opportunism and collective values. Shadow markets may, however, enhance consumer welfare by limiting the pricing power of firms …

the excessive entry prediction. Tax evasion raises the number of firms in market equilibrium and can alter their welfare … the direct welfare consequences of tax evasion and the relationship between evasion and the tax base. We also determine … conditions which imply that overall welfare declines with tax evasion. …

(PTAs) and show that the indirect effects can give rise to trade diversion. We also characterize the welfare effects of … persistent finding is that, in the absence of appropriate regulation, preferential trade liberalization can be welfare …

Trade unions are often argued to cause allocative inefficiencies and to lower welfare. We analyze whether this … welfare. We find that an increase in the union's bargaining power raises welfare if the (inverse) demand curve is …

strategic trade policy intervention (tariff) on wages and welfare in a two-country general oligopolistic equilibrium (GOLE … the wages in domestic country. In addition, the welfare of the tariff-imposing country unambiguously comes down. Second, a …