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作者：MELLO, AS; PARSONS, JE; TRIANTIS, AJ
作者单位：Columbia University; Banco de Portugal; Universidade Catolica Portuguesa; Centre for Economic Policy Research - UK; University of Wisconsin System; University of Wisconsin Madison
摘要：We construct a model of a multinational firm with flexibility in sourcing its production and with the ability to use financial markets to hedge exchange rate risk. Agency costs generated by the firm's capital structure create a link between the firm's financial policy and its production decisions. The firm's need for hedging is directly related to the degree of flexibility, and the production plan it chooses is a function of the hedging strategy it employs. Consequently, the firm's ability to ...
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作者：CHOI, JP
作者单位：Columbia University
摘要：We compare the effects of optimal tariffs on the technology choice of exporters under the discriminatory tariffs regime and the 'Most Favored Nation' (MFN) clause. It is shown that a lower marginal cost (MC) technology will be chosen in equilibrium under the MFN clause. As a result, the importing country's long-run welfare increases with the adoption of MFN while in most cases the exporting countries' welfare decreases. However, ex post technology choice, the importing country prefers discrimi...
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作者：FLANDERS, MJ
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作者：GAISFORD, JD
摘要：In a world where capital is internationally mobile, care is required in interpreting data on the factor content of trade. US data for the 1960s seems to suggest that the US should have been abundantly endowed with labour relative to capital in comparison with the world as a whole. Ethier and Svensson's (1986, J. International Economics 20, pp.21-42) work on international factor mobility provides the basis for an interesting re-examination of such Leontief paradoxes. Given that the US exports c...
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作者：BUFFIE, EF
摘要：This paper addresses the question of whether there may be a self-fulfilling aspect to the failure of liberalization attempts when it is widely known the government will abandon the reform if the central bank suffers an unacceptably large loss in reserves. I derive the conditions for both sustained reform and a self-fulfilling failure to be equilibrium outcomes. Under certain well defined conditions, liberalization is most likely to succeed when the capital account is open.
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作者：LEBARON, B
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作者：FLANDERS, MJ
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作者：NEWMAN, JL; LAVY, V; DEVREYER, P
作者单位：Hebrew University of Jerusalem; The World Bank
摘要：This paper deals with the estimation of export supply functions which has been neglected by the literature in favor of the export demand function. Reliable estimates of export supply elasticities are essential for the evaluation of trade policy interventions. The paper estimates short-run export and output price elasticities in Cote d'Ivoire. We attempt to improve on previous approaches by modeling exported goods and goods intended for domestic consumption as imperfect substitutes, incorporati...
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作者：BARTOLINI, L
摘要：This study examines the effects of quantitative restrictions on foreign firms' entry into a domestic industry. Foreign firms' investment policy and the equilibrium value of their entry right are studied under various rationing and rent-extracting schemes. When foreign firms are left free to compete for the scarcity rents induced by a quota, their policy exhibits a suboptimal 'rent run': entry occurs at the optimal pace only until a threshold level of investment is reached; the last group of fi...
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作者：MARK, NC
