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作者：SPENCER, BJ; JONES, RW
作者单位：National Bureau of Economic Research; University of Rochester
摘要：We consider home country tariff and subsidy policies in a setting where a home firm is partially dependent on a foreign vertically integrated firm for supplies of a key input. The firms are Cournot competitors in the home market for the final product. We show that a tariff on final product imports may cause the foreign vertically integrated firm to reduce the price charged for the input under circumstances where a simple monopoly supplier of the input would increase its price. Supply condition...
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作者：PRUSA, TJ
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作者：SVENSSON, LEO
作者单位：International Monetary Fund; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：The foreign exchange risk premium in an exchange rate target zone is derived, when the exchange rate is heteroskedastic within the band and there is a separate devaluation risk. The risk premium is then the sum of two separate risk premia, arising from uncertainty about exchange rate movements within the band and from uncertainty about devaluations. Both real and nominal fisk premia are considered. Real and nominal risk premia from movements within the band are very small. Real and nominal ris...
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作者：ANIS, AH; ROSS, TW
作者单位：University of British Columbia; University of Ottawa; Ottawa Hospital Research Institute
摘要：This paper addresses the concern that strategic trade policy will inevitably invite retaliation by presenting examples in which tariffs and export taxes/subsidies can improve the welfare of importing and exporting nations at the same time. We argue that retaliation is less likely in such cases. The conditions required for these results depend upon the relative sizes of the markets in the trading countries, the number of firms in each, and the shape of market demand and cost functions.
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作者：GRILLI, V; ROUBINI, N
作者单位：Yale University; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：We present a two-country extension of Lucas's (1988a) work on cash-in-advance constraints in asset markets. In the model there is temporary separation between the goods and asset markets, and money is used for transactions in both. We first find that the exchange rate level depends on the share of money used for asset transactions; a greater share appreciates the currency. Second, stochastic open market operations increasing the domestic bonds' supply appreciate the domestic currency. Third, t...
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作者：SICSIC, P
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作者：HERANDER, MG
摘要：This paper examines the resource allocation and welfare effects of international trade when a nation is composed of distinct regions and capital is mobile interregionally. The introduction of capital mobility significantly alters the regional consequences of free trade. It is shown, for example, that it is possible that the source of the nation's export expansion is the region that is at a technological disadvantage in the production of the export good. Also, that region whose comparative adva...
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作者：PRUSA, TJ
摘要：The number of antidumping petitions initiated has increased dramatically in recent years. However, only one-third of antidumping cases actually result in dumping duties being levied. Surprisingly, nearly as many antidumping cases are withdrawn or are voluntarily terminated. We present data that show that these withdrawn cases have at least as great an effect on trade as cases which resulted in duties. We discuss legal reasons why such settlements are possible and present a model of the bargain...
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作者：BAYOUMI, T
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作者：BENBASSAT, A; GOTTLIEB, D
摘要：The model focuses on the demand for optimal precautionary reserves for a borrowing country. We combine the standard approach to optimal reserves with a typical country-risk function relating default fisk to macroeconomic variables such as the reserves/imports and the external debt/exports ratios and per capita GNP. Our model also stresses the importance of the potential cost of default as a major determinant. This cost is estimated on the basis of data for 13 countries which have actually defa...
