Edward Tower | Scholars@Duke

Edward Tower
Professor Emeritus of Economics

Professor Tower specializes in finance, computable general equilibrium modeling, macroeconomics, development economics, microeconomics, and managerial economics. He conducts a majority of his research within the study of trade and development, exploring a variety of variables from tariffs, quotas, and time zone arbitrage, to equities, mutual funds, and index mutual funds. Since he began publishing his work in 1965, he has contributed over 130 articles to leading academic journals and has had several books, chapters, and papers appear in print. Some of his more recent writings include, “School Choice: Money, Race, and Congressional Voting on Vouchers,” completed in collaboration with O. Gokcekus and J. Phillips; “Rational Pessimism: Predicting Equity Returns by Tobin’s q and Price/Earnings Ratio” with M. Harney; and “Predicting Equity Returns for 37 Countries: Tweaking the Gordon Formula” with K. Reinker. Much of his work pertaining to U.S. trade policy has been used to determine congressional voting on protectionist issues based on campaign contributions. His work on financial issues has also played an important role in determining the value of the U.S. stock market. His latest studies involved an investigation of congressional voting on importation of ethical drugs and predicting returns on both foreign and U.S. equity.

Current Appointments & Affiliations

Professor Emeritus of Economics, Economics, Trinity College of Arts & Sciences 2021

Contact Information

228C Social Sciences Bldg, Box 90097, Durham, NC 27708
Box 90097, Durham, NC 27708-0097
tower@econ.duke.edu (919) 660-1800

Background
Education, Training, & Certifications
- Ph.D., Harvard University 1971
- M.A., Harvard University 1967
- B.A., Harvard University 1964
Previous Appointments & Affiliations
- Professor of Economics, Economics, Trinity College of Arts & Sciences 1977 - 2021
- Associate Professor with Tenure, Economics, Trinity College of Arts & Sciences 1974 - 1977
Recognition
In the News
- JUN 9, 2014 MarketWatch
  
  A stock market forecast with a 14-year winning streak
Expertise
Global Scholarship
- Expertise
  - Croatia (Country)
  - Malawi (Country)
- Teaching
  - Thailand (Country)
Publications & Artistic Works
Selected Publications
- Books
  - Sweeney, R. J., E. Tower, and T. D. Willett. Judging economic policy: Selected writings of Gottfried Haberler, 2021. https://doi.org/10.4324/9780429046858.
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  - Gilbert, J., and E. Tower. Introduction to numerical simulation for trade theory and policy, 2012. https://doi.org/10.1142/8414.
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- Academic Articles
  - McCarthy, J. E., and E. Tower. “Static Indexing Beats Tactical Asset Allocation.” Journal of Index Investing 11, no. 4 (March 1, 2021): 41–52. https://doi.org/10.3905/JII.2021.1.100.
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  - Li, C., E. Tower, and R. Zhang. “Alternative Measures of Mutual Fund Performance: Ranking DFA, Fidelity, and Vanguard” 9 (January 1, 2020): 417–76. https://doi.org/10.1142/9789811222634_0017.
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  - Li, Chong, Edward Tower, and Rhona Zhang. “Evaluating the Changed Collection of Equity Mutual Funds for Vanguard Participants in the Duke University Retirement Plan,” May 1, 2019.
  - Li, Chong, Edward Tower, and Rhona Zhang. “Vanguard versus Fidelity: Multidimensional Comparison of the Index Funds and ETFs of the Two Largest Mutual Fund Families.” Economic Research Initiatives at Duke (Erid) Working Paper, no. 283 (March 26, 2019).
  - Wang, Y., and E. Tower. “Do Chinese Investors Get What They Don't Pay For? Expense Ratios, Loads, and the Returns to China's Open-End Mutual Funds.” Economic Research Initiatives at Duke (Erid), no. 231 (October 27, 2016).
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  - Tower, Edward. “Transfers and Taxes: How Balancing the Budget with Distortionary Taxation Further Blesses the Recipient of a Transfer and Burdens the Donor,” August 18, 2016.
  - TOWER, E. D. W. A. R. D., and Y. I. F. A. N. V. I. C. T. O. R. YE. “How Taxes and Real Wage Inflexibility Interact to Make Trade Deficits Addictive: The Tertiary and Quaternary Burdens and Benefits of a Transfer.” The Singapore Economic Review 61, no. 02 (June 2016): 1640026–1640026. https://doi.org/10.1142/S0217590816400269.
