-
作者：Harrigan, J
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：International trade economists typically assume that there are no cross-country differences in industry total factor productivity (TFP). In contrast, this paper finds large and persistent TFP differences across a group of industrialized countries in the 1980s. The paper calculates TFP indices, and statistically examines the sources of the observed large TFP differences across countries. Two hypotheses are examined to account for TFP differences: constant returns to scale production with countr...
-
作者：Head, K; Ries, J
作者单位：University of British Columbia
摘要：We analyze a panel of 230 Canadian manufacturing industries to investigate whether trade Liberalization promotes efficiency through increased scale. During the six years following the Free Trade Agreement with the United States, Canadian manufacturing exhibited substantial rationalization - a decline in the number of plants accompanied by increases in output per plant. We find that the bilateral tariff reductions had opposing effects on scale. Contraction induced by lower Canadian tariffs larg...
-
作者：Furusawa, T
作者单位：Yokohama National University
摘要：The governments of two countries explicitly negotiate over a new pair of tariffs. As soon as they reach agreement, the countries put into effect the agreed-upon pair of tariffs, which must be self-enforcing. We investigate how the difference in the two governments' patience affects the negotiation results. Provided that the common optimum tariff is the status quo tariff rate for each country, we find that the country with the more patient government gains most from the negotiation if the time ...
-
作者：Demiroglu, U; Yun, KK
作者单位：University of Michigan System; University of Michigan; State University of New York (SUNY) System; University at Albany, SUNY
摘要：Deardorff (1994) provides a condition that is necessary for factor price equalization across countries. This is a generalization of the condition that ''country endowments should he in the diversification cone from the standard 2 x 2 x 2 Heckscher-Ohlin model to the case of many goods, countries and factors. He also shows that this condition is sufficient in the case of two countries and conjectures that the sufficiency might hold in general. In this paper we establish the sufficiency in furth...
-
作者：Konishi, H; Saggi, K; Weber, S
作者单位：Southern Methodist University
摘要：Using Bernheim and Whinston (1986) common agency game, we endogenize trade policy in a duopoly composed of a domestic firm and a foreign firm, where both firms influence the domestic government's trade policy via their contributions. The foreign firm can jump over trade restrictions by undertaking foreign direct investment (FDI) in the domestic market. The government prefers a voluntary export restraint (VER) to a tariff for two reasons. First, a VER leads to higher contributions from the fore...
-
作者：Vitale, P
作者单位：University of London; London School Economics & Political Science
摘要：We have studied the signalling role of sterilised foreign exchange intervention using a market micro-structure framework. We have assumed that the monetary authorities intervene in the foreign exchange market in order to target the value of a foreign currency. Since the fundamentals of the foreign currency are not necessarily equal to this objective, the central bank does not have an incentive to reveal its intervention operations and no announcement on its activity will be credible. Under the...
-
作者：Ballabriga, F; Sebastián, M; Vallés, J
作者单位：Banco de Espana; Universitat Ramon Llull; Escuela Superior de Administracion y Direccion de Empresas (ESADE); Complutense University of Madrid
摘要：The degree of symmetry of the shocks that cause macroeconomic fluctuations in the different European economies is a basic consideration when evaluating the cost in terms of loss of the nominal exchange rate as an instrument for short-term macroeconomic adjustment, The more symmetrical these shocks, the lower the costs. This paper uses a structural Bayesian Vector Autoregressive (BVAR) approach and quarterly data from 1970 to 1996 to characterise the responses to common and specific, nominal an...
-
作者：Carter, TJ
作者单位：University of Oklahoma System; University of Oklahoma Health Sciences Center
摘要：This paper studies illegal immigration using an efficiency wage/dual labor market model. The illegal immigrants are endogenously sorted, completely or incompletely, into secondary labor markets. The effects of immigration on native workers are more complex than in standard models of factor mobility. As illegals first enter the country, natives may gain because the number of primary sector jobs rises. With enough illegals in the country, natives are hurt because the migrants increasingly take t...
-
作者：Furusawa, T; Lai, ELC
作者单位：City University of Hong Kong; Yokohama National University; Vanderbilt University
摘要：This paper analyzes dynamic bilateral trade liberalization between two large countries. Trade liberalization causes the importable sector of each country to shrink and thereby causes reallocation of labor between sectors. Assuming that each moving worker must pay a fixed adjustment cost, a country has to bear a total adjustment cost which is linear in the amount of moving workers. We derive the most-cooperative, self-enforcing trade liberalization path, and find that in general trade liberaliz...
-
作者：Jones, RW; Beladi, H; Marjit, S
作者单位：University System of Ohio; University of Dayton; University of Rochester
摘要：In this paper we suggest that factor intensities have more than one face and care must be taken in the comparisons chosen. Among other things, we illustrate that in the multi-country, multi-commodity case, a capital-abundant country's export can easily be more labor-intensive than its import-competing sector. (C) 1999 Elsevier Science B.V. All rights reserved.
