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作者：TAYLOR, MS
摘要：A model of endogenous growth and trade is developed that extends the continuum Ricardian model of Dornbusch et al. (1977) to a dynamic framework, generalizes the 'quality ladders' approach of Grossman and Helpman (1991a, b), and complements the work of Krugman (1987) on dynamic Ricardian economies. In contrast to earlier work the model incorporates heterogeneity across industries in research and production technologies, and in the technological opportunity for innovation. The importance of het...
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作者：HARRIGAN, J
摘要：This paper uses a monopolistic competition model and 1983 cross-country data on trade barriers, trade flows, and manufacturing production to estimate the import-reducing effects of trade barriers. Data on non-tariff barriers come from UNCTAD, and data on tariffs and estimated transport costs are also used. While there is great heterogeneity across industries, the general conclusion is that in 1983 tariffs and transport costs were a more substantial barrier to trade in manufactures between deve...
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作者：HSIEH, DA
摘要：This paper uses currency futures prices to test the joint null hypotheses of rational expectations and absence of a time-varying risk premium in the foreign exchange market. We find no linear predictability in the logarithm of futures price changes, either using its own past or past interest differentials. Also we establish that there is no non-linear predictability in log price changes, conditioning on its own past, or past interest rate differentials. Thus, if a time-varying risk premium exi...
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作者：DELGADO, F; DUMAS, B
作者单位：University of Pennsylvania; National Bureau of Economic Research; Duke University
摘要：An exchange-rate system is a contract which commits central banks to intervene in the foreign-exchange market. The design features of the system include: the rules of intervention, the limits placed on exchange rates and the 'crisis scenario' describing possible transitions to new regimes. This paper considers the various trade-offs one faces in designing an exchange-rate system. One of these pertains to the amount of reserves which the central banks must have on hand in order to forestall a s...
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作者：LEVINSOHN, JA
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作者：MENDEZ, JA
摘要：This paper develops new estimates of the welfare and domestic production effects of repealing the US Offshore Assembly Provision (OAP). Although the controversy surrounding the OAP has recently intensified, the only other such estimates of repealing the OAP were developed by Finger (1976). The estimates are developed by applying a partial equilibrium trade model of a two-stage production process to nineteen product categories in which OAP trade was important in 1986. The paper finds that repea...
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作者：COHEN, D
摘要：This paper gives a valuation formula for LDC debt which is used to assess: (1) the price at which a buy-back of the debt is advantageous to the country; (2) the value to the creditors of having the flows of payment guaranteed against the extrinsic stochastic disturbances faced by the country; and (3) the trade-off between growth of payments and levels of payments. We finally offer an assessment of the Mexican agreement reached early in 1990.
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作者：BACKUS, DK; SMITH, GW
作者单位：Queens University - Canada; New York University
摘要：We examine the possibility that non-traded goods may account for several striking features of international macroeconomic data: large, persistent deviations from purchasing power parity, small correlations of aggregate consumption fluctuations across countries, and substantial international real interest rate differentials. A dynamic, exchange economy is used to show that non-traded goods in principle can account for each of these phenomena. In the theory there is a close relation between fluc...
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作者：MULLIN, JJ
摘要：This paper demonstrates that, under dual exchange markets, explicit tariffs-cum-subsidies on merchandise transactions raise the spread between the parallel and official exchange rates and, thereby, create implicit tariffs-cum-subsidies on capital account transactions. This implies that merchandise tariffs-cum-subsidies assume more of the properties of official exchange rate devaluations under dual exchange markets than under unified exchange markets. The two policies are equivalent when there ...
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作者：KOHLI, U
作者单位：University of Colorado System; University of Colorado Boulder
摘要：This paper reports empirical estimates of one of the most popular models of international trade theory, the specific-factors model. Two outputs - consumption goods and investment goods - and two factors - labor and capital - are considered. Labor is assumed to be mobile between sectors, while capital is assumed to be sector specific. Assuming that the relative supplies of the two types of capital are constant through time, the model can be estimated with aggregate data even though the sector-s...
