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作者：Choi, Yo Chul; Hummels, David; Xiang, Chong
作者单位：Purdue University System; Purdue University; Bank of Korea
摘要：We examine a generalized version of Flam and Helpman [Flam, H., Helpman, E., 1987. Vertical Product Differentiation and North-South Trade. American Economic Review, 77, 810-822.] in which consumption pi ices for quality differentiated goods are rising in household income. We provide propositions for aggregating this relationship across heterogenous households to map cross-country differences in income distributions to cross-country differences in import price distributions. The theoretical pre...
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作者：Krishna, Kala
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
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作者：Ludema, Rodney D.; Mayda, Anna Maria
作者单位：Georgetown University; Georgetown University
摘要：The Most-Favored Nation (MFN) clause has long been suspected of creating a free rider problem in multilateral trade negotiations. To address this issue, we model multilateral negotiations as a mechanism design problem with voluntary participation. We show that an optimal mechanism induces only the largest exporters to participate in negotiations over any product, thus providing a rationalization for the Principal supplier rule. We also show that, through this channel, equilibrium tariffs vary ...
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作者：Konrad, Kai A.; Kovenock, Dan
作者单位：Max Planck Society; University of Iowa
摘要：Countries compete for new FDI investment, whereas stocks of FDI generate agglomeration benefits and are potentially Subject to extortionary taxation. We study the interaction between these aspects in a simple vintage capital framework with discrete time and an infinite horizon, focussing on Markov perfect equilibrium. We show that the equilibrium taxation destabilizes agglomeration advantages. The agglomeration advantage is valuable, but is exploited in the short run. The tax revenue in the eq...
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作者：Francois, Joseph; Woerz, Julia
作者单位：Johannes Kepler University Linz; Centre for Economic Policy Research - UK
摘要：We develop a panel-based inequality constrained least-squares (ICLS) framework for estimating the export tax equivalent (ETE) of quotas where the ETEs vary over time. Working with a panel of bilateral data on textile and clothing trade,underlying bilateral tariffs, and the country-pair coverage of quotas under the WTO's Agreement on Textiles and Clothing (ATC), we use this framework to examine the evolution of market access conditions in the textile and clothing sectors. Our estimating framewo...
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作者：Kilian, Lutz; Rebucci, Alessandro; Spatafora, Nikola
作者单位：University of Michigan System; University of Michigan; Inter-American Development Bank; International Monetary Fund
摘要：We provide estimates of the effects of demand and supply shocks in the global crude oil market on several measures of oil exporters' and oil importers' external balances, including the oil trade balance, the non-oil trade balance, the current account, capital gains, and changes in net foreign assets (NFA). First, we show that the effect of oil demand and supply shocks on the merchandise trade balance and the current account, which depending on the source of the shock can be large, depends crit...
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作者：Lyons, Richard K.; Moore, Michael J.
作者单位：Queens University Belfast; University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：Models of currency competition focus on the 5% of trading attributable to balance-of-payments flows. We introduce an information approach that focuses on the other 95%. Important departures from traditional models arise when transactions convey information. First, prices reveal different information depending on whether trades are direct or though vehicle currencies. Second, missing markets arise due to insufficiently symmetric information, rather than insufficient transactions scale. Third, t...
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作者：Asiedu, Elizabeth; Jin, Yi; Nandwa, Boaz
作者单位：Monash University; University of Kansas; Yale University
摘要：We construct a model of FDI, risk and aid, where a country loses access to FDI and aid if the country expropriates FDI. We show that: (i) the threat of expropriation leads to under-investment; (ii) the optimal level of FDI decreases as the risk of expropriation rises; and (iii) aid mitigates the adverse effect of expropriation risk on FDI. The empirical analysis employs data for 35 low-income countries and 28 countries in Sub-Saharan Africa, over the period 1983-2004. We find that risk has a n...
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作者：Tang, Man-Keung; Wei, Shang-Jin
作者单位：Columbia University; National Bureau of Economic Research
摘要：This paper studies the value of external commitment to policy reforms in the case of WTO/GATT accessions. The accessions often entail reforms that go beyond narrowly defined trade liberalization, and have to overcome fierce resistance in the acceding countries, as reflected in protracted negotiations. We study the growth and investment consequences of WTO/GATT accessions, with attention to a possible selection bias. We find that the accessions tend to raise income, but only for those countries...
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作者：Desdoigts, Alain; Jaramillo, Fernando
作者单位：heSam Universite; Universite Pantheon-Sorbonne; Universidad del Rosario
摘要：In this paper, we investigate international demand spillovers brought about by a global middle class and their impact on trade patterns and industrialization. We propose a multi-industry and two-country trade model featuring demand complementarities propagating increasing returns across industries and national boundaries. We show how the international extent of demand spillovers depends upon asymmetries in domestic income distribution, labor efficiency, and labor force size; that is, on the gl...
