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作者：Heinemann, F; Illing, G
作者单位：University of Munich
摘要：Models with multiple equilibria are a popular way to explain currency attacks. Morris and Shin (1998) have shown that, in the context of those models, unique equilibria may prevail once noisy private information is introduced. In this paper, we apply the method of Morris and Shin to a broader class of probability distributions and show-using the technique of iterated elimination of dominated strategies-that their results continue to hold, even if we allow for sunspots and individual uncertaint...
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作者：Conconi, P; Perroni, C
作者单位：University of Warwick
摘要：We describe a model of international, multidimensional policy coordination where countries can enter into selective and separate agreements with different partners along different policy dimensions. The model is used to examine the implications of negotiation tie-in - the requirement that agreements must span multiple dimensions of interaction for the viability of multilateral cooperation when countries are linked by international trade flows and transboundary pollution. We show that, while in...
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作者：Forslid, R; Haaland, JI; Knarvik, KHM
作者单位：Norwegian School of Economics (NHH); Stockholm University
摘要：We use a large-scale CGE-model to simulate the effects of gradual economic integration on the location of industrial production. Our results reveal large differences among industries, Industries with high scale elasticities typically display a non-monotonous relationship between trade liberalisation and concentration, with maximum concentration for intermediate trade costs. Other industries, more driven by comparative advantage, become monotonously more concentrated as trade costs fall. On the...
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作者：Ickes, BW
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：Delgado, MA; Fariñas, JC; Ruano, S
作者单位：Universidad Carlos III de Madrid; Complutense University of Madrid; Banco de Espana
摘要：This paper examines total factor productivity differences between exporting and non-exporting firms. These differences are documented on the basis of a sample of Spanish manufacturing firms over the period 1991-1996. The paper also examines two complementary explanations for the greater productivity of exporting firms: (1) the market selection hypothesis, and (2) the learning hypothesis. Non-parametric tests are proposed and implemented for testing these hypotheses. Results indicate clearly hi...
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作者：Arnold, LG
作者单位：University of Regensburg
摘要：This paper examines the impact of intensified North-South intra-industry trade from a growth theoretic perspective. It incorporates unemployment into Helpman's [Econometrica 61 (1993) 1247] model of North-South trade. We assume that those Northern workers who lose their jobs due to imitation remain unemployed for a given (expected) length of time, so that imitation in the South causes frictional unemployment. It is shown that the shape of the relation between the (exogenous) rate of imitation ...
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作者：Magee, C
摘要：This paper develops a model in which tariffs are determined through bargaining between a utility maximizing policy maker and an industry lobby. Individual firms only contribute to the lobbying effort if it is in their own self-interest so that both trade policies and lobby formation are endogenous. By introducing bargaining between the industry and the government. the paper provides microfoundations for the tariff-formation function approach taken by many authors in the political economy liter...
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作者：Kose, MA
作者单位：Brandeis University
摘要：This paper analyzes the role of world price shocks - fluctuations in the prices of capital, intermediate, and primary goods, and in the world real interest rate - in the generation and propagation of business cycles in small open developing countries. I construct a stochastic dynamic multi-sector small open economy model. The model is a variant of the specific-factors model and reflects the major structural characteristics of developing economies. I utilize variance decomposition methods to qu...
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作者：Osakwe, PN; Schembri, LL
作者单位：Bank of Canada
摘要：This paper examines the impact of collapsing fixed, permanently fixed, and flexible exchange rate regimes on real output. Much of the recent discussion of the causes of exchange rate regime collapses has focused on capital flows and export demands. In an environment in which such external shocks predominate, a flexible exchange rate is shown theoretically to produce lower output variability for a range of parameter values. A counterfactual exercise is performed using Mexican data. We find that...
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作者：Goh, AT; Olivier, J
作者单位：Universite Catholique Louvain; National University of Singapore; Hautes Etudes Commerciales (HEC) Paris
摘要：This paper aims at reconciling theoretical models of endogenous growth with the empirical evidence on trade and growth. In particular, we show that the conventional wisdom according to which trade is growth-impairing for a country with comparative advantage in goods with limited opportunities for teaming fails to hold when the imported good is a capital good. The intuition is that the country gains access to cheaper capital goods, which raises investment, output per worker and teaming by doing...
