This article presents a general equilibrium model in which middlemen emerge to facilitate trade in an environment of idiosyncratic tastes and heterogeneous goods. The gains to the traders can be measured along three dimensions: The rate of production, the time-preference losses generated by the...

Our paper extends the capital tax competition literature by incorporating heterogeneous capital and agglomeration. Our model nests the standard tax competition model as well as the special case in which there is agglomeration but no firm/capital heterogeneity and the opposite case, firm...

Fortin's analysis of the causes of the increase in Canada's debt-to-output ratio is reconsidered. We find that the analysis hinges upon a number of supplementary decisions, and that reasonable choices give rise to results strikingly different from those obtained by Fortin. We also extend...

Future<strong> </strong>scenarios provide challenging, plausible and relevant stories about how the future could unfold. Urban Futures (UF) research has identified a substantial set (450) of seemingly disparate scenarios published over the period 1997–2011 and within this research, a sub-set of 160 scenarios...