Some recent policy initiatives aimed at preserving the market share of smaller gasoline retailers have been proposed in Canada. These measures are grounded in the belief that strengthening such firms will enhance competition and result in lower prices, which is consistent with the implications...

This study examines the effects of changes in the exchange rate of the U.S. dollar on the trade balances of three oil-exporting countries, Iran, Venezuela, and Saudi Arabia. An exchange rate pass-through model is applied to allow changes in the exchange rate of the dollar to affect prices of...

That some capital importing regions subsidize units of capital is inconsistent with the standard models of the capital tax competition literature. We maintain the assumption of capital homogeneity and relax the assumption of constant returns to scale. Among other things, we show that symmetric...

In this paper, we study a two issue bargaining situation allowing for an endogenous determination of the agenda under alternative rules for implementing agreements. We uncover the settings in which different agenda structures will be employed in equilibrium, how the order in which issues are...

This paper builds a Faustmann-based model to investigate the effects of increased climate-induced fire risk on the optimal rotation period in a commercial forest. Simulations using species of trees prevalent in North American forests indicate that both the commercial and socially optimal...

In this paper a stylized labour contarct model is constructed where it is shown that when contracts are enforced by a specific performance rule, then above mentioned unfortunate features emerge. Thse features 'disappear' when the environment is amended by assuming that the court uses an at-will...

When the central banker’s loss function is asymmetric, changes in the volatility of inflation and/or unemployment affect equilibrium inflation. This suggests that changing macroeconomic volatilities may be an important driving force behind trends in observed inflation. Previous evidence, which...

We develop an equilibrium model of the monetary transmission mechanism that highlights search frictions in the market for labour and information frictions in the market for money. A change in monetary policy regime, modelled here as an exogenous reduction in the 'long-run' money growth rate...