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作者：BenDavid, D
摘要：This paper examines the relationship between international trade and income convergence among countries by focusing on groups of countries comprising major trade partners. The majority of these trade-based groups exhibited significant convergence. Furthermore, a comparison of the trade-based groups with different country groupings (randomly selected, or according to other criteria) shows that the former were more likely to exhibit convergence than the latter.
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作者：Bond, EW; Syropoulos, C
摘要：We construct an n-country n-commodity trade model to analyze the implications of bloc size for (Nash) equilibrium tariffs and welfare. The relationship between the absolute size of (symmetric) trading blocs and their market power is ambiguous, and we illustrate how this relationship varies with model parameters. In contrast, sufficiently large increases in the relative size of a bloc enhance its relative market power and cause the welfare of its country members to rise above the free trade lev...
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作者：Frankel, JA; Rose, AK
作者单位：University of California System; University of California Berkeley
摘要：We use a panel of annual data for over 100 developing countries from 1971 through 1992 to characterize currency crashes. We define a currency crash as a large change of the nominal exchange rate that is also a substantial increase in the rate of change of nominal depreciation. We examine the composition of the debt as well as its level, and a variety of other macroeconomic factors, external and foreign. Crashes tend to occur when: output growth is low; the growth of domestic credit is high; an...
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作者：Eaton, J; Kortum, S
作者单位：National Bureau of Economic Research
摘要：We develop a model of growth and technology diffusion which we fit to aggregate data from OECD countries. Our model implies that each country will eventually grow at the same rate, with its relative productivity determined by its ability to adopt new inventions. Hence productivity levels rather than growth rates better reflect a country's ability to innovate or to adopt new technology. We estimate the model to explain international patterns of productivity and patenting. We find that more than...
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作者：Greaney, TM
摘要：Proponents claim that voluntary import expansions (VIEs) increase foreign access to a domestic market while increasing competition and reducing prices. Using a Bertrand model, I show that a VIE produces exactly the opposite results. A VIE that increases the market share of imports above the prevailing level results in higher prices in the domestic market. This result holds even when the domestic market is assumed to be protected by a tariff-type barrier prior to the imposition of a VIE. A VIE ...
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作者：Calvo, GA; Mendoza, EG
作者单位：Federal Reserve System - USA; University System of Maryland; University of Maryland College Park
摘要：This paper claims that the roots of Mexico's balance-of-payments crisis are found in the prevailing high degree of capital mobility and financial globalization. Under these circumstances, shifts in foreign capital hows and anticipation of a banking-system bailout may produce large imbalances between stocks of financial assets and foreign reserves, threatening the sustainability of currency pegs. Econometric analysis suggests that half of Mexico's reserve losses could be accounted for by these ...
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作者：Driskill, RA; Horowitz, AW
摘要：This paper analyzes strategic trade policy when home and foreign duopolists produce a durable good that is either sold or leased in a third country. Durability is important for two reasons: it characterizes most of the products discussed in the strategic trade literature, and it also calls for explicit dynamic modeling. For duopolists who sell their product in a third-country market, this paper finds the optimal policy to be a tax on domestic output. For duopolists who lease the good in a thir...
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作者：Waelbroeck, P
摘要：The method described by Levinsohn and Feenstra (Journal of International Economics, 1990, 28, 199-215) to identify the set of competitors faced by a differentiated product is modified to deal with the case in which the set of characteristics describing the product includes one or more dummy variables. This is illustrated by an application to the Belgian car market. An algorithm is also proposed in the appendix.
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作者：Aitken, B; Harrison, A; Lipsey, RE
作者单位：Columbia University; National Bureau of Economic Research; City University of New York (CUNY) System; Queens College NY (CUNY); City University of New York (CUNY) System
摘要：This paper explores the relationship between wages and foreign investment in Mexico, Venezuela, and the United States. Despite very different economic conditions and levels of development, we find one fact that is robust across all three countries: higher levels of foreign investment are associated with higher wages. However, in Mexico and Venezuela, foreign investment is associated with higher wages only for foreign-owned firms - there is no evidence of wage spillovers leading to higher wages...
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作者：Cole, HL; Kehoe, TJ
作者单位：University of Minnesota System; University of Minnesota Twin Cities
摘要：This paper explores the extent to which the Mexican government's inability to roll over its debt during December 1994 and January 1995 can be modeled as a self-fulfilling debt crisis. In the model there is a crucial interval of debt for which the government, although it finds it optimal to repay old debt if it can sell new debt, finds it optimal to default if it cannot sell new debt. If government debt is in this interval, which we call the crisis zone, then we can construct equilibria in whic...
