As an integrated part of a supply contract, trade credit has intrinsic connections with supply chain contracting and inventory management. Using a stylized model that explicitly captures the interaction of firms’ operations decisions and financial risks, this paper attempts to develop a deeper understanding of trade credit from an operational perspective. Revolving around the question of what r...

This paper studies a dynamic network economy where risk averse traders trade multi-laterally over the counter but cannot commit to fulfill their short positions. We show that, although the level of trade is below the first-best, bilateral clearing with collateral can provide an allocation superior to those without collateral. However, with use of collateral, the optimal bilateral clearing contr...

Does globalization affect the demand-side of politics, and if so, how? This paper builds on new developments in trade theory to argue that globalization matters, but that its effects on individuals’ perceptions of labor market risk and policy preferences are more heterogenous than previous research has acknowledged. Globalization exposure increases risk perceptions and demands for social protec...

Fear of predation produces large effects on prey population dynamics through indirect risk effects that can cause even greater impacts than direct predation mortality. As yet, there is no general theoretical framework for predicting when and how these population risk effects will arise in specific prey populations, meaning that there is often little consideration given to the key role predator ...

This paper is concerned with the Trade Policy Review Mechanism (TPRM), an important policy review function of the WTO. From a developing country perspective, a truly effective TPRM should accomplish several interrelated goals which together should add up to a boost to investor confidence in developing country markets. Several improvements that may move us closer to such a regime are discussed. ...

We explore the consequences of placing the Standard Model gauge fields in the bulk of the recently proposed localized gravity model of Randall and Sundrum. We find that the Kaluza Klein excitations of these fields are necessarily strongly coupled and we demonstrate that current precision electroweak data constrain the lowest states to lie above ' 23 TeV. Taking the weak scale to be ∼ 1 TeV, the...