This note considers the well-known theorem of M. Kemp and H. Wan concerning the welfare gains from the formation of customs unions. The author argues that the theorem may not imply that a union can unilaterally guarantee a welfare gain if nonmembers set tariffs optimally against the union. He...

The author considers local content requirements in a second-best environment with foreign capital flows and explores the consequences for domestic producers of final goods. The author derives an expression for the welfare consequences of content protection in a competitive general equilibrium...

Home In a simple model of trade and competition policies we show that the abolition of trade restrictions may lead to governments independently choosing more competitive competition policies. Subsequent co-ordination of competition policy involves encouraging less competitive behaviour than when...

This paper estimates a neoclassical growth model that includes female and male education as separate explanatory variables. The model can be reparameterised so that the gender gap in education enters the model. The interpretation of its coefficient depends crucially on what other education...