This paper is concerned with the properties of public-sector shadow prices in the presence of market distortio ns. Some theoretical properties of shadow prices in a competitive gen eral equilibrium model are derived and numerical examples are used to argue that partial equilibrium...

This paper applies simple duality theory to integrate some elements of the theory of public finance into the theory of economic policy in open distorted economies. Results on the effect of reductions in distortions are derived which generalize the results of Dixit (Journal of Public Economics,...

"The reduction in trade barriers in Europe through the Single Market Programme (SMP) was intended to increase competition in European markets, and hence welfare and efficiency. The paper examines how the SMP has affected trade patterns and what can be learnt from this regarding the impact on...

This paper presents a model of the multinational corporation focusing on a foreign firm which wishes to operate in a particular country. The firm must choose between direct investment and production in the country and production of the product elsewhere, followed by its export into the country...

This paper investigates the consequences of the completion of the internal market in the EC using a computable general equilibrium model of trade under imperfect competition. The focus of the paper is the welfare consequences of reducing trade barriers and the changes in production and trade...

This paper offers a new treatment of the labour market effects of international trade, based on a model in which intra-industry trade is explained on Heckscher-Ohlin principles. The model is more consistent with stylised facts about North-South trade than the traditional Heckscher-Ohlin model of...