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作者：KLEIN, MW; ROSENGREN, E
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston; Tufts University; National Bureau of Economic Research
摘要：There has been a significant correlation between U.S. inward foreign direct investment and the United States real exchange rate since the 1970s. In this paper we examine the determinants of four measures of inward foreign direct investment to the United States from seven industrial countries over the period 1979-1991. We find strong evidence that relative wealth significantly affects U.S. inward foreign direct investment. We find no evidence that relative wages have a significant impact on the...
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作者：TO, T
摘要：I examine export policy using a two-period model of oligopolistic competition with switching costs. A switching costs model captures the idea that market share in one period affects profits and welfare in future periods. If consumers are impatient, firms and governments are patient, and switching costs are significant, then governments subsidize first-period exports and tax second-period exports, otherwise governments tax exports in both periods. Although governments may subsidize first-period...
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作者：BRANDER, JA; SPENCER, BJ
作者单位：University of British Columbia
摘要：We consider several designs for trade adjustment assistance, focusing first on the efficiency trade-off between deadweight losses from raising revenue and inefficient incentives induced by (some) assistance programs. We also focus on distributional objectives using a conservative social welfare function. We consider programs that are conditional on being unemployed, conditional on being employed, and unconditional. We also consider fixed payment programs and 'tapered' programs offering payment...
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作者：[Anonymous]
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作者：FLAM, H
作者单位：Centre for Economic Policy Research - UK
摘要：Japan has agreed with the EC to put a voluntary export restraint (VER) on cars. Policies in the EC toward foreign direct investment (FDI) by Japanese firms remain under national jurisdiction. The VER benefits producing countries and hurts non-producing countries. FDI reverses these effects. The combination of a VER and FDI is an equilibrium outcome between conflicting countries, and results from uncoordinated EC policies and the strength of producing countries in EC decision-making. It can be ...
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作者：HOFF, K
摘要：This paper presents a model that pinpoints the exact places and reasons that the propositions of the Heckscher-Ohlin-Samuelson model break down under uncertainty. Within the model, if preferences exhibit decreasing absolute risk aversion, (i) a capital-poor country tends to obtain lower revenues from its resources than the same resources would yield in capital-rich countries, (ii) if there is one riskless and one risky sector, a capital-abundant country tends to have a comparative advantage in...
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作者：PARK, D
摘要：This paper investigates the effect of liberalization of capital account transactions on the viability of a fixed exchange regime. Using a finite time horizon model a la Blanchard, the paper demonstrates a case where removal of restrictions on capital outflows alone can cause a balance-of-payments crisis in the absence of any other external shocks. The increased burden of debt service as well as the dynamics of the economy after liberalization are identified as potential sources of reserve outf...
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作者：HUSTED, S
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作者：LEVINE, R
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作者：JENSEN, H
作者单位：Aarhus University; Aarhus University
摘要：I consider an example of a two-country model featuring national heterogeneity, and demonstrate that heterogeneity plays an important role for the countries' gains from international policy cooperation, and - just as important - for the incentives to break the cooperative agreement. I find that national heterogeneity unambiguously reduces trigger strategies' support for policy cooperation. In other words, the more countries differ, the harder it is to sustain policy cooperation.
