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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 ...
Social Conflict and the Stolper-Samuelson Theorem
(Vanderbilt University, 2011)
This paper presents a new theory of trade policy-making based on the possibility of social conflict, and determines the conditions under which it will apply. In a setting where property rights are poorly enforced, the paper ...