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  - TOWER, E. D. W. A. R. D., and YIFAN V. I. C. T. O. R. YE. “HOW TAXES AND REAL WAGE INFLEXIBILITY INTERACT TO MAKE TRADE DEFICITS ADDICTIVE: THE TERTIARY AND QUATERNARY BURDENS OF A TRANSFER.” The Singapore Economic Review 61, no. 02 (June 2016): 1–15.
  - Tower, E. “Should the Equities in the North Carolina State Employees’ Pension Fund Be Indexed or Actively Managed?” Economic Research Initiatives at Duke (Erid), no. 210 (May 19, 2016).
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  - Lim, H., and E. Tower. “Fundamental versus traditional indexation for international mutual funds: Evaluating dfa, wisdomtree, and rafi powershares,” January 1, 2016, 331–53. https://doi.org/10.1007/978-3-319-33976-4_15.
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  - Paskalev, Z., and H. Yildirim. “A Theory of Outsourced Fundraising: Why Dollars Turn into 'Pennies for Charity'.” Economic Research Initiatives at Duke (Erid) Working Paper, no. 189 (December 6, 2014).
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  - Tower, E., D. Barry, and E. Stansky. “GMO's Predictions: A Useful Guide for Investors?,” June 5, 2014.
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  - Tower, Edward. “CAPE: Using Its Variants to Predict the Returns from Investing in the S&P 500 Index.” Economic Research Initiatives at Duke (Erid) Working Paper, no. 262 (September 10, 2013).
  - Lim, Heehyun, and Edward Tower. “Enhanced versus Traditional Indexation for International Mutual Funds: Evaluating DFA, WisdomTree and RAFI Powershares,” June 26, 2013.
  - Tower, Edward, and Chao Yang. “Vanguard versus the Enhanced Indexers, DFA, RAFI, and WisdomTree: Is Traditional Indexation Passé?,” November 20, 2012.
  - Tower, Edward. “Tobin’s Q Versus Cape versus Caper: Predicting Stock Market Returns Using Fundamentals and Momentum,” December 3, 2011.
  - Tower, E. “Classic and Enhanced Index Funds: Performance and Issues,” November 29, 2011, 237–64. https://doi.org/10.1002/9781118266397.ch13.
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  - Tower, E. “Performance of Actively Managed versus Index Funds: The Vanguard Case,” November 29, 2011, 211–36. https://doi.org/10.1002/9781118266397.ch12.
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  - Gilbert, John, Tanigawa Takahiko, Krit Linananda, Edward Tower, and Alongkorn Tuncharoenlarp. “The deadweight cost of war: An illustrative CGE.” Economics of Peace and Security Journal 6, no. 2 (July 2011): 34–40.
  - Tower, Edward. “GMO versus Vanguard: Assessing the Performance of Comparable Funds,” October 1, 2010.
  - Tower, Edward, and Zhang Yichong. “Vanguard Versus DFA & Wisdomtree, and the Value Added by Dan Wiener’s Independent Adviser for Vanguard Investors,” November 6, 2009.
  - Tower, E., and W. Zheng. “Ranking mutual fund families: Minimum expenses and maximum loads as markers for moral turpitude.” International Review of Economics 55, no. 4 (October 6, 2008): 315–50. https://doi.org/10.1007/s12232-008-0052-7.
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  - Tower, Edward. “The encyclopedia of public choice.” Public Choice 127, no. 3–4 (June 1, 2006): 499–502.
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  - Gokcekus, O., M. Adams, H. Grabowski, and E. Tower. “How did the 2003 prescription drug re-importation bill pass the house?” Economics and Politics 18, no. 1 (March 1, 2006): 27–45. https://doi.org/10.1111/j.1468-0343.2006.00161.x.
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  - Reinker, K. S., and E. Tower. “Are vanguard's managers good stock-pickers or style-pickers?” Journal of Portfolio Management 31, no. 3 (January 1, 2005). https://doi.org/10.3905/jpm.2005.500367.
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  - Phillips, G. A., and E. Tower. “Organized labor's campaign contributions after the NAFTA vote: Rhetoric or retribution?,” December 1, 2004, 169–86. https://doi.org/10.4337/9781845423537.000022.
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  - Gokcekus, O., J. J. Phillips, and E. Tower. “School choice: Money, race, and congressional voting on vouchers.” Public Choice 119, no. 1–2 (January 1, 2004): 241–54. https://doi.org/10.1023/b:puch.0000024170.63342.3b.
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  - Gokcekus, Omer, Joshua J. Phillips, and E. Tower. “"School Choice: Money, Race and Congressional Voting on Vouchers".” Public Choice, no. 1 (2004): 20.
