We develop a model in which it is uncertainty about the future domestic policy environment that both makes international cooperation attractive and induces the possibility of a nation reneging on such an international agreement. We show, in a fairly general setting that the possibility of exit...

We develop a model in which it is uncertainty about the future domestic policy environment that both makes international cooperation attractive and induces the possibility of a nation reneging on such an international agreement. We show, in a fairly general setting in which the likelihood of...

We construct a Hotelling-type model of two media providers, each of whom can issue fake and/or real news and each of whom can invest in the debunking of their rival’s fake news. The model assumes that consumers have an innate preference for one provider or the other and value real news....

This paper explores the consequences of discriminatory trade liberalization in the presence of quota-protected single-firm industries. In recent years, trade liberalization among developing nations increasingly has occurred outside of the multi-lateral, GATT-based, negotiating rounds. Instead we...

Social capital is generally interpreted as the degree of trust, co-operative norms and networks and associations within a society. Economists have become increasingly interested in social capital, following the seminal work of Coleman (1988) and Putnam (1993). Since the publication of these...

There is a growing literature which analyses, using cross-country data, whether institutions or geography is the most important deep determinant of income per capita. The empirical proxies used for institutions in this literature, however, focus only on formal institutions, rather than informal...