The Macroeconomics of Corporate Debt
The Europe Center is jointly housed in the Freeman Spogli Institute for International Studies and the Stanford Global Studies Division.
We analyze unilateral, efficient and Nash trade policies in a symmetric, two-country version of the Melitz-Ottaviano (2008) model. Starting at global free trade, we show that a country gains from the introduction of (1) a small import tariff; (2) a small export subsidy, if trade costs are low and the dispersion of productivities is high; and (3) an appropriately combined small increase in its import and export tariffs. The welfare of its trading partner, however, falls in each of these three cases. The market may provide too little or too much entry, depending on a simple relationship among model parameters. Correspondingly, global free trade is generally not efficient, even within the class of symmetric trade policies. We also provide conditions under which, starting at the symmetric Nash equilibrium, countries can mutually gain by exchanging small reductions in import tariffs, export tariffs or combinations thereof. More generally, we show that Nash equilibria are inefficient while “politically optimal” policies are efficient, indicating a central role for the terms-of-trade externality. We also discuss why the model's implications for the treatment of export subsidies in trade agreements differ from those that obtain in a model with CES preferences for the differentiated-goods sector.
Tim Haughton is a Senior Associate Professor of European Politics at the University of Birmingham, where he served as Head of the Department of Political Science and International Studies (2016-18) and the Director of the Centre for Russian, European and Eurasian Studies (2012-14). Dr Haughton was educated at the London School of Economics and University College London. He has held Visiting Fellowships at Harvard University’s Center for European Studies, the Institute for Human Sciences in Vienna, the Institute of International Relations in Prague, Colorado College and was an Austrian Marshall Plan Foundation Fellow at Johns Hopkins University's School of Advanced International Studies. Dr Haughton has good links with the policymaking community, having briefed inter alia five British Ambassadors to Slovakia before they took up their posts, and given several presentations on Central European politics at the Foreign Office in London and at the State Department in Washington DC.
Tim’s research interests encompass electoral and party politics, electoral campaigning, the role of the past in the politics of the present, the domestic politics of Slovakia, Slovenia and the Czech Republic and Brexit. He is the co-author with Kevin Deegan-Krause of The New Party Challenge: Changing Cycles of Party Birth and Death in Central Europe and Beyond (Oxford University Press, 2020), the author of Constraints and Opportunities of Leadership in Post-Communist Europe (Ashgate 2005), the editor of Party Politics in Central and Eastern Europe: Does EU Membership Matter? (Routledge, 2011) and served as the co-editor with Nathaniel Copsey of the Journal of Common Market Studies’ Annual Review of the European Union for nine years (2008-16).
Kevin Deegan-Krause is an Associate Professor of Political Science at Wayne State University. He received his undergraduate degree in Economics from Georgetown University in 1990 and his doctorate in Government from the University of Notre Dame in 2000. He has spent more than two decades studying how political parties compete against one another, and how that competition shapes what happens in a democracy. He has published what he learned from research on European political parties in several books book (Elected Affinities: Democracy and Party Competition in Slovakia and the Czech Republic published by Stanford University Press in 2006 and The New Party Challenge: Changing Cycles of Party Birth and Death in Central Europe and Beyond, published by Oxford University Press in 2020) and many articles in political science journals and he has been the editor of several other books and the European Journal of Political Research Political Data Yearbook (politicaldatayearbook.com) which provides an annual summary of political developments in European, North American and Asian democracies. His ongoing research focuses on the emergence of new political parties and the transformation of existing ones.
Together with his wife Bridget and his children Elena and Peter, Kevin is also engaged in his local community of Ferndale, Michigan, and in broader public concerns. He received a Truman Scholarship for public service in 1988, and his commitment to public service has included work with the U.S. Department of State and the Fulbright Commission, election observation with the Organization for Security and Cooperation in Europe, as well as service on Ferndale's elected Library Board and School Board. He has also worked with many other local voluntary organizations and nonpartisan advocacy groups including promoting fair district boundaries with Voters Not Politicians and encouraging ranked-choice voting with RankMIVote. His commitment to voter turnout and other forms of civic engagement is also part of his classroom teaching, including his introductory courses on the city of Detroit and engaged citizenship for students in Wayne State University's Honors College.
Co-sponsored by the Global Populisms Project
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For generations, British thinkers told the history of an empire whose story was still very much in the making. While they wrote of conquest, imperial rule in India, the Middle East, Africa, and the Caribbean was consolidated. While they described the development of imperial governance, rebellions were brutally crushed. As they reimagined empire during the two world wars, decolonization was compromised. Priya Satia shows how these historians not only interpreted the major political events of their time but also shaped the future that followed.
Satia makes clear that historical imagination played a significant role in the unfolding of empire. History emerged as a mode of ethics in the modern period, endowing historians from John Stuart Mill to Winston Churchill with outsized policymaking power. At key moments in Satia’s telling, we find Britons warding off guilty conscience by recourse to particular notions of history, especially those that spotlighted great men helpless before the will of Providence. Braided with this story is an account of alternative visions articulated by anticolonial thinkers such as William Blake, Mahatma Gandhi, and E. P. Thompson. By the mid-twentieth century, their approaches had reshaped the discipline of history and the ethics that came with it.
Time’s Monster demonstrates the dramatic consequences of writing history today as much as in the past. Against the backdrop of enduring global inequalities, debates about reparations, and the crisis in the humanities, Satia’s is an urgent moral voice.
Populist radical right parties are more successful in some areas than others. However, when trying to explain geographical patterns of support for the populist radical right, similar outcomes in otherwise different contexts and different outcomes in otherwise similar contexts can be observed. In this paper, we show that this paradox can be understood when we examine how citizens are affected differently by the context in which they live. Using a unique dataset containing geocoded survey data and contextual data from four countries (DE, FR, NL and UK), we demonstrate that mediating and moderating variables, such a perceptions of local decline and education level shape the relationship between contextual development such as the increasing presence of immigrants, on the one hand, and populist and nativism attitudes and PRR support, on the other hand.
A draft copy of this research paper may be downloaded by using the link provided below under "Event Materials".
Sarah L. de Lange is Professor by special appointment at the Department of Political Science at the University of Amsterdam, where she holds the Dr. J.M. Den Uyl chair. Her research interests include societal cleavages, political parties, and extremism, populism, and radicalism. Her recent research projects focus on the emergence of new political oppositions in Europe on that basis of, amongst others, geographical, generational, and educational divides. She has recently concluded the collaborative international project Sub-National Context and Radical Right Support in Europe (supported by an ORA grant) and is currently co-directing the research project Generational Differences in Determinants of Party Choice (supported by an NWO grant). Her co-edited volume Radical Right-Wing Populist Parties in Western Europe: Into the Mainstream?, which appeared with Routledge in 2016, analyses the extent to which radical right-wing populist parties have become part of mainstream politics, as well as the factors and conditions which facilitate this trend.
Co-Sponsored by the Global Populisms Project.
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Online via Zoom
In this live webinar, Torin Jones (Stanford) will speak with Camilla Hawthorne (UC Santa Cruz) and Angelica Pesarini (NYU Florence) about the Black Lives Matter movement in Italy, focusing on ethnographic methods and ongoing questions related to the histories of Italian colonialism, immigration, and the Black Mediterranean.
ADMISSION: FREE AND OPEN TO THE PUBLIC. RSVP: https://stanforduniversity.qualtrics.com/jfe/form/SV_9FYoKW3Iu8RGq4l
Co-sponsored by The Center for Global Ethnography, the Department of Anthropology, and The Europe Center.
Zoom Webinar