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作者：Falvey, R; Kreickemeier, U
作者单位：University of Nottingham
摘要：The standard competitive trade model, extended to include many goods and factors, is used to analyze the effect of goods and factor market integration on average international disparities in the real returns of internationally immobile factors. It is shown that goods market integration decreases international real return differentials for all factors. We derive sufficient conditions for this result to hold for the subgroup of internationally immobile factors as well. While there is a presumpti...
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作者：Miller, NH; Pazgal, A
作者单位：Harvard University; Washington University (WUSTL)
摘要：Strategic trade theory has been criticized on the grounds that its predictions are overly sensitive to modeling assumptions. Applying recent results in duopoly theory, this paper considers three-stage games in which governments choose subsidies, firms' owners choose incentive schemes for their managers, and then the managers compete in the product market. We show that if firms' owners have sufficient control over their managers' behavior, then the optimal strategic trade policy does not depend...
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作者：Melitz, MJ
作者单位：Harvard University; National Bureau of Economic Research; Harvard University; Center for Economic & Policy Research (CEPR)
摘要：This paper develops and analyzes a welfare maximizing model of infant industry protection. The domestic infant industry is competitive and experiences dynamic learning effects that are external to firms. The competitive foreign industry is mature and produces a good that is an imperfect substitute for the domestic good. A government planner can protect the infant industry using domestic production subsidies, tariffs, or quotas in order to maximize domestic welfare over time. As protection is n...
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作者：Abe, K; Zhao, LX
作者单位：Kobe University; University of Osaka
摘要：This paper examines the welfare effects of emission taxes under a choice between an international joint venture (JV) and a full-ownership FDI (Foreign Direct Investment) by parent firms from a developed country (the North) and a developing country (the South), as well as their location and share decisions. If the South has a poor abatement technology, its best policy is to impose a relatively high emission tax to attract a full-ownership FDI. If it has a good abatement technology, the best pol...
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作者：Weinschelbaum, F; Wynne, J
作者单位：Duke University; Universidad de San Andres Argentina
摘要：Collective action clauses (CACs) are provisions specifying that a supermajority of bondholders can change the terms of a bond. We study how CACs determine goventments' fiscal incentives, sovereign bond prices, and default probabilities in environments with and without contingent debt and IMF presence. We claim that CACs are likely to be an irrelevant dimension of debt contracts in current sovereign debt markets because of the variety of instruments utilized by sovereigns and the implicit IMF g...
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作者：Magee, CSP; Davidson, C; Matusz, SJ
作者单位：Michigan State University; Bucknell University; University of Nottingham
摘要：This paper examines the hypothesis that turnover affects trade preferences. High turnover industries are similar to the Stolper-Sarnuelson assumption of perfect factor mobility, so factor of production drives trade preferences. Among low turnover industries, as in the specific factors model, net export position determines trade preferences. We show that PAC contribution patterns are consistent with this hypothesis. In high turnover industries, capital groups give significantly larger shares of...
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作者：Bazdresch, S; Werner, A
作者单位：Yale University
摘要：The Mexican peso has shown long periods of tranquility that suddenly give rise to short volatile periods. We characterize this exchange rate process by estimating a series of regime switching regressions and comparing the different specifications as pioneered by Meese and Rogoff [J. Int. Econ. 14 (1983) 3]. We find evidence for two clearly identified regimes: one with an appreciating trend and low volatility, and another with large depreciations and high volatility. We use the estimated model ...
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作者：Gao, T
作者单位：University of Missouri System; University of Missouri Columbia; City University of Hong Kong
摘要：This paper studies foreign direct investment (FDI) and economic growth in a two-country endogenous growth model. Starting with a core-periphery steady state in the world, the model shows that economic integration gives rise to FDI, leads to an expansion of R&D activity in the industrial core, and increases the world growth rate. In that process, the peripheral country enjoys a rise in the level of living standards. The model suggests that the often-observed positive correlation between inward ...
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作者：Zhu, SC
作者单位：Michigan State University
摘要：Since the late 1970s, both developed and developing countries have experienced skill upgrading; that is, a rise in skilled labor's share of employment and payroll. In this paper, I examine the extent to which skill upgrading can be explained by product cycles, that is, by U.S. innovation and the subsequent relocation of production to U.S. trading partners. The following conclusions obtain. (i) Product-cycle trade is strongly and positively correlated with skill upgrading in a large panel of in...
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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...
