-
作者：Karp, L; Paul, T
作者单位：University of California System; University of California Berkeley; Communaute Universite Grenoble Alpes; Universite Grenoble Alpes (UGA)
摘要：We analyze a model in which a government uses a second best policy to affect the reallocation of labor, following a change in relative prices. We consider two extreme cases, in which the government has either unlimited or negligible ability to commit to future actions. We discuss the factors that determine the importance of commitment ability and provide numerical examples. The degree of commitment ability can alter the equilibrium policy both quantitatively and qualitatively. In both extreme ...
-
作者：Rose, AK
-
作者：Harrigan, J
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
-
作者：Markusen, JR; Venables, AJ
作者单位：National Bureau of Economic Research; University of Colorado System; University of Colorado Boulder; Center for Economic & Policy Research (CEPR); University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
摘要：A model is constructed in which multinational firms arise endogenously. Multinationals are more important in total activity when countries are similar in incomes (size) and in relative factor endowments, and when total world income is high. These predictions are consistent with empirical evidence, and our results help point to more formal tests. The standard oligopoly model of international trade is a special case of our model when multinationals are suppressed, and this allows us to provide a...
-
作者：Sorensen, BE; Yosha, O
作者单位：Tel Aviv University; Brown University
摘要：We explore income and consumption smoothing patterns among European Community (EC) countries and among OECD countries during the period 1966-90. We find that, for OECD as well as for EC countries, about 40 percent of shocks to GDP are smoothed at the one year frequency, with about half the smoothing achieved through national government budget deficits and half by corporate saving. At the three year differencing frequency only 25 percent of shocks to GDP are smoothed, mainly via government lend...
-
作者：Aggarwal, R
作者单位：Dartmouth College
-
作者：Janeba, E
作者单位：Indiana University System; Indiana University Bloomington
摘要：The literature on strategic trade policy has shown that in imperfectly competitive markets governments have an incentive to subsidize exports of their own firms. Yet the consequence of the departure from laissez-faire is a wasteful subsidy race. In contrast, this paper shows that even in imperfectly competitive markets there is a strong tendency for laissez-faire to prevail. The driving force is the firms' willingness to exploit tax or subsidy differentials by relocating production. A small ta...
-
作者：Bac, M; Raff, H
作者单位：Indiana University System; Indiana University Bloomington
摘要：We present a model of tariff disputes and concessions consisting of an infinitely repeated game under bilateral incomplete information. Given potential agreements to be reached through unilateral or reciprocal concessions, we find that an agreement involving reciprocal concessions is reached immediately if the discount factor is large and/or the volume of trade is small. Otherwise prior beliefs about country type matter: when both countries hold pessimistic priors, immediate reciprocal concess...
-
作者：Goldberg, LS; Karimov, I
作者单位：National Bureau of Economic Research; International Institute for Applied Systems Analysis (IIASA)
摘要：In emerging market economies, under-development of financial markets leads to goods hoarding and foreign currency accumulation as forms of investment. In this paper an asset market model, supplemented by explicit treatment of smuggling and second-economy activity, is used to study the paths of black-market exchange rates, second-economy prices, hoarding stocks, and privately held dollar balances following policy reforms. We discuss conditions for overshooting and related dynamics of exchange r...
-
作者：Ishikawa, J; Lee, KD
作者单位：Keimyung University
摘要：This paper examines the effects on the domestic economy of domestic tariffs imposed on an intermediate good or a final good in vertically related markets which are characterized by Cournot oligopolies. Tariffs could lead a foreign firm to enter or exit from the domestic final-good market. Some of our results are counter-intuitive. It is particularly shown that tariffs on the intermediate good which induce the entry could harm domestic intermediate-good producers and/or benefit domestic final-g...