  - Reinker, K. S., and E. Tower. “Index fundamentalism revisited.” Journal of Portfolio Management 30, no. 4 (January 1, 2004). https://doi.org/10.3905/jpm.2004.37.
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  - Harney, Matthew, and Edward Tower. “"Rational Pessimism: Predicting Equity Returns by Tobin's q and Price/Earnings Ratios".” The Journal of Investing 12, no. 2 (October 2003): 58–69.
  - Reinker, Kenneth S., and E. Tower. “"Predicting Equity Returns for 37 Countries: Tweeking the Gordon Formula".” Journal of Investing 13, no. 2 (July 2003): 21pp.
  - Reinker, Kenneth S., and E. Tower. “"Index Fundamentalism Revisited".” Journal of Portfolio Management, July 2003, 31.
  - Gokcekus, Omer, and E. Tower. “"An Efficiency Enhancing Minimum Wage".” Journal of Policy Reform 7, no. 2 (March 2003): 22pp.
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  - Cvijanovic, Vladamir, Mia Mikic, and E. Tower. “"Evaluating Croatian Equities".” Zagreb Journal of Economics 7, no. 10 (2003): 73–88.
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  - Kaempfer, William H., E. Tower, and Thomas D. Willett. “"The Employment Maximizing Import Quota Under Domestic Monopoly".” Journal of International Logistics and Trade 1, no. 1 (2003): 22.
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  - Gibbs, Ryan, Omer Gokcekus, and E. Tower. “"Is Talk Cheap? Buying Congressional Testimony with Campaign Contributions".” Journal of Policy Reform 5, no. 3 (December 2002): 127–32.
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  - Gilbert, J., and E. Tower. “Protectionism, labor mobility, and immiserizing growth in developing economics.” Economics Letters 75, no. 1 (March 1, 2002): 135–40. https://doi.org/10.1016/S0165-1765(01)00586-9.
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  - Conway, Patrick, Wilfrid Csaplar, and Eward Tower. “"How to Encourage Exports Without a Budgetary Cost: Comment on Wang and Tsai".” Revista Internzaionale De Science Economiche E Commercialli (International Review of Economics and Business" 47, no. 4 (December 2000): 701–4.
  - Tower, E., and J. Gilbert. “A golden jubilee note on Graaff's optimum tariff structures.” History of Political Economy 32, no. 3 (January 1, 2000): 421–36. https://doi.org/10.1215/00182702-32-3-421.
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  - Gilbert, John, and Edward Tower. “Import Quotas, Foreign Capital and Income Distribution: Comment.” The American Economist, October 1998, 90–93.
  - Grimes, Mark, and Edward Tower. “The Optimum Minimum Wage When Labor Services are Taxed.” International Review of Economics and Business, June 1998, 1–9.
  - Gokcekus, O., and E. Tower. “Does Trade liberalization benefit young and old alike?” Review of International Economics 6, no. 1 (January 1, 1998): 50–58. https://doi.org/10.1111/1467-9396.00086.
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  - Gokcekus, Omer, and Edward Tower. “Can a Periodic Voluntary Export Restraint Raise Importing Country Welfare?” Journal of Economic Integration, December 1997, 485–504.
  - Park, Donyong, and Edward Tower. “The Commodity Creating Tariff and Other Paradoxes.” International Review of Economics and Business, December 1997, 831–35.
  - Gokcekus, Omer, and Edward Tower. “The Effects of Import Quotas on National Welfare: Comment.” Southern Economic Journal 64, no. 2 (October 1997): 584–584. https://doi.org/10.2307/1060870.
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  - Baker, A., F. Gross, and E. Tower. “Super 301 trade sanctions: An empirical investigation of the wood products case.” North American Journal of Economics and Finance 8, no. 1 (January 1, 1997): 39–55. https://doi.org/10.1016/s1062-9408(97)90018-8.
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  - Tower, E. “Yucel on Reducing U.S. Vulnerability to Oil Supply Shocks: Comment.” Southern Economic Journal, April 1996, 1093–95.
  - Pinsky, L., and E. Tower. “Temporary duty suspension in the United States.” North American Journal of Economics and Finance 6, no. 1 (January 1, 1995): 17–36. https://doi.org/10.1016/1062-9408(95)90003-9.
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  - Tower, Edward. “Separability: The One Principal and SerW>us Defect of Bickerdike's and Edgeworth's Elasticity Approach to Balance-of-Payments Adjustment Problems?” History of Political Economy 25, no. 3 (September 1, 1993): 493–97. https://doi.org/10.1215/00182702-25-3-493.
