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作者：Rose, AK
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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：Markusen, JR; Venables, AJ
作者单位：National Bureau of Economic Research; University of Colorado System; University of Colorado Boulder; Center for Economic & Policy Research (CEPR); University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
摘要：A model is constructed in which multinational firms arise endogenously. Multinationals are more important in total activity when countries are similar in incomes (size) and in relative factor endowments, and when total world income is high. These predictions are consistent with empirical evidence, and our results help point to more formal tests. The standard oligopoly model of international trade is a special case of our model when multinationals are suppressed, and this allows us to provide a...
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作者：Sorensen, BE; Yosha, O
作者单位：Tel Aviv University; Brown University
摘要：We explore income and consumption smoothing patterns among European Community (EC) countries and among OECD countries during the period 1966-90. We find that, for OECD as well as for EC countries, about 40 percent of shocks to GDP are smoothed at the one year frequency, with about half the smoothing achieved through national government budget deficits and half by corporate saving. At the three year differencing frequency only 25 percent of shocks to GDP are smoothed, mainly via government lend...
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作者：Aggarwal, R
作者单位：Dartmouth College
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作者：Janeba, E
作者单位：Indiana University System; Indiana University Bloomington
摘要：The literature on strategic trade policy has shown that in imperfectly competitive markets governments have an incentive to subsidize exports of their own firms. Yet the consequence of the departure from laissez-faire is a wasteful subsidy race. In contrast, this paper shows that even in imperfectly competitive markets there is a strong tendency for laissez-faire to prevail. The driving force is the firms' willingness to exploit tax or subsidy differentials by relocating production. A small ta...
