This paper discusses, in a very general way, a system of IMF insurance against sovereign default that could be offered to private lenders and banking groups. The system could overcome many of the current issues that plague the international private lending market, such as moral hazard on the...

The seminal work by Ramaswami (1968) comparing the advantages of allowing international labor inflows with those of foreign investment elicited an immediate response from Webb (1970). and subsequent elaborations by Bhagwati (1979). Calvo and Wellisz (1983), Bhagwati and Srinivasan (1983), and...

Revenue sharing is a common league policy in professional sports leagues. Several motivations for revenue sharing have been explored in the literature, including supporting small market teams, affecting league parity, suppressing player salaries, and improving team profitability. We investigate...

An intertemporal partial equilibrium model of the U.S. steel industry is developed which stresses imperfect competition, and the interaction between the large declining integrated steel producers and the entry of the new efficient mini-mills. A central question is whether trade and industrial...

A model of entry by a small exporting country into a large country market with an incumbent monopolist is constructed, and export promotion policy is examined. In the presence of strategic entry deterrence by the large country incumbent firm a number of situations can emerge, including the...

We develop a dynamic model of inventory investment and trade to examine how firms adjust to changes in international trade costs when facing a risk of stockouts due to demand uncertainty and order lead times for imports. We study two strategies firms may use to avoid stockouts, namely holding...

This paper shows that governments have no incentive to introduce non-tariff barriers when they are free to set tariffs but they do when tariffs are determined cooperatively. We then show three results. First, with trade liberalization, there is a progression from u sing tariffs only to quotas,...

This paper examines interbrand competition between a domestic and a foreign manufacturer who market their products through intermediaries. The contracts manufacturers offer these intermediaries are endogenous. In equilibrium contracts may specify exclusive territories (ET), depending on the...

This paper investigates the contractual choice between exclusive dealing and common agency in a simple international oligopoly model where products are sold through intermediaries. We find that when trade barriers are high domestic firms tend to adopt exclusive dealing contracts, whereas trade...

This paper investigates the implications for international markets of the existence of retailers/wholesalers with market power. Two main results are shown. First, in the presence of buyer power trade liberalization may lead to retail market concentration. Due to this concentration retail prices...