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  - Tower, E. “Do the U.S. and China Discriminate against One Another's Goods?” Asian Profile, April 1993, 101–12.
  - Simmons, P., and E. Tower. “Market Power and Buffer Stocks: Erratum.” The Economic Record, March 1993, 107.
  - Tower, E. “On Domestic Resource Cost.” Journal of International Economic Integration, March 1992, 20–44.
  - Canto, V., W. H. Kaempfer, and E. Tower. “On the Validity of the Lerner Neutrality and Symmetry Theorems in The Presence of Non-Traded Goods.” Contemporary Studies in Economic and Financial Analysis 62, no. 87 (1992): 125?28.
  - GANG, I. N., and E. TOWER. “Allocating Jobs under a Minimum Wage: Queues vs. Lotteries.” Economic Record 66, no. 3 (January 1, 1990): 186–94. https://doi.org/10.1111/j.1475-4932.1990.tb01721.x.
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  - Loo, T., and E. Tower. “Agricultural liberalization, welfare, revenue and nutrition in developing countries.” Agricultural Trade Liberalization, January 1, 1990, 307–41.
  - Weber, C., and E. Tower. “Empirical models of the effects of United States protection: A survey of recent literature.” North American Review of Economics and Finance 1, no. 1 (January 1, 1990): 163–79. https://doi.org/10.1016/1042-752X(90)90012-5.
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  - Copeland, B., E. Tower, and M. Webb. “Quota Wars and Tariff Wars.” Oxford Economic Papers, October 1989, 774–88.
  - Copeland, B., E. Tower, and M. Webb. “On negotiated quotas, tariffs, and transfers.” Oxford Economic Papers 41, no. 1 (January 1, 1989): 774–88. https://doi.org/10.1093/oxfordjournals.oep.a041927.
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  - Tower, E. “Excise Tax Evasion: Comment on Panagariya and Narayana.” Public Finance, no. 3 (1989): 506–9.
  - Kaempfer, W. H., E. Tower, and T. D. Willett. “Performance-Contingent Protection.” Economics and Politics, 1989, 261–75.
  - Tower, by E., and R. E. Christiansen. “A Model of the Effect of a Fertilizer Subsidy on Income Distribution and Efficiency in Malawi.” Eastern Africa Economic Review, December 1988.
  - Tower, E. “Explaining the Yeh Paradox: A Comment.” Eastern Economic Journal, April 1988, 189–92.
  - Tower, E. “On the Dispersion of Optimum Tariffs on Goods with Fixed World Prices.” International Review of Economics and Business, April 1988, 407–12.
  - Csaplar, W. W., and E. Tower. “Trade and industrial policy under oligopoly: Comment.” Quarterly Journal of Economics 103, no. 3 (January 1, 1988): 599–602. https://doi.org/10.2307/1885547.
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  - Gang, I. N., and E. Tower. “The Stahl-Alexeev paradox: A note.” Journal of Economic Theory 44, no. 1 (January 1, 1988): 189–91. https://doi.org/10.1016/0022-0531(88)90103-2.
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  - Tower, E., and G. G. Pursell. “On Shadow Pricing Foreign Exchange, Non-Traded Goods and Labor in a Simple General Equilibrium Model.” Oxford Economic Papers, June 1987, 318–32.
  - Tower, Edward, Garry G. Pursell, and Kiyoun Han. “Shadow Pricing in a Specific-Factors Model: Comment.” The Canadian Journal of Economics 20, no. 2 (May 1987): 399–399. https://doi.org/10.2307/135369.
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  - Gan, K. P., and E. Tower. “A general equilibrium cost- benefit approach to policy reform and project evaluation in Malaysia.” Singapore Economic Review 32, no. 1 (January 1, 1987): 46–61.
  - Lucas, R. E. B., G. Pursell, and E. Tower. “Resolution Ex ante versus ex post DRC's and the possibility of negative shadow prices.” Journal of Development Economics 26, no. 1 (January 1, 1987): 173–74. https://doi.org/10.1016/0304-3878(87)90059-9.
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  - Pursell, G., and E. Tower. “DRC criteria. Comment on Lucas.” Journal of Development Economics 26, no. 1 (January 1, 1987): 163–67. https://doi.org/10.1016/0304-3878(87)90057-5.
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  - Tosini, S. C., and E. Tower. “The textile bill of 1985: The determinants of congressional voting patterns.” Public Choice 54, no. 1 (January 1, 1987): 19–25. https://doi.org/10.1007/BF00123802.
