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作者：Goldberg, LS
作者单位：National Bureau of Economic Research
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作者：Easterly, W; Loayza, N; Montiel, P
作者单位：The World Bank; Williams College
摘要：After years of poor macroeconomic performance, many Latin American countries undertook ambitious programs of macroeconomic stabilization and structural reform during recent years. The change in policy created high expectations for the region. Some observers question, however, whether actual growth outcomes in several Latin American countries have measured up to such expectations. This paper offers some evidence that the response of economic growth to reforms in Latin America has not been disap...
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作者：Stein, E
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作者：Cordella, T; Gabszewicz, JJ
作者单位：Universite Catholique Louvain; Pompeu Fabra University; International Monetary Fund
摘要：We analyze the principle of comparative advantage when agents in the world market are aware of the influence their individual supply exerts on the equilibrium exchange rate of goods, We show that specialization following comparative disadvantage can be an oligopoly equilibrium in a Ricardian economy. Moreover, for a wide class of economies, it is the only one. Nonetheless, when the number of agents in each country increases without limit, the equilibrium in which specialization follows compara...
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作者：BenDavid, D; Papell, DH
作者单位：Tel Aviv University; University of Houston System; University of Houston
摘要：In light of the substantial movement towards trade liberalization during the postwar period, this paper attempts to determine if, and when, countries experienced statistically significant changes in the paths of their export-GDP and import-GDP ratios. We find that: (1) most trade ratios exhibited a structural break in their time paths; (2) postbreak trade exceeded prebreak trade for the majority of countries; (3) the coincidence in timing between the import and export breaks does not appear to...
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作者：Osang, T; Pereira, A
作者单位：William & Mary
摘要：In this paper, we develop a small open economy model of trade with endogenous growth induced by human capital accumulation to analyze the effects of foreign growth on the domestic growth performance. Stronger foreign growth has the potential to increase domestic growth through a change in the terms of trade. For this to happen, the domestic attitude toward saving, as indicated by the intertemporal elasticity of substitution, plays a crucial role. For economies with sufficiently thrifty consume...
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作者：Willard, KL
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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 ...
