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作者：Blonigen, BA; Ohno, Y
作者单位：University of Oregon; Rice University
摘要：We introduce the possibility of foreign direct investment (FDI) in a strategic, oligopolistic setting with endogenous protection and find that a number of unique subgame-perfect equilibria may arise, including a new result we call protection-building trade. This phenomenon occurs in our model when foreign firms locating production in the home country try to increase protectionist pressures in the home country (through increased exports) to provide larger barriers against other foreign competit...
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作者：Winkelmann, L; Winkelmann, R
作者单位：University of Canterbury
摘要：This paper reports quantitative information on the effects of tariffs and quotas on prices of individual goods. The analyses uses the natural experiment provided by a comprehensive unilateral trade policy reform in New Zealand to examine the response of foreign exporters to an incident of liberalisation that is unique in the developed world. The price effects bf tariffs and quotas are estimated using a multidestination 7-digit longitudinal product-level dataset on export values and quantities....
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作者：Cadot, O; Desruelle, D
作者单位：INSEAD Business School; International Monetary Fund
摘要：This paper examines the determinants of the allocation of national R&D resources between research and development activities. We derive conditions under which a firm being outdistanced by a foreign rival in a two-stage international patent race would drop out, and relate those conditions to home-market size and to the race's cost and risk characteristics. Because of this discouragement effect, firms located in smaller markets appear as if they were, on average, less successful in transforming ...
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作者：Harrigan, J
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
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作者：Beetsma, RMWJ; Bovenberg, AL
作者单位：Centre for Economic Policy Research - UK
摘要：With benevolent policymakers and fiscal leadership, monetary unification reduces inflation, taxes and public spending. These disciplining effects of a monetary union, which become stronger if the number of participants in the union increases, are likely to raise welfare. Two types of arrangements are considered for the union's common central bank (CCB): making the CCB more conservative and imposing an inflation target on the CCB. In contrast to the results of Svensson (1997) [Svensson, L.E.O.,...
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作者：Ghironi, F; Giavazzi, F
作者单位：University of California System; University of California Berkeley; Bocconi University
摘要：We show that the employment-inflation tradeoff facing a central bank depends on the size of the economy for which it sets monetary policy. For inflation-averse central banks, the tradeoff improves the smaller the relevant economy. The tradeoff facing the region whose central bank controls the exchange rate in a managed exchange rate regime does not change moving to a symmetric flexible exchange rate regime. Instead, the core region in an asymmetric regime faces a worse tradeoff than under flex...
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作者：Lee, J
作者单位：University of California System; University of California Irvine
摘要：This paper analyzes the hitherto unexplored relation between expected exchange rates and import prices of durable goods. The distinguishing feature of durable goods is their asset-like quality, implying that their current and future sales are substitutable: durability induces intertemporal substitution. Hence, expected exchange rates affect the current price of imported durables. Although the sign of the effect cannot be determined by theory only, the evidence shows that an expected appreciati...
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作者：Michaely, M
作者单位：Hebrew University of Jerusalem
摘要：Most often, the theory of preferential trade agreements assumes a small home country, and a large partner. In this paper, the welfare implications of a small trading partner are examined. A distinction is found between two ranges of size: a country may be just small, or be ultra-small. Conventional propositions about the likelihood of a gain or a loss from entering into a preferential agreement would still hold when the partner is small; whereas some of them would have to be reversed when the ...
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作者：Walz, U
作者单位：Eberhard Karls University of Tubingen
摘要：We address the effects of a step-wise enlargement of a common market from two to three countries by using a three-country endogenous growth model. We show that integration of a third, technologically lagging country via trade liberalization causes a reallocation of resources which stimulates overall growth. Liberalizing trade with the third country leads to income convergence between the two established countries. Furthermore, we look at the impact of a liberalization of factor markets. (C) 19...
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作者：Canova, F; Marrinan, J
作者单位：Pompeu Fabra University
摘要：This paper studies the generation and transmission of international cycles in a multicountry model with production and consumption interdependencies. Two sources of disturbance are considered and three channels of propagation are compared. Technology disturbances, which are mildly correlated across countries, are more successful than government expenditure disturbances in reproducing actual data. The presence of a common component to the shocks and of production interdependencies appear to be ...