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  - TOWER, E. “INTERNATIONAL-TRADE REGIMES AND PRIVATE PROPERTY-RIGHTS - COMMENT.” Contemporary Policy Issues 5, no. 2 (1987): 13–15. https://doi.org/10.1111/j.1465-7287.1987.tb00252.x.
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  - Gang, I. N., and E. Tower. “Differential Cash-in-Advance Constraints: A Good Reason for Protection in LDCS?” Eastern Africa Economic Review, December 1986, 193–95.
  - Hartigan, J. C., and E. Tower. “The leontief question: A Cobb-Douglas approach to simulating the U.S. income distribution in Autarky.” Weltwirtschaftliches Archiv 122, no. 4 (December 1, 1986): 677–89. https://doi.org/10.1007/BF02707855.
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  - Feldman, D. H., and E. Tower. “Optimal destabilizing speculation or why the optimum tariff may oscillate.” De Economist 134, no. 3 (September 1, 1986): 368–77. https://doi.org/10.1007/BF01856697.
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  - Feldman, David H., and Edward Tower. “The Welfare Economics of an Unstable Real Exchange Rate.” Southern Economic Journal 52, no. 3 (January 1986): 607–607. https://doi.org/10.2307/1059260.
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  - TOWER, E. D. W. A. R. D. “INDUSTRIAL POLICY IN LESS DEVELOPED COUNTRIES.” Contemporary Economic Policy 4, no. 1 (January 1986): 23–35. https://doi.org/10.1111/j.1465-7287.1986.tb00830.x.
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  - Daniel, B. C., H. Fried, and E. Tower. “Adjustment Speeds under Tariffs and Quotas in a Monetary Model of Balance of Payments.” Journal of International Economics, May 1985, 373–80.
  - Appleyard, Dennis R., Alfred J. Field, and Edward Tower. “Further Analysis of the Effects of Offshore Assembly Provisions on the US Tariff Structure.” Journal of Economic Studies 12, no. 4 (April 1, 1985): 62–65. https://doi.org/10.1108/eb002608.
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  - Daniel, B. C., H. O. Fried, and E. Tower. “On the dynamic non-equivalence of tariffs and quotas in the monetary model of the balance of payments: Comment.” Journal of International Economics 18, no. 3–4 (January 1, 1985): 373–79. https://doi.org/10.1016/0022-1996(85)90062-5.
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  - Fried, H., and E. Tower. “On Using a Single Tariff to Exploit Market Power on Many Traded Goods.” Economia Internazionale, 1985, 318–22.
  - Feldman, D. H., and E. Tower. “Profitable Destabilizing Speculation as Intertemporal Price Discrimination.” The American Economist, October 1984, 60–63.
  - Tower, E. “On the functional relationship between distortions and welfare.” Atlantic Economic Journal 12, no. 1 (March 1, 1984): 65–66. https://doi.org/10.1007/BF02309995.
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  - Feldman, D. H., and E. Tower. “Welfare gain from a stable exchange rate: Comment.” Atlantic Economic Journal 12, no. 2 (January 1, 1984): 65. https://doi.org/10.1007/BF02306502.
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  - WILLETT, T. D., E. TOWER, and D. B. CHRISTENSON. “INTERNATIONAL TRADE AND PROTECTIONISM: INTRODUCTION THE RELEVANCE OF MODERN ECONOMIC RESEARCH.” Contemporary Economic Policy 2, no. 4 (January 1, 1984): 1–5. https://doi.org/10.1111/j.1465-7287.1984.tb00762.x.
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  - TOWER, E. “ON A QUICK AND DIRTY APPROACH TO ESTIMATING 2ND BEST OPTIMUM TARIFFS.” Rivista Internazionale Di Scienze Economiche E Commerciali 31, no. 3 (1984): 212–19.
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  - Tower, E. “Some Empirical Results on Trade and National Prosperity: Comment on Kindleberger.” Cato Journal, December 1983, 639–44.
  - Tower, E. “Making the Best Use of Trade Restrictions in the Presence of Foreign Market Power.” Journal of International Economics, November 1983, 456–73.
  - Eaton, J., G. Grossman, W. H. Kaempfer, and E. Tower. “On the Lerner Symmetry Theorem under Monopoly: Comment [on Ray].” Quarterly Journal of Economics, August 1983, 529–37.
  - Tower, E. “On the best use of trade controls in the presence of foreign market power.” Journal of International Economics 15, no. 3–4 (January 1, 1983): 349–65. https://doi.org/10.1016/S0022-1996(83)80010-5.
