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作者：Prusa, TJ
作者单位：Rutgers University System; Rutgers University New Brunswick
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作者：Friberg, R
作者单位：Stockholm School of Economics
摘要：This paper examines the decision to create barriers to arbitrage for a firm selling on two national markets. Real exchange rate changes affect the incentives to create such barriers since they influence the optimal prices. Sunk costs of market segmentation imply that the option to segment markets is more valuable the greater the variability of the real exchange rate. If a monetary union reduces future real exchange rate variability it could thus stimulate market integration. (C) 2001 Elsevier ...
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作者：Kollmann, R
作者单位：University of Bonn
摘要：This paper studies a quantitative dynamic-optimizing business cycle model of a small open economy with staggered price and wage setting. The model exhibits exchange rate overshooting in response to money supply shocks. The predicted variability of the nominal and, especially, of the real exchange rate is noticeably higher than in standard Real Business Cycle models with flexible prices and wages. A positive domestic money supply shock is predicted to lower the domestic interest rate, raise GDP...
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作者：Velenchik, A
作者单位：Wellesley College
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作者：Bayoumi, T
作者单位：International Monetary Fund
摘要：This paper uses a VAR to investigate four possible explanations of the extended slump in Japanese economic activity over the 1990s: the absence of bold and consistent fiscal stimulus; the limited room for expansionary monetary policy due to a liquidity trap; overinvestment and debt overhang; and disruption of financial intermediation. The results indicate that all of these factors played a role, but that the major explanation is disruption in financial intermediation, largely operating through...
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作者：Benarroch, M; Thille, H
作者单位：University of Winnipeg
摘要：We analyze the effects of transboundary pollution on trade and welfare in a general equilibrium model. Production in one industry generates pollution that negatively effects productivity, at home and abroad, in another industry. Trade may lead to the spatial separation of production but does not always lead to efficient patterns of specialization. Transboundary pollution, by breaking the link between the generation and incidence of pollution, can improve the potential for trade to distribute p...
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作者：Norbäck, PJ
作者单位：Research Institute of Industrial Economics (IFN)
摘要：This paper analyzes a three-stage optimization problem in which a firm chooses (i) its technology, by deciding on a level of R&D, (ii) whether this technology is to be used in a domestic or a foreign plant and (iii) the quantity produced and sold on the market. If technology transfer costs are low, 'high-tech' or R&D-intensive firms tend to produce abroad. At higher technology transfer costs, high-tech firms tend to export. An empirical analysis using a data set of Swedish multinational firms,...
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作者：Scheve, KF; Slaughter, MJ
作者单位：Dartmouth College; National Bureau of Economic Research; Yale University
摘要：This article provides new evidence on the determinants of individual trade-policy preferences using individual-level survey data for the United States. There are two main empirical results. First, we find that factor type dominates industry of employment in explaining support for trade barriers. Second, we find that home ownership also matters for individuals' trade-policy preferences. Independent of factor type, home ownership in counties with a manufacturing mix concentrated in comparative-d...
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作者：Ghezzi, P
作者单位：Deutsche Bank
摘要：Inflation persistence is a stylized fact after disinflation. Standard staggered-prices models show very Little or no inflation persistence and, hence, are of little use when inflation is sticky. In this paper, I present a model that, on the one hand, is consistent with the evidence of sticky inflation and, on the other, can be directly incorporated into modem intertemporal optimizing models. The model modifies Calvo's [Calvo, G., 1983a. Staggered contracts and exchange rate policy. In: J.A. Fr...
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作者：Puga, D
作者单位：University of Toronto
