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作者：Hillman, AL; Van Long, N; Soubeyran, A
作者单位：Universite de Montreal; McGill University; McGill University; Bar Ilan University; Aix-Marseille Universite
摘要：We look at a model of lobbying by oligopolistic industry where firms allocate resources between lobbying and internal cost-reducing activities. We ask the following questions: (i) if firms differ with respect to comparative advantage in lobbying. what is the equilibrium allocation of resources between lobbying and cost-reducing activities? (ii) Can lobbying opportunities reverse the profitability ranking among firms? (iii) tinder what condition is the conventional wisdom that highly concentrat...
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作者：Reis, AB
作者单位：Universidade Nova de Lisboa
摘要：Modern growth theory emphasizes endogenous technological change as the engine of growth. A policy implication for developing countries that has been drawn from this theory is that foreign direct investment increases growth. However, welfare assessments must recognize that investment returns may be repatriated. In this paper we show that foreign investment may decrease national welfare due to the transfer of capital returns to foreigners. Taking into account all the relevant effects, we show th...
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作者：Van Rijckehem, C; Weder, B
作者单位：University of Basel; International Monetary Fund
摘要：This paper presents evidence that spillovers through bank lending, as opposed to trade linkages and country characteristics, can help explain contagion. We construct a measure of competition for bank funds and find evidence in favor of a common lender effect in the Mexican, Thai, and Russian crises, after controlling for the degree of trade competition and macroeconomic fundamentals. The results are quite robust to the definition of the finance indicator, In the case of the Asian crisis, resul...
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作者：Herrera, LO; Valdés, RO
摘要：In this paper we present a model of international interest rate arbitrage under conditions of entry and exit costs to and from the domestic capital market. We seek to measure the maximum potential effect of capital controls, such as non-interest paying reserve requirements, on interest rate differentials. We quantify the effect of such taxes using a dynamic optimization model with uncertainty and transaction costs. An optimal (S,s) rule gives the limits for interest rate differentials that tri...
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作者：Ruffin, RJ
作者单位：University of Houston System; University of Houston; Federal Reserve System - USA; Federal Reserve Bank - Dallas
摘要：This paper integrates the Heckscher-Ohlin, specific factors, and the Ricardian models of production with applications to international trade and labor economics. The model economy exhibits both Heckscher-Ohlin and specific factors properties, but never at the same time. In international trade, the wage skill premium across countries can move in different directions and has natural limits within countries. In labor economics, we show that the earning of economic rents is not inconsistent with c...
