An agricultural price range system (PRS) aims to stabilize local prices in an open economy via the use of import duties that vary with international prices. The policy is inherently distortionary and welfare-reducing for a small open economy, at least according to the canonical economic model....

Many bidders enter the Government of Canada securities auctions with short or long pre-auction inventory. We find that bidding strategies and auction performance vary with pre-auction ownership structure. Short and long bidders bid higher average prices and demand larger quantities than do...

This article examines the relationship between antidumping duties and strategic industrial policy. We argue that the dynamic between the two instruments is more complex and elaborate than that offered by the conventional account. We use the recent China-X-Ray Equipment dispute as a case study to...

The World Trade Organization (WTO) is held out as an exemplar of an effectively functioning international “court.” Yet, a puzzle remains unexplained: in WTO litigation, a respondent found to have enacted an illegal trade policy measure needs only to remedy the illegality. So long as it does,...

In the past decade, the World Trade Organization (WTO) has adjudicated over forty disputes involving China and other powerful economies. These cases are often trumpeted as a sign of the enduring strength of the trade regime and the efficacy of international law in managing geopolitical tensions...

This paper examines the extent to which the international trade regime impacts the international investment regime. While commentators have identified rich areas of cross-fertilization and suggested increasing convergence between the two regimes, the evidence reveals only a limited and selected...

In 2008, the Central Bank of Iceland changed its discriminatory method for auctioning treasury bonds and bills, replacing it with the uniform-price method. By using the Central Bank of Iceland's bid-level data and the Nasdaq Nordic's secondary market transaction data jointly, we measure...

The legal-economic implications of how WTO members apply an import-restricting safeguard measure become more complex in light of the increasing web of trade concessions undertaken through their preferential trade agreements (PTAs) in addition to their WTO commitments. This paper examines a...