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作者：MANSOORIAN, A
摘要：The habit persistence model of Ryder and Heal is used to examine the Harberger-Laursen-Metzler (H-L-M) effect. Our results are in contrast to the general view in the literature that the stability requirements preclude the H-L-M effect in an infinite horizon model. We show that if the marginal utility of real consumption is strongly increasing in the habitual standard of living, then the H-L M effect holds. and a terms of trade deterioration reduces savings. However, if the marginal utility of ...
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作者：MEADE, EE
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作者：YI, KM
摘要：This paper investigates the role of U.S. government purchases in explaining recent U.S. net export behavior. I develop a two-country neoclassical model that emphasizes linkages from government purchases to consumption. I compare the model's implications for the movements and co-movements of net exports against their data counterparts. A parameterization in which government purchases and private consumption are complements and in which expectations of future government purchases are revised dow...
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作者：HEAD, K
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作者：BACKUS, DK
摘要：I examine the relation between the trade balance and the terms of trade in a two-country dynamic stochastic exchange economy with complete markets. Along an equilibrium path for this economy, the relation is governed by the substitutability between foreign and domestic goods. I find, in contrast to non-stochastic analyses of the Harberger-Laursen-Metzler effect, that a positive association does not require persistent shocks or non-constant rates of time preference. This contrast highlights the...
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作者：EICHENGREEN, B
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作者：VANGELDROP, JH; WITHAGEN, CAAM
作者单位：Eindhoven University of Technology
摘要：The pricing of raw materials from an exhaustible resource is predominantly analysed within the context of a partial equilibrium. It is argued here that there are good reasons for a general equilibrium analysis. In this paper we present an international trade model with exhaustible resources and characterize the general equilibrium properties. The general perspective adopted leads to new insights compared with a partial equilibrium approach.
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作者：DICK, AR
作者单位：University of Chicago
摘要：Foreign equity ownership is shown empirically to weaken significantly, and occasionally reverse, common strategic trade policy results. Existing levels of U.S. cross-ownership, for example, reduce the average optimal export subsidy by 47% relative to the Brander and Spencer (Journal of International Economics, 1985, 18, 83-100) value. In industries with particularly high cross-ownership and relatively small imputed labor rents, optimal subsidies fall to less than one-seventh of their former le...
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作者：CANOVA, F; DELLAS, H
作者单位：University System of Maryland; University of Maryland College Park; Brown University; European University Institute
摘要：A stochastic general equilibrium model of the world economy is developed to analyze the contribution of trade interdependence to international business cycles. We test some of the implications of the model using data from ten major industrial countries and a variety of detrending techniques to calculate the cyclical component of output. We find that the significance of trade in the transmission of economic disturbances across countries is not robust to the choice of the detrending method. In g...
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作者：NAKANISHI, N
摘要：We derive necessary-sufficient conditions for the existence of a strictly Pareto-improving tariff reform both with and without changes in international lump-sum transfer of income, in a many-commidity, many-country framework. Then we show that these conditions are equivalent: if a tariff reform with appropriate changes in transfers attains a strict Pareto improvement, then there exists another tariff reform that attains a strict Pareto improvement without such transfers. In the course of this ...
