Using U.S. Census data from 1950 to 2000, this paper provides a framework to compare theresponses of immigrant and native population growth to the economic incentives offered by ruralcounties in the Midwest and the South. We find that in marked contrast to traditional destinationsfor new...

This paper considers the problem of multi-species fisheries managementwhen targeting individual species is costly and at-sea discards of fish by fishermenare unobserved by the regulator. Stock conditions, ecosystem interaction, technologicalspecification, and relative prices under which at sea...

The contributory infringement rule assesses liability to a third party that contributes tothe infringement of a patent. Not only are firms that directly infringe liable, those whoindirectly contribute are also liable. We investigate how this rule affects the creation of anetwork of members...

When adjustment costs are present, cyclical preference and technology heterogeneities in aproduct’s markets induce cycles in production. We exploit cyclic and dihedral groupinvariances in an industry’s cost technology to describe these patterns. We show whenequilibrium cyclical pricing and...

Welfare in a two-product Cournot oligopoly is shown to increase (decrease) with an increase incorrelation between unit costs when the outputs complement (substitute) in demand. A morequalified correlation structure is required for the result to apply in a three-product Cournotoligopoly when...

This paper compares the welfare under two standard alternative exchange rate regimes, fixed andflexible, in a stochastic dynamic general equilibrium two-country setting. Conventional wisdomholds that countries often prefer low exchange-rate variability to stabilize trade. This may explainthe...

Programming models approximate market prices and quantities when regulations constrain firm choices, because market outcomes result when welfare is appropriately defined and includes performance and environmental constraints. This study discusses market operation in quality-constrained sectors,...

We consider optimal trade policy for a large country with private information. We show that the optimal tariff leads to a signaling equilibrium with higher tariffs and lower welfare than under complete information, whereas the optimal import quota replicates the complete information equilibrium...