Gravity equations explaining foreign affiliates' sales are ad hoc and hence, estimated coeffcients are hard to interpret. We therefore provide the theoretical underpinnings of the gravity equation applied to the analysis of sales of foreign affiliates of multinational firms. We argue that the...

We develop a dynamic general equilibrium model of education, quality and variety innovation, and scale-invariant growth. The early endogenous innovation-based growth models incorporate a scale effect predicting that larger economies are characterized by higher per capita growth rates. Recent...

Chapter 1: Tariff-Rebate on Intermediate Inputs for Exportables in a Two-period Model with Learning-from-Exporting -- Chapter 2: Trade Policy during COVID -- Chapter 3: Ronald W. Jones as a General Equilibrium Theorist in a Classical Mold: International Trade through the Ricardo-Viner-Jones...

Advertisements provide consumers with knowledge about private products, whereas political information is required to provide voters with knowledge of public issues. Modern information technologies and globalization are increasing the exposure of individuals to information. Goods advertising is...