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作者：Kadiyali, V
摘要：This paper builds a model in the ''new empirical industrial organization'' framework [Bresnahan, T., 1989. Industries and Market Power. In: Schmalensee, R., Willig, R. (Eds.), Handbook of Industrial Organization. North Holland, Amsterdam.] to estimate exchange rate pass-through in price and advertising. Price-cost margins, market structure and firm conduct are estimated endogenously, allowing for precise estimation of the degree of, and reasons for, incomplete pass-through. I demonstrate that ...
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作者：Papell, DH
摘要：Using panel data methods, we investigate long-run purchasing power parity by testing for unit roots in real exchange rates of industrial countries under the current float. The evidence against the unit root hypothesis is stronger for larger than for smaller panels, for monthly than for quarterly data, and when the German mark, rather than the United States dollar, is used as the base currency. While we find that accounting for serial correlation considerably weakens the evidence against the un...
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作者：Goldberg, L; Tenorio, R
作者单位：National Bureau of Economic Research; University of Notre Dame
摘要：The market microstructure chosen for foreign exchange markets can influence trading volumes and equilibrium exchange rates. With emerging markets and developing countries increasingly utilizing two-sided auctions, we show that the choice of the discrete 'tatonnement' auction creates incentives for strategic behavior among market participants. Theoretical predictions on strategic under-revelation of demand or supply positions are supported empirically using detailed data from a rare example of ...
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作者：Brainard, SL; Verdier, T
作者单位：National Bureau of Economic Research; Universite PSL; Ecole Normale Superieure (ENS); Centre for Economic Policy Research - UK
摘要：Many observers have noted a strong tendency for protection, once it is instituted, to persist over time, This paper first shows that persistent protection arises whenever lobbying is an alternative to costly adjustment, With endogenous protection, the level of tariffs is an increasing function of past tariffs: the more an industry lobbies, the greater the current protection it receives and the less it adjusts, and the less the industry adjusts the more effective it is as a lobby in the future....
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作者：Williamson, JG
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作者：vanMarrewijk, C; Stibora, J; deVaal, A; Viaene, JM
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Tinbergen Institute; University of London; London School Economics & Political Science; University of Groningen
摘要：We unite the theories of factor abundance and monopolistic competition to explore the general equilibrium relations between trade in producer services, economies of scale and factor markets. In our model, two final goods are produced using capital, labor, and a variety of differentiated producer services that are produced under increasing returns to scale. We analyze the implications for comparative advantage and trade in goods between two countries that differ in factor endowments and in tech...
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作者：Feenstra, RC; Kendall, JD
作者单位：University of California System; University of California Davis; University of California System; University of California Berkeley; National Bureau of Economic Research; Nanyang Technological University
摘要：In this paper we develop and test two hypotheses about purchasing power parity (PPP). The first is that changes in the price of traded goods relative to domestic substitutes will affect the PPP relation, due to the partial pass-through of exchange rates. The second is that PPP should hold on forward rather than spot exchange rates, due to hedging by firms, which implies that the interest rate differential should enter the PPP relation for spot rates. Using quarterly data for several countries,...
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作者：Miyagiwa, K; Ohno, Y
作者单位：Oregon State University
摘要：The Spencer-Brander argument for strategic R&D policy (Review of Economic Studies, 1983, 50, 702-722) is re-examined within an intertemporal model of stochastic innovation. It is shown that an optimal policy is independent of the choice of strategic variables in product market competition but sensitive to the appropriability of the new technology. At low or high degrees of appropriability R&D taxes are an optimal policy but at intermediate degrees R&D subsidies may be optimal. The paper explai...
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作者：Aitken, B; Hanson, GH; Harrison, AE
作者单位：University of Texas System; University of Texas Austin; International Monetary Fund; Columbia University; National Bureau of Economic Research
摘要：Case studies of export behavior suggest that firms that penetrate foreign markets reduce entry costs for other potential exporters, either through learning effects or establishing commercial linkages. We examine whether spillovers associated with one firm's export activity reduce the cost of exporting for other firms. We identify two sources of spillovers: export production in general and the specific activities of multinationals. From a simple model of export behavior we derive a probit speci...
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作者：Cremers, ET
摘要：This paper explores the role of arbitrary assumptions regarding dimension and the tradeability of capital in neoclassical growth models. It is shown that international markets for physical and financial capital are required to reproduce the competitive world growth path only when the number of traded (non-capital) goods is less than the number of factors, provided that countries are diversified along their growth paths. Capital markets compensate for lacking consumption good markets in models ...
