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作者：Cavalcanti Ferreira, Pedro; Trejos, Alberto
作者单位：Getulio Vargas Foundation
摘要：We study the macroeconomic effects of international trade policy by integrating a Hecksher-Ohlin trade model into an optimal-growth framework. The model predicts that a more open economy will have higher factor productivity. Furthermore, there is a selective development trap to which countries may or may not converge, depending on policy. Income at the development trap falls as trade barriers increase. Hence, cross-country differences in barriers to trade may help explain the dispersion of per...
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作者：Weder, Mark
作者单位：University of Adelaide
摘要：The article examines the proposition that preference shocks play a central role in our understanding of the Great Depression. I identify a series of unusually large negative shocks that destabilized the U.S. economy during the 1930s. When the artificial economy is paired with variable capital utilization and mildly increasing returns to scale in production, it is able to account for most of the decline in economic activity and it predicts a tepid recovery.
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作者：Antelo, Manel; Bru, Lluis
作者单位：Universidade de Santiago de Compostela; Universitat de les Illes Balears
摘要：We examine the incentives for upstream firms to consolidate horizontally and the impact of this process on industry performance, when there are downstream entry barriers and firms negotiate bilaterally. In the short run, consumers are not worse off with upstream mergers, since consolidation only results in a redistribution of industry rents. In the long run, consumers are better off after upstream mergers, since they induce more entry into that segment. When social welfare is evaluated, a limi...
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作者：Mailath, George J.; Postlewaite, Andrew
作者单位：University of Pennsylvania
摘要：We present a model incorporating both social and economic components and analyze their interaction. The notion of a social asset, an attribute that has value only because of the social institutions governing society, is introduced. In the basic model, agents match on the basis of income and unproductive attributes. An attribute has value in some equilibrium social institutions (matching patterns), but not in others. We then show that productive attributes (such as education) can have their val...
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作者：Tabuchi, Takatoshi; Thisse, Jacques-Francois
作者单位：University of Tokyo; Universite Catholique Louvain; Centre for Economic Policy Research - UK
摘要：We consider an economic geography model of a new genre: All firms and workers are mobile and their agglomeration within a city generates costs through competition on a housing market. In the case of two sectors, contrasted patterns arise. When one good is perfectly mobile, the corresponding industry is partially dispersed whereas the other is agglomerated, thus showing regional specialization. When one sector supplies a nontradeable consumption good, this sector is more agglomerated than the o...
