This paper extends the technique of integrated equilibrium analysis to con - sider a trading world with unemployment due to a wage floor. Unlike previous models with wage floors, world goods prices and patterns of production are endogenous. This more general analysis of a trading world allows...

Debate over regulation of dismissals has been intense in recent years, and renewed in the lead-up to the 2012 review of the operation of the Fair Work Act. This paper reviews the economically relevant aspects of the legislative changes from the Workplace Relations Act which operated from...

<title>Abstract</title> Despite overwhelming empirical evidence of the failure of factor price equalization, most teaching of international trade theory (even at the graduate level) assumes that economies are incompletely specialized and that factor price equalization holds. The behavior of trading economies...

<title>Abstract</title> Jacob Viner was one of the most important interpreters of Adam Smith's work, particularly for his emphasis in a classic 1927 article on Smith's theological framework, his discussion of the relationship between the <italic>Theory of Moral Sentiments</italic> and the <italic>Wealth of Nations</italic> and dismantling of a...