Bhagwati dishes:

Posted: April 6, 2012 | Author: Daniel J. Smith | Filed under: Free Trade, Health Care, Obama, Uncategorized | Leave a comment »

Sent to you via Google Reader

Bhagwati dishes:

Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels — by Hui Tong, Shang-Jin Wei

Posted: December 5, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Uncategorized | Leave a comment »

Sent to you via Google Reader

Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels — by Hui Tong, Shang-Jin Wei

The Economics of Halloween Candy

Posted: November 2, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Uncategorized | Leave a comment »

Sent to you via Google Reader

The Economics of Halloween Candy

Open Letter to Mitt Romney

Posted: August 17, 2011 | Author: Daniel J. Smith | Filed under: Division of Labor, Free Trade | Leave a comment »

http://cafehayek.com/2011/08/open-letter-to-mitt-romney.html

The Fruits of Free Trade

Posted: August 4, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Protectionism | Leave a comment »

http://dallasfed.org/fed/annual/2002/ar02.pdf

Trade Policy Making in a Model of Legislative Bargaining — by Levent Celik, Bilgehan Karabay, John McLaren

Posted: August 1, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Protectionism, Uncategorized | Leave a comment »

Sent to you via Google Reader

Trade Policy Making in a Model of Legislative Bargaining — by Levent Celik, Bilgehan Karabay, John McLaren

In democracies, trade policy is the result of interactions among many agents with different agendas. In accordance with this observation, we construct a dynamic model of legislative trade policy-making in the realm of distributive politics. An economy consists of different sectors, each of which is concentrated in one or more electoral districts. Each district is represented by a legislator in the Congress. Legislative process is modeled as a multilateral sequential bargaining game a la Baron and Ferejohn (1989). Some surprising results emerge: bargaining can be welfare-worsening for all participants; legislators may vote for bills that make their constituents worse off; identical industries will receive very different levels of tariff. The results pose a challenge to empirical work, since equilibrium trade policy is a function not only of economic fundamentals but also of political variables at the time of congressional negotiations – some of them random realizations of mixed bargaining strategies.

Daniel J. SmithSent via mobile phone
Assistant Professor of Economics
Manuel H. Johnson Center for Political Economy
Troy University
Email: smith.dan.j
Website: http://www.danieljosephsmith.com

The Land that Lean Manufacturing Forgot? Management Practices in Transition Countries

Posted: July 25, 2011 | Author: Daniel J. Smith | Filed under: Economic Freedom, Economic Growth, Free Trade, Globalization | Leave a comment »

http://organizationsandmarkets.com/2011/07/25/another-benefit-of-globalization/

My Debate with Ian Fletcher, Part Trois

Posted: July 20, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Ian Fletcher, Uncategorized | Leave a comment »

Sent to you via Google Reader

My Debate with Ian Fletcher, Part Trois

Humans: Why They Triumphed

Posted: July 12, 2011 | Author: Daniel J. Smith | Filed under: Division of Labor, Economic Freedom, Economic Growth, Free Trade, Prosperity | Leave a comment »

http://online.wsj.com/article/SB10001424052748703691804575254533386933138.html

Bhagwati on the Morality of Free Trade

Posted: June 27, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Uncategorized | Leave a comment »

Sent to you via Google Reader

Bhagwati on the Morality of Free Trade

Munger on Exchange, Exploitation and Euvoluntary Transactions

Posted: June 21, 2011 | Author: Daniel J. Smith | Filed under: Exploitation, Free Trade | Leave a comment »

http://www.econtalk.org/archives/_featuring/mike_munger/

Trade is Trade

Posted: March 12, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Uncategorized | Leave a comment »

Sent to you via Google Reader

Trade is Trade

My Continuing Conversation With Ian Fletcher

Posted: March 12, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Uncategorized | Leave a comment »

Sent to you via Google Reader

My Continuing Conversation With Ian Fletcher

Reinhardt on Trade

Posted: February 19, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Uncategorized | Leave a comment »

Sent to you via Google Reader

Reinhardt on Trade

Princeton economist Uwe Reinhardt has some observations about free trade, picking up where I left off in my recent

Food, Famine, and Globalization

Posted: February 17, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Globalization, Poverty, Prosperity, Uncategorized | Leave a comment »

Sent to you via Google Reader

Food, Famine, and Globalization

Trade is Mutually Advantageous

Posted: January 31, 2011 | Author: Daniel J. Smith | Filed under: Free Trade | Leave a comment »

http://cafehayek.com/2011/01/trade-is-mutually-advantageous-and-its-advantages-for-all-parties-are-measured-in-imports.html

Leland B. Yeager, Free Trade: America’s Opportunity

Posted: January 27, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Protectionism | Leave a comment »

http://oll.libertyfund.org/index.php?option=com_staticxt&staticfile=show.php%3Ftitle=2038

If We Win the Future, Who Loses?

