-
作者：Holmes, TJ; Stevens, JJ
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Federal Reserve System - USA
摘要：Does home market size matter for the pattern of trade? Krugman started the literature, showing it does matter. Davis overturned his result, arguing that an assumption of convenience-transport costs only for the differentiated goods-conveniently obtained the result. Here we relax another persistent assumption of convenience-two industry types differentiated only by the degree of scale economies-and find that market size reemerges as a relevant force in determining industrial structure. (c) 2004...
-
作者：Bohara, AK; Camargo, AI; Grijalva, T; Gawande, K
作者单位：Texas A&M University System; Texas A&M University College Station; Bush School of Government & Public Service; Utah System of Higher Education; Weber State University; Instituto Tecnologico Autonomo de Mexico; University of New Mexico
摘要：How many dimensions adequately characterize voting on U.S. trade policy? How are these dimensions to be interpreted? This paper seeks those answers in the context of voting on the landmark 1988 Omnibus Trade and Competitiveness Act. The paper takes steps beyond the existing literature. First, using a factor analytic approach, the dimension issue is examined to determine whether subsets of roll call votes on trade policy are correlated. A factor-analytic result allows the use of a limited numbe...
-
作者：Spiegel, MM
作者单位：Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：This paper introduces a model of intervention by an international financial institution (IFI) under asymmetric information. The IFI is unable to distinguish between runs due to fundamentals and those which are the result of pure sunspots. However, it maximizes global welfare by offering a relending package consistent with generating a separating equilibrium, where voluntary creditor participation implies that underlying fundamentals are good. The need for direct IFI lending in the package is s...
-
作者：Bagwell, K; Staiger, RW
作者单位：University of Wisconsin System; University of Wisconsin Madison; Columbia University
摘要：Trade negotiations occur through time and between the governments of many countries. An important issue is thus whether the value of concessions that a government wins in a current negotiation may be eroded in a future bilateral negotiation to which it is not party. We identify rules of negotiation that serve to protect the welfare of governments that are not participating in the bilateral negotiation. Our main finding is that the two central principles of GATT/WTO nondiscrimination (MFN) and ...
-
作者：Hanson, GH
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research
摘要：In this paper, I examine the spatial correlation between wages and consumer purchasing power across U.S. counties to see whether regional demand linkages contribute to spatial agglomeration. First, I estimate a simple market-potential function, in which wages are associated with proximity to consumer markets. Second, I estimate an augmented market-potential function derived from the Krugman model of economic geography, parameter estimates for which reflect the importance of scale economies and...
-
作者：Andersen, TM; Beier, NC
作者单位：Aarhus University
摘要：We analyze the transmission of monetary shocks in a new open-economy macroeconomics model with one-period nominal contracts and imperfect information. Shocks may have transitory and persistent components that can be disentangled only through the accumulation of information over time. As a consequence, the responses to shocks are significantly altered compared with the case of full information. There are persistent effects on international relative prices, and delayed exchange-rate overshooting...
-
作者：Swenson, DL
作者单位：National Bureau of Economic Research; University of California System; University of California Davis
摘要：This paper studies the cross-country pattern of U.S. overseas assembly activities between 1980 and 2000 to examine how outsourcing decisions are affected by changes in country and competitor costs. A number of interesting regularities emerge. When a country's costs rise, the share of U.S. overseas assembly activities in that location decline. Conversely, a country's share grows when competitor country costs increase. While own and competitor country costs affect overseas assembly in all countr...
-
作者：Facchini, G; Willmann, G
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Kiel
摘要：We model the endogenous determination of policy towards international factor mobility. In a common agency setting, domestic interest groups bid for protection from the government and the incumbent politicians maximize a welfare function that depends both on domestic voters' welfare and contributions collected. We characterize equilibrium policies in the price space and show how the degree of complementarity among inputs determines the outcome. We establish a similar result for quotas, allowing...
-
作者：Meissner, CM
作者单位：University of Cambridge
摘要：The gold standard gradually became an international monetary regime after 1870. Similarly, some nations in the European Union are waiting to adopt the euro while others have joined immediately. What explains the timing of exchange rate regime adoption? To find out, the international diffusion of the gold standard is analyzed. Duration analysis shows that network externalities operating through trade channels, the desire to decrease borrowing costs on international capital markets, and the leve...
-
作者：Ornelas, E
作者单位：University System of Georgia; University of Georgia
摘要：I evaluate in this paper the impact of free trade areas (FTAs) on the world trading system. I use an oligopolistic-political-economy model where the external tariffs of FTA members, as well as the decision to form FTAs, are endogenously determined. In this context, I show that FTAs are primarily beneficial to the multilateral trading system. This conclusion is based, first, upon the finding that FTAs induce their member governments to lower their external tariffs, and to do so deeply enough to...
