We develop a simple and intuitive Pigouvian perspective on optimal trade policy. Our approach unifies a wide range of rationales for taxing trade, from the classical optimal tariff argument to contemporary debates about global carbon emissions and geopolitics. We also clarify when trade policy intervention is warranted and when alternative domestic instruments should be used instead.
Friday, December 12, 2025 FDA’s Efforts to Recall Faulty Medical Devices Limited by Insufficient Staffing The Food and Drug Administration (FDA) is responsible foroverseeing the safety of medical devices sold in the U.S. and issuingrecalls when they’re found to be unsafe. But recent headlines andhigh-profile lawsuits have drawn attention to the effectiveness of FDA’sefforts. We’ll…
News release The Governor of the Bank of England, Andrew Bailey, has announced that Rhys Phillips will be the next Chief Cashier and Director of Notes. He will take up the role on 19 October 2026. Governor Andrew Bailey said: “Banknotes play a central role in public life. They serve not just as a means of…
Firms often rebrand to counter negative shocks, but can it work? Using a historical natural experiment, we analyze a large sample of companies from the same industry (banking) that shared very similar names, but overwhelmingly decided to change them in response to a common, negative news shock. U.S. entry into World War I in 1917…
Innovation Jul 13, 2026 Ana Palacio AI governance must account for everything from the technology’s material requirements to its effects on communities, businesses, labor markets, the environment, and strategic competition. To this end, a framework of verification-based trust—broader than national regulation and…
New leader doesn’t change perverse incentives of government beng Mon, 07/06/2026 – 11:08 EST. READ TIME 4 MIN. The Carney government has faced widespread backlash after announcing plans to partner with the British Columbia government to purchase 2,200 vacant condos with taxpayer dollars and convert them into “affordable” housing. The criticism is well earned. The…
The tax justice movement awaits the publication of the first full draft of the UN Framework Convention on International Tax Cooperation (UNFCITC). It is expected within the coming days. For those not intimately following the UN intergovernmental negotiations over the last two years, the Report of the High Level Panel on Illicit Financial Flows from…