How do democratic institutions influence international trade policy? This article highlights conceptual challenges confronting the study of democracy and trade. Using a game theoretic model, I aim to spell out the precise effect of democratic legislative constraints on trade. In contrast to the...

Physical considerations alone cannot explain the volatile behavior of resource prices, or the effects these have on different regions of the world. An optimization analysis may not suffice either, since typically there are several distinct objectives: conservation, cost-minimization, and the...

This paper investigates the relationship between trade liberalisation, consumers' environmental awareness and a negative environmental externality in consumption. We adopt an international Hotelling duopoly setup, where firms are located in two asymmetric countries. We find that, if the...

What are the characteristics of President Moon Jae-in's policy toward North Korea, and what lessons can be drawn for the future? More than 70 years have passed since the establishment of the two republics in 1948, during which continuous attempts have been made to achieve reconciliation, peace,...