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What can we expect from the Trump Administration?

What can we expect from the Trump Administration?

Donald Trump’s election as President of the United States has sparked a great deal of speculation. In this post, we will analyze the political viability of some of his proposals and explore the effects that their implementation may have on the United States and the rest of the world. Immigration:Read More

On the Old Topic of Political Economy: Free Trade or Protectionism?

On the Old Topic of Political Economy: Free Trade or Protectionism?

When we talk about Industrial protectionism, it is common to think of underdeveloped countries and, in particular, Latin American countries during the period of import-substitution industrialization. However, there are other historical cases of interest.  For example, during the second half of the 19th century, trade policy in the United StatesRead More

Institutions and development: Some thoughts and open questions

Institutions and development: Some thoughts and open questions

Capitalist institutions have clearly brought about a great deal of progress in what are today’s developed countries. It is therefore no wonder that the prevailing belief in institutional economics is that underdevelopment is chiefly a consequence of institutional shortcomings. The prevailing idea in the literature is that some countries haveRead More

Let Coase Give Us a Ride Home. By Sebastian Galiani and Gustavo Torrens

The technology that will be needed to produce fully self-driving cars (FSDCs) is now within reach. Engineers are working on prototypes and, sooner rather than later, will have a commercial version ready. However, there is an institutional barrier that may interfere with the adoption of this important technology: Insurance companiesRead More

The political economy of international migration. Sebastian Galiani and Gustavo Torrens

The problems associated with the current wave of migration into Europe has put the debate about migration policy back at the top of the public agenda. Similar discussions will no doubt take place during the coming year as the United States gears up for its next presidential elections. Opinions andRead More