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作者：KRUEGER, AO
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作者：KASHYAP, AK
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作者：THOMPSON, AJ
作者单位：University of Toronto
摘要：The Canada-United States Free Trade Agreement (FTA) provides an excellent opportunity to analyze the impact of a comprehensive trade liberalization- In this paper, a stock market event study is employed to capture investors' expectations about the consequences of this agreement for manufacturing firms in Canada. The primary question addressed is whether abnormal stock market returns corresponding to news about the FTA are consistent with hypotheses based on comparative advantage and economies ...
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作者：KENEN, PB
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作者：BAGWELL, K; STAIGER, RW
作者单位：Northwestern University; National Bureau of Economic Research
摘要：We evaluate the case for R&D subsidies in export sectors when the outcome of R&D is uncertain and the product market is oligopolistic. When R&D reduces expected costs in the particular sense of first-order stochastic dominance, a national strategic basis for R&D subsidies exists, whether firms choose prices or quantities. This must be balanced against a corrective incentive to tax R&D whenever the number of domestic firms exceeds one. However, when R&D increases the riskiness of the cost distr...
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作者：TO, T
摘要：I examine export policy using a two-period model of oligopolistic competition with switching costs. A switching costs model captures the idea that market share in one period affects profits and welfare in future periods. If consumers are impatient, firms and governments are patient, and switching costs are significant, then governments subsidize first-period exports and tax second-period exports, otherwise governments tax exports in both periods. Although governments may subsidize first-period...
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作者：FLAM, H
作者单位：Centre for Economic Policy Research - UK
摘要：Japan has agreed with the EC to put a voluntary export restraint (VER) on cars. Policies in the EC toward foreign direct investment (FDI) by Japanese firms remain under national jurisdiction. The VER benefits producing countries and hurts non-producing countries. FDI reverses these effects. The combination of a VER and FDI is an equilibrium outcome between conflicting countries, and results from uncoordinated EC policies and the strength of producing countries in EC decision-making. It can be ...
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作者：HOFF, K
摘要：This paper presents a model that pinpoints the exact places and reasons that the propositions of the Heckscher-Ohlin-Samuelson model break down under uncertainty. Within the model, if preferences exhibit decreasing absolute risk aversion, (i) a capital-poor country tends to obtain lower revenues from its resources than the same resources would yield in capital-rich countries, (ii) if there is one riskless and one risky sector, a capital-abundant country tends to have a comparative advantage in...
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作者：PARK, D
摘要：This paper investigates the effect of liberalization of capital account transactions on the viability of a fixed exchange regime. Using a finite time horizon model a la Blanchard, the paper demonstrates a case where removal of restrictions on capital outflows alone can cause a balance-of-payments crisis in the absence of any other external shocks. The increased burden of debt service as well as the dynamics of the economy after liberalization are identified as potential sources of reserve outf...
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作者：KARAYALCIN, C
摘要：This paper studies the effects of supply and demand shocks on the optimal investment and savings decisions of economic agents in a small open economy. The two building blocks of the setup are adjustment costs in investment and a recursive time preference structure. It is shown that the model can mimic certain stylized facts.