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  - Hartigan, James C., and Edward Tower. “Trade Policy and the American Income Distribution.” The Review of Economics and Statistics 64, no. 2 (May 1982): 261–261. https://doi.org/10.2307/1924305.
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  - Kaempfer, W. H., and E. Tower. “The balance of payments approach to trade tax symmetry theorems.” Weltwirtschaftliches Archiv 118, no. 1 (March 1, 1982): 148–65. https://doi.org/10.1007/BF02706083.
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  - Tower, E. “Buffer stocks are better stabilizers than quotas.” Journal of International Economics 11, no. 1 (January 1, 1981): 113–15. https://doi.org/10.1016/0022-1996(81)90047-7.
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  - Allen, D. L., L. Lewis, and E. Tower. “"U.S. Concessions in the Kennedy Round and Short Run Labor Adjustment Costs: Still Further Evidence.” The Quarterly Review of Economics and Business, October 1980, 107–10.
  - Hillman, Arye L., Edward Tower, and Gideon Fishelson. “On Water in the Quota.” The Canadian Journal of Economics 13, no. 2 (May 1980): 310–310. https://doi.org/10.2307/134690.
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  - Kennedy, P., and E. Tower. “Dynamic Adjustment in an IS-LM Framework.” Eastern Economic Journal, January 1980, 53–58.
  - Kennedy, Peter, and Edward Tower. “Excess Demand in the IS-LM Model.” Eastern Economic Journal 6, no. 1 (January 1980): 53–56.
  - Tower, E. “The Choice between a Tariff and a Quota: Comment [on Vastrup].” Weltwirtschaftliches Archiv heft 4 (1980): 580–81.
  - Tower, E. “The geometry of community indifference curves.” Weltwirtschaftliches Archiv 115, no. 4 (December 1, 1979): 680–700. https://doi.org/10.1007/BF02696739.
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  - Dutton, J., and E. Tower. “Effective Protection and Market Distortions: Comment.” Review of Economic Studies, July 1979, 561–63.
  - Pedersson, G., and E. Tower. “On the long and short run relationship between the forward rate and the interest parity.” Journal of Macroeconomics 1, no. 1 (January 1, 1979): 65–77. https://doi.org/10.1016/0164-0704(79)90021-1.
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  - Tower, E. “Economic imperialism and resource nationalism. Comment on Kemp and Ohyama.” Journal of International Economics 9, no. 3 (January 1, 1979): 423–27. https://doi.org/10.1016/0022-1996(79)90036-9.
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  - Tower, E. “Profit control in New Zealand*.” New Zealand Economic Papers 13, no. 1 (January 1, 1979): 1–23. https://doi.org/10.1080/00779957909544002.
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  - Tower, E. “Notes on the Dynamics of Optimum Tariff Policy.” Revista Internazionale Di Scienze Economiche E Commerciali, January 1979, 84–89.
  - Tower, Edward. “The Optimum Incentive-Schedule Tariff.” The Canadian Journal of Economics 11, no. 4 (November 1978): 726–726. https://doi.org/10.2307/134378.
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  - Tower, Edward, Alain Sheer, and Hessel J. Baas. “Alternative Optimum Tariff Strategies as Devices for Transferring Real Income.” Southern Economic Journal 45, no. 1 (July 1978): 18–18. https://doi.org/10.2307/1057613.
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  - TOWER, E. “EFFECTIVE PROTECTION OF CANADIAN EXPORTING INDUSTRY - FURTHER COMMENT.” Quarterly Review of Economics and Business 18, no. 4 (1978): 102–5.
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  - Tower, E. “Inelastic offer curves, stability and the difference between tariffs and quotas.” Atlantic Economic Journal 5, no. 3 (December 1, 1977): 64–67. https://doi.org/10.1007/BF02299901.
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  - Tower, Edward. “Dynamic Stability and the Choice Between Fixed and Flexible Exchange Rates.” The Economic Journal 87, no. 345 (March 1977): 81–81. https://doi.org/10.2307/2231834.
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  - Sweeney, R. J., E. Tower, and T. D. Willett. “The ranking of alternative tariff and quota policies in the presence of domestic monopoly.” Journal of International Economics 7, no. 4 (January 1, 1977): 349–62. https://doi.org/10.1016/0022-1996(77)90052-6.
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  - Tower, E. “Ranking the optimum tariff and the maximum revenue tariff.” Journal of International Economics 7, no. 1 (January 1, 1977): 73–79. https://doi.org/10.1016/0022-1996(77)90006-X.
