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The Structure and Performance of the World Market in a Cobb-Douglas Example
(Vanderbilt University, 2006)
In an international trading economy where countries set tariffs strategically, modeled using a Cobb-Douglas example, this paper studies the relationship between the structure and the performance of the world market. Using ...
Pampered Bureaucracy and Trade Liberalization
(Vanderbilt University, 2010)
This paper shows how a nation's elite maintain ownership of their wealth by creating a `pampered bureaucracy.' The elite thus divert part of an otherwise entrepreneurial middle class from more productive manufacturing ...
Why are Trade Agreements Regional?
(Vanderbilt University, 2010)
This paper shows how distance may be used to coordinate on a unique equilibrium in which trade agreements are regional. Trade agreement formation is modeled as coalition formation. In a standard trade model with no distance ...
The GATT and Gradualism
(Vanderbilt University, 2006)
This paper shows how the institutional rules imposed on its signatories by the GATT created a strategic incentive for countries to liberalize gradually. Trade liberalization must be gradual, and free trade can never be ...
Is the WTO's Article XXIV Bad?
(Vanderbilt University, 2009)
This paper shows that the WTO's Article XXIV increases the likelihood of free trade, but may worsen world welfare when free trade is not reached and customs unions (CUs) form. We consider a model of many countries. Article ...