W hether the United Kingdom (UK) should remain in the European Union (EU) or not has been a fiercely debated issue both before and after the referendum in the UK on June 23, 2016. The main purpose of this paper is to evaluate the pros and cons of the UK leaving the EU. It is concluded that if the UK leaves the EU, the resulting economic shock would risk adverse effects on macroecono...

The fishing industry not only acts as foreign exchange earner but also plays an important role in China’s economy. But with the development of technology and liberalization of international trade, the foreign countries adopted in succession trade barriers to limit China’s fishery product export, which had make China’s fishery product export disproportionated with fishery products production. By...

Advances in modern science and technology and the globalisation of the veterinary manufacturing industry, coupled with the relaxation of trade restrictions by the General Agreement on Tariffs and Trade treaty on sanitary and phytosanitary measures, call for an international approach to standards of acceptable risk and risk analysis methodology. In Australia, different elements of risk analysis ...

We extend a standard, rational expectation model of trade to incorporate the possibility of individual investors delegating their trades to an informed financial intermediary. In the presence of delegated trade, we show that a firm’s risk premium is a function of both the firm’s exposure to a common risk factor and idiosyncratic characteristics of the firm’s information environment. We show tha...

Information frictions are often invoked to explain low levels of international trade beyond those that measured trade frictions (tariffs, transportation costs, etc.) can explain. But to explain why international trade is lower then domestic trade, home firms have to know something that foreigners do not. Without information asymmetry, domestic trade and foreign trade would be inhibited equally....