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  - Kemp, M. C., and E. Tower. “On the Shape of the Trade Indifference Curve: Rejoinder to Batra.” American Economic Review, September 1976, 709.
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  - Tower, E. “The Estimation of the Cost of Adjustment to External Disequilibria: Comment.” Review of Economics and Statistics, August 1976, 382–83.
  - Tower, Edward. “The Optimum Tariff Retaliation and Autarky.” Eastern Economic Journal 3, no. 2 (April 1976): 72–75.
  - Tower, E. “Money demand and the terms of trade.” Weltwirtschaftliches Archiv 111, no. 4 (December 1, 1975): 623–33. https://doi.org/10.1007/BF02696482.
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  - Tower, Edward. “The Optimum Quota and Retaliation.” The Review of Economic Studies 42, no. 4 (October 1975): 623–623. https://doi.org/10.2307/2296799.
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  - Tower, E. “On the functional relationship between tariffs and welfare.” Journal of International Economics 5, no. 2 (January 1, 1975): 189–99. https://doi.org/10.1016/0022-1996(75)90004-5.
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  - KEMP, M. C., and E. TOWER. “NONTRADED GOODS, FACTOR MARKET DISTORTIONS, AND GAINS FROM TRADE - COMMENT.” American Economic Review 65, no. 1 (1975): 249–50.
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  - TOWER, E. “MAXIMUM REVENUE TARIFF.” Malayan Economic Review 20, no. 2 (1975): 33–37.
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  - Tower, E. “Exchange-Rate Change and Foreign Portfolio Investment.” Economia Internazionale, August 1974, 564–71.
  - Tower, E., and M. M. Courtney. “Exchange Rate Flexibility and Macroeconomic Stability.” Review of Economics and Statistics, May 1974, 215–24.
  - Ross, R., and E. Tower. “More on the neutrality of forward market intervention.” Weltwirtschaftliches Archiv 109, no. 4 (December 1, 1973): 701–3. https://doi.org/10.1007/BF02700385.
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  - Tower, E. “Commercial Policy under Fixed and Flexible Exchange Rates.” Quarterly Journal of Economics, August 1973, 436–54.
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  - Dean, J. W., and E. Tower. “More on Internal and External Balance in an Almost Classical World.” Western Economic Journal, June 1973, 232–37.
  - DEAN, J. W., and E. TOWER. “REJOINDER.” Economic Inquiry 11, no. 2 (January 1, 1973): 240–240. https://doi.org/10.1111/j.1465-7295.1973.tb02009.x.
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  - Tower, E. “Monetary and Fiscal Policy under Fixed and Flexible Exchange Rates in the Inter-Run.” Journal of Money, Credit and Banking 877–96 (November 1972).
  - Tower, E. “The Short-Run Effects of Monetary and Fiscal Policy under Fixed and Flexible Exchange Rates.” Economic Record, September 1972, 411–23.
  - Tower, E. “Monetary and Fiscal Policy in a World of Capital Mobility: A Respecification.” Review of Economic Studies, July 1972, 251–62.
  - Tower, E., and T. D. Willett. “More on Official Versus Market Financing of Payments Deficits and the Optimal Pricing of International Reserves.” Kyklos fasc. 3 (1972): 537–52.
  - Tower, E. “More on the Welfare Cost of Inflationary Finance.” Journal of Money, Credit and Banking, November 1971, 850–60.
  - Willett, T. O., and E. Tower. “THE WELFARE ECONOMICS OF INTERNATIONAL ADJUSTMENT.” The Journal of Finance 26, no. 2 (January 1, 1971): 287–302. https://doi.org/10.1111/j.1540-6261.1971.tb00897.x.
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  - Willett, T. D., and E. Tower. “Currency areas and exchange-rate flexibility.” Weltwirtschaftliches Archiv 105, no. 1 (September 1, 1970): 48–65. https://doi.org/10.1007/BF02708673.
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  - Stein, J. L., and E. Tower. “The Short-Run Stability of the Foreign Exchange Market.” Review of Economics and Statistics, May 1967, 173–85.
    Open Access Copy
  - Leontief, W. W., A. Morgan, K. Polenske, D. Simpson, and E. Tower. “The Economic Impact - Industrial and Regional - of an Arms Cut.” Review of Economics and Statistics, August 1965, 217–41.
    Open Access Copy
  - Cassidy, A., E. Tower, and X. Wang. “Manufacturing Fetishism: The Neo-Mercantilist Preoccupation with Protecting Manufacturing.” Economic Research Initiatives at Duke (Erid), no. 227 (n.d.).
