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作者：Glazer, A; Ranjan, P
作者单位：University of California System; University of California Irvine
摘要：We consider individuals who value product variety, and who can be skilled or unskilled as workers. Skilled people prefer to consume skill-intensive goods. We show that under plausible conditions an increase in the relative size of the skilled population increases the relative wage of skilled workers, thereby increasing wage inequality. In our two-country model of trade, an increase in the relative supply of skilled labor in either country increases the relative wage of skilled workers, and hen...
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作者：Conconi, P
作者单位：University of Warwick; University of Warwick; UK Research & Innovation (UKRI); Economic & Social Research Council (ESRC)
摘要：We employ a common agency model of policy making to examine how green lobbies affect the determination of trade and environmental policies in two large countries that are linked by trade flows and transboundary pollution. We show that the impact of green lobbying on environmental policy outcomes depends crucially on the prevailing trade regime-cooperative or non-cooperative-on whether environmental agencies act in a unilateral or coordinated manner, and on the size of the emission leakages and...
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作者：Blonigen, BA; Bown, CP
作者单位：Brandeis University; University of Oregon
摘要：We propose and test two ways in which retaliation threats may dampen the antidumping (AD) activity we observe. First, the threat of retaliatory AD actions may make a domestic industry less likely to name a foreign import source in an AD petition. Second, the prospect of a GATT/WTO trade dispute may make government agencies less likely to rule positive in their AD decision. Using a nested logit framework, we find evidence that both retaliation threats substantially affect US AD activity from 19...
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作者：Kim, S
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：The structural VAR model is developed to jointly analyze the effects of foreign exchange intervention and (money or interest rate setting) conventional monetary policy on the exchange rate, the two types of policy reactions to the exchange rate, and interactions between the two types of policies. First, many interactions among the two types of policies and the exchange rate are found, which suggests that a joint analysis is important. Second, foreign exchange intervention has substantial effec...
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作者：Dominguez, KM
作者单位：University of Michigan System; University of Michigan
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作者：Rigobon, R
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：The empirical literature on 'contagion' focuses mainly on two questions: (1) what are the channels through which shocks are transmitted across countries, trade, macro similarities, financial weaknesses, or investor behavior? (2) Is there a shift in the transmission of shocks during crises? Are crises spread with higher intensity? If so, why? This paper concentrates on the econometric problems that arise in dealing with the second question. The data where most of these issues are raised are pla...
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作者：Ederington, J; McCalman, P
作者单位：University of Miami; University of California System; University of California Santa Cruz
摘要：Recent research has highlighted the efficiency of the MFN principle within the GATT/WTO structure. This paper analyzes the exception made to MFN within Article XXIII that allows discriminatory punishment for deviations from the agreement. We argue that, in the absence of collusion, the MFN exception reduces the severity of punishment and thus lowers the level of cooperation that can be achieved by the agreement. However, discriminatory punishment may still be beneficial as we show that it redu...
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作者：Irwin, DA
作者单位：Dartmouth College; National Bureau of Economic Research; Dartmouth College
摘要：The US produced about 80% of the world's cotton in the decades prior to the Civil War. How much monopoly power did the US possess in the world cotton market and what would have been the effect of an optimal export tax? This paper estimates the elasticity of foreign demand for US cotton exports and uses the elasticity in a simple partial equilibrium model to calculate the optimal export tax and its effect on prices, trade, and welfare. The results indicate that the export demand elasticity for ...
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作者：Kim, J; Kim, SH
作者单位：University of Virginia; Tufts University
摘要：Several papers have documented spurious welfare reversals: incomplete-markets economy produces a higher level of welfare than the complete-markets economy. This paper first demonstrates how conventional linearization can generate approximation errors that can result in welfare reversals. Using a two-country production economy, we argue that spurious welfare reversals are not only possible but also plausible under reasonable values for model parameters. This paper then proposes an approximation...
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作者：Kim, J; Kim, SH; Levin, A
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; University of Virginia; Tufts University
摘要：We investigate the welfare implications of alternative financial market structures in a two-country endowment economy model. We obtain an analytic expression for the expected lifetime utility of the representative household when sovereign bonds are the only internationally traded asset, and we compare this welfare level with that obtained under complete asset markets. The welfare cost of incomplete markets is negligible if agents are very patient and shocks are not very persistent, but this co...
