How should monetary authorities react to an oil price shock? The New Keynesian literature has concluded that ensuring complete price stability is the optimal thing to do. In contrast, this paper argues that a meaningful trade-off between stabilizing inflation and the welfare relevant output gap arises in a distorted economy once one recognizes (i) that oil (energy) cannot be easily substituted ...

negotiating is the process of communicating back and forth for the purpose of reaching a joint agreement about differing needs or ideas. for successful negotiations, both parties should come to the negotiating table with having done some serious thinking about the barriers to and complexities of cross- cultural communications. there are four phases in negotiations: relationship building, inform...

INTRODUCTION Commercial multilateralism is losing spaces in South America to regional and bilateral agreements due to the lack of normative and empirical legitimacy of the World Trade Organization (WTO). This developing process is analyzed in the following article from the conceptual context of parts of the extensive and rich work by Julia Barragán. Her work also contributes with tools for ackn...

This paper investigates the role of oil rents as implicit transfers that redistribute global income through international trade channels. It involves estimating these rents, calculating redistributive effect, exploring exports and imports different impact depending on per capita. The results document (i) lead to a positive but declining reduction in inequality, although it becomes regressive af...

Australia is a federation of States. This political structure necessitates collaborative arrangements between Australian governments to harmonize national regulation of gene technology and food standards. Extensive political negotiation among institutions of federal government has managed regulation of GM crops and food. Well-developed human resources in Australian government provided numerous ...