  - Gokcekus, Omer, and Edward Tower. “Should The Capital Account Be Liberalized In A Minimum Real Wage Economy?,” n.d.
- Book Sections
  - Li, C., E. Tower, and R. Zhang. “Alternative measures of mutual fund performance: Ranking DFA, fidelity, and vanguard.” In Handbook Of Applied Investment Research, 417–76, 2020. https://doi.org/10.1142/9789811222634_0017.
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  - Willett, T. D., and E. Tower. “The concept of optimum currency areas and the choice between fixed and flexible exchange rates.” In Approaches to Greater Flexibility of Exchange Rates, 407–15, 2015.
  - Phillips, G. A., and E. Tower. “Organized labor’s campaign contributions after the NAFTA vote: Rhetoric or retribution?” In Empirical Methods in International Trade: Essays in Honor of Mordechai Kreinin, 169–86, 2004. https://doi.org/10.4337/9781845423537.00022.
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- Scholarly Editions
  - Cassidy, A. W., E. Tower, and X. Wang. “Manufacturing fetishism: The neo-mercantilist preoccupation with protecting manufacturing,” January 1, 2015. https://doi.org/10.1142/9789814520164_0006.
    Full Text Open Access Copy
  - Tower, Edward. “Strategic Asset Allocation in Practice: Using Vanguard Funds to Clone GMO’s Benchmark‐Free Allocation Fund,” October 1, 2010.
  - Tower, Edward. “Are GMO’s Predictions Prescient? Using Them to Predict Vanguard’s Mutual Fund Returns, October 2010,” October 1, 2010.
- Software
  - Gilbert, John, and Edward Tower. “Higher Dimensional Production Problem from Chapter 9 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Large Country Model with Optimal Trade Taxes from Chapter 19 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Large Country Model with Trade Taxes from Chapter 19 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Model with Quotas from Chapter 19 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Model with Tariffs from Chapter 19 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Illustration of the Krugman's Monopolistic Competition Model for Trading Economies from Chapter 18 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Illustration of the Krugman's Monopolistic Competition Model for a Closed Economy from Chapter 18 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Illustration of the Reciprocal Dumping Model from Chapter 17 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Two Country Illustration of the HOV Theorem from Chapter 16 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Two Country Version of the HOS Model with Transfers from Chapter 15 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Two Country Version of the HOS Model from Chapter 15 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Large Country Version of the HOS Model from Chapter 14 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the HOS Model with Non-Traded Goods from Chapter 13 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the Specific Factors Model from Chapter 12 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the HOS Model from Chapter 12 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Autarky Version of the HOS Model with More Goods Than Factors from Chapter 11 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Autarky Version of the Specific Factors Model from Chapter 11 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Autarky Version of the HOS Model from Chapter 11 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Transition Problem from Chapter 8 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Dual Long-Run Production Problem from Chapter 7 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Short-Run Production Problem from Chapter 6 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Long-Run Production Problem from Chapter 5 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Cost Minimization Program from Chapter 4 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Utility Maximization Program from Chapter 3 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Two Country Version of the HOS Model with Trade Taxes from Chapter 19 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Higher Dimensional Production Problem With More Goods Than Factors from Chapter 9 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Model of Production with Intermediate Inputs Used in Fixed Proportions from Chapter 10 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Model of Production with Intermediate Inputs Used in Variable Proportions from Chapter 10 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the Specific Factors Model with Unemployment (alternative) from Chapter 21 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the HOS Model with Unemployment from Chapter 21 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the Long Run Harris-Todaro Model from Chapter 21 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the HOS Model with Imperfect Factor Mobility from Chapter 21 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Model of the Exchange Economy from Chapter 22 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the HOS Model with Multiple Households from Chapter 22 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Model with Domestic Taxes/Subsidies and a Simple Government from Chapter 22 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Model with Domestic Taxes/Subsidies, a Simple Government and Investment from Chapter 22 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the HOS Model with Armington Preferences from Chapter 23 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the HOS Model with Joint Production from Chapter 24 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “'Standard' CGE Model from Chapter 27 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Two Country Version of the HOS Model with Optimal Trade Taxes from Chapter 19 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country with Domestic Taxes/Subsidies from Chapter 20 of Gilbert and Tower (2013),” November 9, 2012.
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  - Gilbert, John, and Edward Tower. “Small Country Version of the Specific Factors Model with Unemployment from Chapter 21 of Gilbert and Tower (2013),” November 9, 2012.
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