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作者：Engineer, M
作者单位：University of Victoria
摘要：This paper develops a model in which two competing fiat currencies may coexist as media of exchange. Domestic currency has lower transactions costs but a higher growth rate than foreign currency, it is used in everyday transactions and has a higher velocity of circulation in equilibrium. In contrast, foreign currency is hoarded for occasional high consumption shocks. A precautionary transactions demand for foreign currency arises because it is a better store of value. The different endogenous ...
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作者：Konrad, KA
作者单位：Free University of Berlin
摘要：In this paper a new benchmark case for describing international trade is analysed: trade transactions as the outcome of contests between rival exporting firms. Contests between firms trigger non-cooperative strategic trade policies by countries. In the non-cooperative subgame perfect equilibrium, one country subsidizes its domestic firm, the other country chooses an export tax. Both exporting countries are better off than in the equilibrium without strategic trade policy. (C) 2000 Elsevier Sci...
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作者：Sibert, A; Sutherland, A
作者单位：University of London; Birkbeck University London; University of York - UK
摘要：Policy makers' incentives to undertake costly labor market reform depend on the international monetary system. A regime of noncooperative monetary policy is compared with monetary union, We find that noncooperative policy leads to more reform of factors that affect the inflation bias. Which regime leads to more reform of factors affecting labor marker flexibility depends on the size of monetary policy spillovers and the degree of correlation of supply shocks. We show that monetary union produc...
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作者：Goldberg, PK; Knetter, MM
作者单位：Dartmouth College; Dartmouth College; Princeton University; National Bureau of Economic Research
摘要：This paper develops an approach to measuring the intensity of competition in international markets using readily available data on destination-specific values and quantities of exports at the seven-digit industry level. The intensity of competition a group of exporters faces in a particular export market is measured by the residual demand elasticity the group faces. This elasticity is identified by exchange rate shocks which rotate the supply relation of the source-country export group relativ...
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作者：Rogers, JH
作者单位：Federal Reserve System - USA
摘要：Many explanations of real exchange rate movements focus on monetary shocks, but it is often found empirically that monetary shocks are unimportant. I provide contrary evidence. Using over 100 years of data, I estimate the contribution of various shocks to explaining variation in the real pound-dollar rate. Several VAR specifications provide a range for their contributions: from 19 to 60% for monetary shocks and 4 to 26% for fiscal and productivity shocks combined. I compare this to related wor...
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作者：Gao, T
作者单位：University of Michigan System; University of Michigan
摘要：This paper develops a two-country, two-sector monopolistic competition model to illustrate the development of vertical multinational production as a result of the tradeoff between agglomeration economies and factor-cost advantages. In the presence of demand and cost linkages, starting with manufacturing agglomeration, the model shows that in the process of economic integration or economic growth, the importance of factor-cost disadvantages ast the manufacturing center will outweigh the importa...
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作者：Levy, PI
作者单位：Yale University
摘要：This paper develops a theory of tariff protection that incorporates cooperative behavior and lobbying. Governments use import tariffs or subsidies to maximize a weighted sum of lobbying contributions and general welfare. Governments do not use export taxes or subsidies and thus balance the interests of export and import-competing lobbies in setting tariff levels. In a symmetric model, cooperation between governments is sustained by threats of punishment in future periods. Unless governments pl...
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作者：Falvey, R
作者单位：University of Nottingham
摘要：This paper examines the effects of trade liberalization on international disparities in factor real returns in a model with more factors than goods. Existing trade interventions are assumed to be restricting trade. We find that any bias for or against factor price convergence depends on the underlying source of comparative advantage. Where trade is based on differences in factor endowments, trade liberalization has a bias towards factor price convergence. Where trade is based on technology dif...
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作者：Bernhofen, DM
作者单位：Clark University
摘要：We conduct a theory-based empirical study of intraindustry trade in homogeneous products. We derive an oligopolistic model of intra-industry trade, which is an extension of the segmented market model of trade, initially proposed by [Brander, J. A., 1981, Intra-industry trade in identical commodities, Journal of International Economics 11, 1-14]. The empirical implementations of the model are investigated in the contest of the petrochemical industry. Our analysis employs a unique data set conta...
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作者：Gallaway, MP; Blonigen, BA; Flynn, JE
作者单位：University of Oregon
摘要：The antidumping (AD) and countervailing duty (CVD) laws in the United States have become the most pervasive form of import relief sought by domestic producers. This paper estimates the collective economic effect of the hundreds of active U.S. AD/CVD orders. Using a computable general equilibrium model, we estimate that the collective net economic welfare cost in 1993 of these orders to be $4 billion. This welfare estimate is sensitive to various modeling assumptions, which are explored in the ...
