Sebastian Edwards and Alejandra Cox Edwards in their analysis of the Chilean economic liberalization argue that both capital inflows and outflows may have harmed the Chilean economy. They model the Chilean economy as using labor and fixed factors to produce traded and non-traded goods subject to...

Recently, Jans, Wall and Hariharan demonstrated that "there may exist an incentive for a welfare-maximizing government that normally prefers free trade to maintain a protectionist reputation by imposing a voluntary export restraint, VER." We show in the context of their model, which postulates a...

With students in the policy and business schools with no formal economics background in mind, we propose an intuitively appealing and simple step-by-step graphical approach to explain the Heckscher-Ohlin (HO) model. Our approach is simple because it needs only two pieces of information,...

Via partnership agreements, the EU provides African countries with access to its markets, and asks for compliance with a given set of good governance norms and procedures. While the EU markets are significant for African countries, African markets are not significant for the EU: This asymmetric...