In general in organisations whose system of governance involves weighted majority voting, power and voting weight differ. Power indices are a value concept for majority voting games which provide a means of analysing this difference. This paper provides new algorithms for computing the two...

We show that whether trade is one-way or two-way depends on wage strategies adopted by trade unions. The union’s wage strategy choices themselves depend upon the conditions under which trade takes place, as well as upon the characteristics of both the labour and the product markets in the...

Is sovereign borrowing so different from corporate debt that there is no need for bankruptcy- style procedures to protect debtors? With the waiver of immunity, sovereign debtors who already face severe disruption from short-term creditors grabbing their currency reserves are also exposed to...

Is, as many of its enthusiastic proponents suggest, global civil society the key to future progressive politics? This paper first develops a definition of global civil society and explores the circumstances that have prompted its growth. The paper then considers the consequences of global civil...

Globalization in its many different forms is the last grand narrative of the 20th century. It evokes a universal vision of frictionless adjustment, endlessly innovative corporations, infinite progress and unlimited abundance for all through the power of the world market. What is particular about...

This paper examines the role of external shocks in explaining macroeconomic fluctuations in African countries. We construct a quantitative, stochastic, dynamic, multi-sector equilibrium model of a small open economy calibrated to represent a typical African economy. In our framework, external...

This paper examines various implications of Preferential Trade Agreements (PTAs), namely Customs Unions (CUs) and Free Trade Areas (FTAs), in the context of a multi-country general equilibrium model based on comparative advantage considerations. We calibrate the model to represent countries with...