or around economies of scale. Regional free trade agreements such as NAFTA can be a substitutes for global free...

Economists have studied for a long time how decision-makers allocate scarce resources. The recent literature on rational inattention studies how decision-makers allocate the scarce resource attention. The idea is that decision-makers have a limited amount of attention and have to decide how to...

<i>Macroeconomic Theory</i> is the most up-to-date graduate-level macroeconomics textbook available today. This book truly offers something new by emphasizing the general equilibrium character of macroeconomics to explain effects across the whole economy, not just part. It is also the perfect resource...

<i>Macroeconomic Theory</i> is the most up-to-date graduate-level macroeconomics textbook available today. This book truly offers something new by emphasizing the general equilibrium character of macroeconomics to explain effects across the whole economy, not just part. It is also the perfect resource...

<i>Macroeconomic Theory</i> is the most up-to-date graduate-level macroeconomics textbook available today. This book truly offers something new by emphasizing the general equilibrium character of macroeconomics to explain effects across the whole economy, not just part. It is also the perfect resource...

<i>Macroeconomic Theory</i> is the most up-to-date graduate-level macroeconomics textbook available today. This book truly offers something new by emphasizing the general equilibrium character of macroeconomics to explain effects across the whole economy, not just part. It is also the perfect resource...

An analysis of the disease of formalism in modern economics. Its manifestation in general equilibrium theory, game theory, the new classical macroeconomics and real business cycle theory. Symptoms of the disease in the current vogue for postmodernism in methodololy. The possibilities for curing...