Traditional vector autoregressions derive impulse responses using iterative techniques that may compound specification errors. Local projection techniques are robust to this problem, and Monte Carlo evidence suggests they provide reliable estimates of the true impulse responses. We use local...

Using a multinomial logit model, this paper looks at the determinants of when tertiary level international students intend to return home upon completion of their studies in New Zealand, be it not return, return immediately, return after some working stint, or return after some further...

Bonus points provide a simple way to improve the accuracy of league standings. We investigate the inclusion of bonuses in the National Football League (NFL) using a prediction model built on league points. Both touchdown-based and narrow-loss bonuses are shown to be significant. Our preferred...

This paper documents expropriation of foreign direct investment (FDI) across all developing coun- tries for the 1993-2006 period, extending work by Kobrin (1980, 1984) and Minor (1994). This unique data set on worldwide expropriation between 1960 and 2006 is used to highlight several...

Food miles measure the distance food travels to reach consumers' plates. Although substituting local food for imported produce will not necessarily reduce greenhouse gas (GHG) emissions, the food miles movement is widely supported by consumers and import-competing producers. We investigate the...

This paper examines the trade policy response of Latin American governments to the rapid growth of China and India in world markets. To explain higher protection in sectors where a large share is imported from these countries, we extend the 'protection for sale' model to allow for different...

This paper surveys computable general equilibrium (CGE) contributions to trade-wage debate. We conclude that this literature provides an avalanche of support for the view that trade has had only a minor influence on wage inequality through Heckscher-Ohlin channels. Moreover, some studies show...

This note considers the extension of the Kemp-Wan theorem on necessarily welfare-improving customs unions to free trade areas. It suggests that the value of this extension is undermined by its very rationale - the greater popularity of free trade areas over customs unions for 'political' reasons.

While two different streams of literature exist investigating 1) the relationship between oil prices and emerging market stock prices and 2) oil prices and exchange rates, relatively little is known about the relationship between oil prices, exchange rates and emerging stock markets. This paper...

Our model describes optimal transfer prices as a function of the number of multi-divisional firms. Decentralized firms imperfectly observe downstream pricing and quantity decisions. Therefore, transfer prices have two strategic functions requiring a trade-off: limiting affiliated downstream...