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作者：Bac, M; Raff, H
作者单位：Indiana University System; Indiana University Bloomington
摘要：We present a model of tariff disputes and concessions consisting of an infinitely repeated game under bilateral incomplete information. Given potential agreements to be reached through unilateral or reciprocal concessions, we find that an agreement involving reciprocal concessions is reached immediately if the discount factor is large and/or the volume of trade is small. Otherwise prior beliefs about country type matter: when both countries hold pessimistic priors, immediate reciprocal concess...
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作者：Goldberg, LS; Karimov, I
作者单位：National Bureau of Economic Research; International Institute for Applied Systems Analysis (IIASA)
摘要：In emerging market economies, under-development of financial markets leads to goods hoarding and foreign currency accumulation as forms of investment. In this paper an asset market model, supplemented by explicit treatment of smuggling and second-economy activity, is used to study the paths of black-market exchange rates, second-economy prices, hoarding stocks, and privately held dollar balances following policy reforms. We discuss conditions for overshooting and related dynamics of exchange r...
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作者：Ishikawa, J; Lee, KD
作者单位：Keimyung University
摘要：This paper examines the effects on the domestic economy of domestic tariffs imposed on an intermediate good or a final good in vertically related markets which are characterized by Cournot oligopolies. Tariffs could lead a foreign firm to enter or exit from the domestic final-good market. Some of our results are counter-intuitive. It is particularly shown that tariffs on the intermediate good which induce the entry could harm domestic intermediate-good producers and/or benefit domestic final-g...
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作者：Morton, JE
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作者：Dinopoulos, E; Syropoulos, C
作者单位：State University System of Florida; Florida International University; State University System of Florida; University of Florida
摘要：The paper develops a dynamic multi-country, multi-commodity model of Schumpeterian growth, trade, and tariffs. The presence of a nontraded final good sector generates differences in long-run growth across countries. Furthermore, if the growth intensity of the nontraded good is lower than the growth intensity of traded goods, then the liberalization of trade raises the long-run growth of all trading partners. The paper also analyzes the implications of multilateral, bilateral and unilateral sch...
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作者：Lovely, ME
摘要：In a small, open economy characterized by an increasing-returns sector and foreign-owned capital, a sector-specific instrument generally is needed to achieve the optimum. A capital subsidy alone can be used for decentralization, however, when the optimal production plan is specialization in the externality-generating activity. The effect of a capital subsidy on home income and its distribution depends on the pattern of production and the share of domestic capital that is foreign owned. In a di...
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作者：Devereux, MB; Saito, M
作者单位：Kyoto University
摘要：This paper develops a general equilibrium model of limited international asset trade in a two-country setting. In the model, only non-contingent claims can be traded in international assets markets. The paper has three main results. First, it establishes a simple and intuitive condition for the existence of a non-degenerate stationary distribution of world wealth; this condition requires the country with the highest expected growth rate under autarky to have the lowest autarky risk-free intere...
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作者：Feenstra, RC; Hanson, GH
作者单位：University of Texas System; University of Texas Austin; University of California System; University of California Davis
摘要：In this paper, we examine the increase in relative wages for skilled workers in Mexico during the 1980s. Rising wage inequality in Mexico is linked to foreign capital inflows. We study the impact of foreign direct investment (FDI) on the skilled labor share of wages in Mexico over 1975-1988. We measure FDI using regional data on foreign assembly plants. Growth in FDI is positively correlated with the relative demand for skilled labor. In regions where FDI has concentrated, growth in FDI can ac...
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作者：Lane, PR
摘要：This paper relates the time-consistent inflation rate to the degree of trade openness of an economy. The mechanism linking the welfare effects of monetary surprises (and hence the incentives to inflate) to openness does not rely on a large-country terms of trade effect but rather is due to imperfect competition and nominal price rigidity in the non-traded sector. The empirical evidence supports the main predictions of the model. (C) 1997 Elsevier Science B.V.
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作者：Hoff, K
摘要：Most analyses of the infant industry argument assume that production early on benefits subsequent production in deterministic fashion. This paper presents an alternative framework for evaluating the infant industry argument that focuses on imperfect information as a barrier to entry. Initial entrants provide information of social value by reducing uncertainty for potential followers about the suitability of local conditions. In contrast to earlier work, I show that factors that increase the in...
