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Working Paper
Three-factor general equilibrium models: a dual, geometric approach
This paper develops dual, geometric techniques for two popular three-factor general equilibrium models: the specific-factor model and the Krueger model of economic development. Several comparative static exercises from international trade theory illustrate how these models easily lend themselves to geometric exposition.
Conference Paper
Factors driving global economic integration : commentary
Conference Paper
Shifts in economic geography and their causes : commentary
Working Paper
Mercantilism as strategic trade policy: the Anglo-Dutch rivalry for the East India trade
This paper provides a reinterpretation of seventeenth-century mercantilist trade doctrine and policy in light of recent theories of strategic trade policy. Mercantilist economic thought, like strategic export-promotion theories, emphasized the use of government policy to capture rents that arise from imperfect competition in international trade. The economic structure of the Anglo-Dutch rivalry for the East India trade provides an excellent illustration of an environment in which the profit-shifting motive for strategic trade policies exists. Using data from the seventeenth-century East India ...
Working Paper
The GATT's contribution to economic recovery in post-war Western Europe
By freeing Europe's regional and international trade from tariffs and other trade barriers, the General Agreement on Tariffs and Trade (GATT) has often been hailed as a key factor in promoting the post-war economic recovery in Western Europe and in preventing a return to the disaster of the interwar period. This paper describes and assesses the contribution of the GATT in supporting economic recovery in Western Europe in the decade after 1947. The formation of the GATT by itself does not appear to have stimulated a particularly rapid liberalization of world trade during this period. It is ...
Working Paper
Free trade at risk? An historical perspective
The recent theoretical literature on strategic trade policy suggests that government intervention in international trade has the potential to be welfare-improving, thus bringing into question the traditional economic case for free trade. Economists in the nineteenth century also argued about whether theoretical justifications for tariffs compromised the case for free trade. This paper discusses two older debates somewhat related to the current focus on strategic industries and reciprocity, and concludes with an observation about how developments in economic theory affect economists' view of ...