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作者：Klimenko, MM
作者单位：University of California System; University of California San Diego
摘要：This paper analyzes the effect of a debtor country's pattern of trade with commercial creditors' home countries on the outcome of debt-rescheduling negotiations. The analysis reveals that a debtor country with more market power has greater leverage in a three-way debt-re scheduling negotiation that includes the debtor country, its creditors and the International Financial Institutions (IFIs). The paper also considers the effects of the IFI sovereign-debt policy on the bargaining power of the p...
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作者：Campa, JM
作者单位：University of Navarra
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作者：Neely, CJ
作者单位：Federal Reserve System - USA; Federal Reserve Bank - St. Louis
摘要：This paper characterizes the temporal pattern of trading rule returns and official intervention for Australian, German, Swiss and U.S. data to investigate whether intervention generates technical trading rule profits. The data reject the hypothesis that intervention generates inefficiencies from which technical rules profit. In particular, high frequency data show that abnormally high trading rule returns precede German, Swiss and U.S. intervention. Australian intervention precedes high tradin...
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作者：Benigno, P
作者单位：New York University; Centre for Economic Policy Research - UK
摘要：This paper analyzes the strategic interaction between the monetary policymakers of two countries, in an intertemporal general equilibrium model with nominal rigidities and imperfect competition. It offers an excursus on non-cooperative towards cooperative solutions. In a non-cooperative equilibrium the monopolistic allocation prevails in both countries, because of the incentive to use strategically the terms of trade. In a cooperative solution where both policymakers internalize the externalit...
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作者：Glass, AJ; Saggi, K
作者单位：University System of Ohio; Ohio State University; Southern Methodist University
摘要：We develop a symmetric two country model of foreign direct investment (FDI) that captures the internalization decision and its implications for both the rate and magnitude of innovations. When mode choice (licensing versus FDI) is fixed, a subsidy to multinational production increases the rate but decreases the size of innovations. When mode can switch, the rate and size of innovations both increase, provided the subsidy is not too large. Although innovation size decreases for industries where...
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作者：Bernsteina, JR; Weinstein, DE
作者单位：Columbia University; National Bureau of Economic Research; University of Wisconsin System; University of Wisconsin Madison; University of Wisconsin System; University of Wisconsin Madison
摘要：Examining the relationship between factor endowments and production patterns using data from Japanese prefectures and from OECD nations, we find evidence of substantial production indeterminacy. Regressions of outputs on endowments yield prediction errors six to 30 times larger for goods traded relatively freely than for non-traded goods. We argue that a compelling explanation for these results is the existence of more goods than factors in the presence of trade costs. If so, regressions of tr...
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作者：Kim, W; Wei, SJ
作者单位：Brookings Institution; Harvard University; National Bureau of Economic Research; Korea Development Institute (KDI)
摘要：Using a unique data set, we study the trading behavior of foreign portfolio investors in Korea before and during the currency crisis. The central message is that investors in different categories have different trading patterns. For example, foreign investors outside Korea are more likely to engage in positive feedback trading strategies and are more likely to engage in herding than the branches I subsidiaries of foreign institutions in Korea or foreign individuals living in Korea. This differ...
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作者：Corsetti, G
作者单位：Roma Tre University
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作者：Blonigen, BA
作者单位：University of Oregon; National Bureau of Economic Research
摘要：This paper examines the tariff-jumping response of all firm and product combinations subject to US antidumping investigations from 1980 to 1990 using a newly constructed database. Previous studies have focused only on Japanese FDI responses to antidumping protection and found large tariff-jumping responses. In contrast, this paper finds quite modest tariff-jumping responses and the evidence suggests that tariff-jumping is only a realistic option for multinational firms from industrialized coun...
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作者：Furusawa, T; Wen, Q
作者单位：Yokohama National University; Vanderbilt University
摘要：This paper analyzes trade negotiations between two large countries in the framework of an alternating-offer bargaining model with endogenous interim disagreement actions, Despite of the flexibility in disagreement tariff selection, the countries would keep the status quo tariffs in disagreement periods as far as the country which benefits from keeping the status quo tariffs compensates for the other country's foregone gains from deviating in disagreement actions. Each equilibrium outcome conve...
