Multinational firms have contributed to economic growth in the developing world. But the risk of growing corporate power is that it abuses this power. How does one balance the two concerns? Merely returning these countries to "localism" will not work, argues this economist. He offers his own...

There is no reason to despair about the world's ability to reduce the environmental damage due to the use of fossil fuels. Growing nations have solved similar problems before, argues the author. But it will take serious government commitment to investment in a search for new technologies. This,...

Temporary price reductions or “sales†have become increasingly important in the evolution of the price level. We present a model of repeated price competition to illustrate how entry causes incumbents to alternate between high and low prices. Using a six year panel of weekly...