The Theory of Second Best suggests that introducing new distortions in an imperfect economy can offset existing distortions.

International trade increases the measure of firms in the market, intensifies competition, lowers markups, and unambiguously increases welfare. These "natural" effects of trade emerge generically in ...

As this legal and moral framework disintegrates, the selective, opportunistic, and self-serving responses of the US to global ...

US President-elect Donald Trump has said one of his first acts will be to slap 25% tariffs on Canada and Mexico, a move which would cause havoc for two of America's key economic partners.

I coined the phrase “the era of strategic happy talk” to describe the early 1990s, during which time U.S. policymakers bought ...

Transport leaders aspire to transform vital sector The formal economic sector of transportation and logistics in Lebanon ...

The investment return, price, yields, market value and net asset value ("NAV") of a fund's shares will fluctuate with market conditions. Closed-end funds frequently trade at a discount ... including ...

Critics have accused the Trudeau government and Ms. Freeland of spending wildly and running up unsustainable deficits. The ...

Elhanan Helpman and Paul R. Krugman, Market Structure and Foreign Trade: Increasing Returns, Imperfect Competition, and the International Economy, 1985. Robert C. Feenstra, Advanced International ...