Posted: January 26, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Stimulus | Leave a comment »

http://blogs.forbes.com/artcarden/2011/01/26/if-we-win-the-future-who-loses/

Latin America Needs Free Trade & Drug Legalization

Posted: January 7, 2011 | Author: Daniel J. Smith | Filed under: Drugs, Free Trade, Uncategorized | Leave a comment »

Sent to you via Google Reader

Latin America Needs Free Trade & Drug Legalization

Trade is Good

Posted: January 6, 2011 | Author: Daniel J. Smith | Filed under: Free Trade, Manufacturing | Leave a comment »

http://mungowitzend.blogspot.com/2011/01/trade-is-good.html

Trade and Globalization

Posted: December 19, 2010 | Author: Daniel J. Smith | Filed under: Free Trade, Globalization, Uncategorized | Leave a comment »

Sent to you via Google Reader

Trade and Globalization

Deirdre McCloskey interviewed

Posted: December 4, 2010 | Author: Daniel J. Smith | Filed under: Capitalism, Economic Freedom, Economic Growth, Free Trade | Leave a comment »

http://econlog.econlib.org/archives/2010/12/farmers_forager.html

“You can measure the shifting significance of bourgeois words: honesty, profit, responsibility, monopoly, etc., by looking in historical dictionaries and historical texts in all the languages of commerce, from 1600 to 1848. “Responsibility,” for example, is entirely modern (and thus measurable: It’s zero before 1800, commonplace afterward). The equivalent word before 1800, as one can see from the Oxford Thesaurus (based on the Oxford English Dictionary), is “duty.” In a hierarchical society, one has one’s duty to one’s master, period. In a modern and bourgeois society, the duty is turned inward and becomes a character trait essential for a modern enterprise: responsibility.”

An Open Letter to Sen. Sherrod Brown

Posted: October 4, 2010 | Author: Daniel J. Smith | Filed under: Free Trade, Protectionism | Leave a comment »

http://cafehayek.com/2010/09/an-open-letter-to-sen-sherrod-brown.html

Only trade-fuelled growth can help the world’s poor

Posted: September 21, 2010 | Author: Daniel J. Smith | Filed under: Development Economics, Economic Growth, Foreign Aid, Free Trade, Uncategorized | Leave a comment »

Sent to you via Google Reader

Only trade-fuelled growth can help the world’s poor

Johan Norberg : Globalisation is Good (Part 1/4)

Posted: August 31, 2010 | Author: Daniel J. Smith | Filed under: Free Trade, Globalization | Leave a comment »

http://www.youtube.com/watch?v=pp7g9mT8s7Y

DECENTRALIZED TRADE MITIGATES THE LEMONS PROBLEM

Posted: May 22, 2010 | Author: Daniel J. Smith | Filed under: Free Trade, Uncategorized | Leave a comment »

In markets with adverse selection, only low-quality units trade in the competitive equilibrium when the average quality of the good held by sellers is low. We show that under decentralized trade, however, both high- and low-quality units trade, although with delay. Moreover, when frictions are small, the surplus realized is greater than the (static) competitive surplus. Thus, decentralized trade mitigates the lemons problem. Remarkably, payoffs are competitive as frictions vanish, even though both high- and low-quality units continue to trade, and there is trade at several prices.

http://www3.interscience.wiley.com/journal/123445600/abstract#fn8

BIGGER IS BETTER: MARKET SIZE, DEMAND ELASTICITY, AND INNOVATION

Posted: May 22, 2010 | Author: Daniel J. Smith | Filed under: Free Trade, Population, Protectionism, Uncategorized | Leave a comment »

http://www3.interscience.wiley.com/journal/123445607/abstract

This article proposes a novel mechanism whereby larger markets increase competition and facilitate process innovation. Larger markets, in the sense of more people or more open trade, support a larger variety of goods, resulting in a more crowded product space. This raises the price elasticity of demand and lowers markups. Firms, therefore, become larger to break even. This facilitates process innovation, as larger firms can amortize R&D costs over more goods. We demonstrate this mechanism in a standard model of process and product innovation. In doing so, we question some important results in the new trade and endogenous growth literatures.