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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 ...
Optimim Tariffs and Retaliation: How Country Numbers Matter
(Vanderbilt University, 2009)
This paper identifies a new terms-of-trade externality that is exercised through tariff setting. A North-South model of international trade is introduced in which the number of countries in each region can be varied. As ...