Endowments, Exclusion, and Exchange
We propose a new solution for discrete exchange economies and resource-allocation problems, the exclusion core.
Research
The Currency Manipulation Game Is Afoot – but That’s Better Than a Trade War
The trade war between the United States and China is heating up again, with U.S.
Valuing US National Parks and Programs: America’s Best Investment
This book provides the first comprehensive economic valuation of US National Parks (including Monuments, Seashores, Lakeshores, Recreation Areas, Historic sites) and National Park Service (NPS) Progra
China, Like the US, Faces Challenges in Achieving Inclusive Growth Through Manufacturing
For more than three decades the goal of becoming “the factory of the world” has been at the core of China's development strategy.
Italian Renaissance Portraits that Disappoint: Isabella d’Este, Francesco del Giocondo and Other Displeased Patrons
The successful fruits of Italian Renaissance patronage were often prominently displayed by the original owners and written up favorably by their contemporaries and ours.
China's Overseas Lending
Compared with China’s dominance in world trade, its expanding role in global finance is poorly documented and understood.
When Your Job Is Your Identity, Professional Failure Hurts More
Jake is three and he is tired. He wants to be picked up and held. “It’s okay sweetie,” his mom, Kate, sings as she reaches down to pick him up.
First-Price Auctions with Budget Constraints
Consider a first-price, sealed-bid auction with interdependent valuations and private budget constraints.
Book Review: Gert Crum and Jan Bartelsman: Le Domaine de la Romanée-Conti
When I first opened the package containing this massive volume about the fabled Domaine de la Romané-Conti (known by oeneophiles around the world as DRC), my first thought was the episode of Seinfeld,
The Currency-Plus-Commodity Basket: A Proposal for Exchange Rates in Oil-Exporting Countries to Accommodate Trade Shocks Automatically?
The paper proposes an exchange rate regime for oil-exporting countries. The goal is to achieve the best of both flexible and fixed exchange rates.
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