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作者：IKEDA, S; SHIBATA, A
作者单位：University of Osaka
摘要：Using a monetary model of exchange rate determination, we study exchange rate dynamics with bubbles which depend on stochastic market fundamentals. These dynamics can be either stochastically stable or unstable; and either monotonic or non-monotonic (including cyclic). In an extreme case, they converge with probability one and exhibit cyclic movements. Implications for the analysis of time-dependent regime shifts are also explored. Exchange rates with bubbles are likely to appear less volatile...
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作者：HAVEMAN, JD
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作者：LAI, ELC
摘要：This paper uses a North-South trade model with skilled and unskilled labor to study the effect of labor supply on the world distribution of income. The world rate of innovation is endogenized. An increase in the supply of unskilled labor in a country lowers its steady-state relative wage (which is consistent with Krugman's result), while an increase in supply of skilled labor in a country raises its steady-state relative wage (which is consistent with Grossman-Helpman's result) when the elasti...
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作者：WERNER, AM
作者单位：Yale University
摘要：This paper develops a target zone model for the exchange rate where the expected realignment is an increasing function of the distance of the exchange rate from the central parity, as a percentage of the width of the band. In this framework, the interest rate differential increases with the deviation of the exchange rate from the central parity when the exchange rate is close to the central parity, and it decreases when the exchange rate is close to the edges of the band. Finally, the paper lo...
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作者：WEYMARK, DN
摘要：This article illustrates the method by which measures of exchange market pressure and the degree of intervention can be obtained and applied as tools for policy analysis. Using a fairly simple model of a small open economy with rational expectations, quarterly measures of exchange market pressure and the degree of intervention are calculated for the Canadian economy over the period 1975 to 1990. A subset of these calculated values is then employed to analyze the Bank of Canada's conduct of exc...
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作者：DINOPOULOS, E; LEWIS, TR; SAPPINGTON, DEM
摘要：We examine a government's optimal targeting policy when it has limited information about the learning curves of domestic producers. Popular arguments suggest that in order to promote learning-by-doing, the government might want to protect domestic producers from foreign competition by temporarily closing the domestic market to foreign producers. We identify a set of conditions under which such trade intervention is not optimal. Instead, domestic welfare is better fostered either by no governme...
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作者：MASKUS, KE; PENUBARTI, M
作者单位：University of California System; University of California Los Angeles
摘要：There is little empirical evidence about whether differing international levels of patent protection influence trade flows. If a nation strengthens its patent laws it could experience higher or lower imports. We specify an empirical model in which deviations of bilateral sectoral imports from anticipated levels are related to income, trade barriers, and patent laws. Patent regulations in the importing country are corrected for endogeneity through the use of instrumental variables. The results ...
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作者：NELSON, D
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作者：FLANDERS, MJ
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作者：GASTON, N; TREFLER, D
作者单位：University of Chicago; Tulane University; University of Toronto
摘要：We develop a model featuring union-firm bargaining, strategic rivalry between the unionized domestic firm and its foreign competitor, and endogenous protection. The model frames a micro-level empirical study of the role of trade and trade policy in union wage determination. The results indicate that (1) trade flows and trade policy influence wages as much as the domestic factors usually considered, (2) imports and tariffs are negatively correlated with wages, and (3) there is little evidence o...
