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作者：FEENSTRA, RC; LEWIS, TR
作者单位：National Bureau of Economic Research; State University System of Florida; University of Florida; Hebrew University of Jerusalem
摘要：In a model where all factors of production are imperfectly mobile, we argue that the Dixit-Norman scheme of commodity taxes may not lead to strict Pareto gains from trade. Rather, this scheme must be augmented by policies that give factors an incentive to move between industries: hence, the role for trade adjustment assistance. By offering an adjustment subsidy to all individuals willing to move, and also using the Dixit-Norman pattern of commodity taxes, the government can implement Pareto ga...
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作者：KLEIN, MW; ROSENGREN, E
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston; Tufts University; National Bureau of Economic Research
摘要：There has been a significant correlation between U.S. inward foreign direct investment and the United States real exchange rate since the 1970s. In this paper we examine the determinants of four measures of inward foreign direct investment to the United States from seven industrial countries over the period 1979-1991. We find strong evidence that relative wealth significantly affects U.S. inward foreign direct investment. We find no evidence that relative wages have a significant impact on the...
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作者：BRANDER, JA; SPENCER, BJ
作者单位：University of British Columbia
摘要：We consider several designs for trade adjustment assistance, focusing first on the efficiency trade-off between deadweight losses from raising revenue and inefficient incentives induced by (some) assistance programs. We also focus on distributional objectives using a conservative social welfare function. We consider programs that are conditional on being unemployed, conditional on being employed, and unconditional. We also consider fixed payment programs and 'tapered' programs offering payment...
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作者：[Anonymous]
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作者：HUSTED, S
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作者：LEVINE, R
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作者：JENSEN, H
作者单位：Aarhus University; Aarhus University
摘要：I consider an example of a two-country model featuring national heterogeneity, and demonstrate that heterogeneity plays an important role for the countries' gains from international policy cooperation, and - just as important - for the incentives to break the cooperative agreement. I find that national heterogeneity unambiguously reduces trigger strategies' support for policy cooperation. In other words, the more countries differ, the harder it is to sustain policy cooperation.
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作者：POPPER, H
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作者：NEARY, JP
作者单位：Ulster University
摘要：I consider the optimality of export subsidies in oligopolistic markets, when home and foreign firms have different costs and the social cost of public funds exceeds unity. Subsidies are optimal only for surprisingly low values of the social cost of public funds and, if subsidies are justified, they should be higher the more cost competitive are domestic firms. These results hold under both Cournot and Bertrand competition and in a two-period perfect equilibrium with learning by doing. The resu...
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作者：BOLLERSLEV, T; MELVIN, M
作者单位：Arizona State University; Arizona State University-Tempe; Northwestern University
摘要：Consistent with the implications from a simple asymmetric information model for the bid-ask spread, we present empirical evidence that the size or the bid-ask spread in the foreign exchange market is positively related to the underlying exchange rate uncertainty. The estimation results are based on an ordered probit analysis that captures the discreteness in the spread distribution, with the uncertainty of the spot exchange rate being quantified through a GARCH type model. The data sets consis...
