Journal Article
The theory and practice of free trade
Ruffin, Roy J.; Gould, David M.; Woodbridge, Graeme L. (1993-12)
David M. Gould, Roy J. Ruffin, and Graeme L. Woodbridge argue that free trade is supported both by economic principles and evidence from countries that have followed open market policies. The authors demonstrate that the countries whose markets are the most open have higher real output and economic growth. ; The authors show that many arguments for protection obscure the benefits countries derive from international trade. High-wage countries not only can compete with low-wage countries, they dominate the world economic stage. Trade deficits or surpluses are not inherently bad or good, but ...
Economic and Financial Policy Review , Issue Dec , Pages 1-16

Journal Article
Can Mexico weather its next election cycle?
Gould, David M. (1999-11)
Southwest Economy , Issue Nov , Pages 10-14

Journal Article
The U.S. trade deficit with Japan
Gould, David M. (1992-05)
Southwest Economy , Issue May , Pages 4

Journal Article
Beyond the border : Latin American central banking
Marion, Justin; Gould, David M. (1998-07)
Southwest Economy , Issue Jul , Pages 12-13

Journal Article
Distinguishing NAFTA from the peso crisis
Gould, David M. (1996-09)
Southwest Economy , Issue Sep , Pages 6-10

Journal Article
Income taxes as reciprocal tariffs
Ruffin, Roy J.; Gould, David M.; Cox, W. Michael (1998-07)
This article shows the equivalence between tariffs on international trade and income taxation. Traditionally, income taxes have been seen as lowering society's output through the household's labor-leisure trade-off. Income taxes also reduce the degree to which individuals specialize in market activity, which is similar to the way countries respond to tariffs in international trade. Income taxes discourage individuals from specializing in activities that reflect their comparative advantage. In so doing, income taxes may have their most distorting effects, not by encouraging individuals to ...
Economic and Financial Policy Review , Issue Q III , Pages 2-9

Working Paper
Does the choice of nominal anchor matter?
Gould, David M. (1999)
The conventional wisdom on nominal anchors is that exchange rate-based inflation stabilizations lead to economic booms while monetary-based stabilizations lead to recessions. This study finds strong evidence against this view. Rather than determining the path of economic growth, the choice of nominal anchor appears to be endogenously determined by the state of the economy. To peg or manage the exchange rate, a high level of international reserves is important, especially when a government's credibility is low after a period of high inflation. After controlling for the level of ...
Center for Latin America Working Papers , Paper 0499

Conference Paper
The impact of monetary policy on exchange rates during financial crises
Kamin, Steven B.; Gould, David M. (1999-09)
Proceedings , Issue Sep

Working Paper
Immigrant links to the home country: empirical implications for U.S. and Canadian bilateral trade flows
Gould, David M. (1991)
Working Papers , Paper 9102

Working Paper
Human capital externalities, trade, and economic growth
Ruffin, Roy J.; Gould, David M. (1993)
Human capital, because of its special role in innovative activity and technological progress, has formed the bedrock of the new theories of endogenous growth. Human capital, however, not only serves as an engine of growth, but also as a productive input along with labor and physical capital. In this study, we distinguish between these two roles of human capital and find evidence of the importance of both. We also find that the relationship between growth and the external effects of human capital vary according to trade regime. When literacy rates are relatively high, open economies grow about ...
Working Papers , Paper 9301