摘要:

AbstractWe investigate the joint occurrence of international intertemporal trade and international environmental‐permit trade, both of which are subject to country sovereignty. Assuming that side payments cannot be made to keep a debtor country from terminating international environmental cooperation, we analyze the impact of these two trade opportunities on a debtor country's incentive to continue environmental cooperation. We also show how, by way of a suitable strategic linkage between debt and permit trade, the public good of ensuring continued environmental cooperation can be provided by the supply side of private international loan

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00048.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

AbstractThe paper presents a multisectoral CGE model with overlapping generations in which intertemporal optimization by households and firms determines savings and investment under perfect foresight. We calibrate the model to Austrian data and simulate a unilateral tariff liberalization scenario. We find that unilateral tariff reductions are expansionary in the long‐run but involve considerable diversity in sectoral adjustment. Foreign debt increases in the long‐run, causing an improvement in the trade balance. In terms of welfare, some old generations gain at the expense of young and future generations. Budgetary policies are shown to be crucial for several effe

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00049.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

AbstractThe connection between changes in commodity prices and the distribution of income is a question of active interest since the 1941 Stolper‐Samuelson Theorem. In higher dimensions results are obtained only if structure is imposed. Here we assume that each of n‐industries is alike in the shape of the profile (rib) of distributive factor shares with a permutation of factor numbering such that industrynis most intensive in factorn.Such a structure reveals either a strong version of the Stolper Samuelson Theorem or a Neighborhood oscillation pattern depending on the shape of the share r

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00050.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

AbstractEmpirical studies which aim to determine the extent of international currency substitution typically focus on the coefficient associated with the anticipated rate of depreciation of the domestic currency or on the foreign interest rate in the domestic money demand equation. an intertemporal optimizing model is used to obtain a money demand function which shows that the anticipated exchange‐rate change and the foreign interest rate capture an income effect and an intertemporal income or substitution effect. Using these theoretical results, the findings from empirical studies are examined to show circumstances in which international currency substitutability may have been overstated or understate

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00051.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

AbstractUsing a dynamic general‐equilibrium environment with strategically interacting oligopolists, this paper demonstrates that dynamic elements will significantly alter the equilibrium effects of tariff policy. In particular, the tariff rate which maximizes aggregate steady state welfare is decreasing in the level of adjustment costs. Furthermore, when tariff rates change, there are short‐run welfare losses along the dynamic transition path to the new steady state. Gradual implementation of policy can avoid these losses. This provides a justification for the gradual implementation of tariff reductions in the GATT rounds or in the Free Trade Agreement between Canada and the United Sta

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00052.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

AbstractThis paper extends the Brander‐Spencer (1985) model by considering market uncertainty, exploring nonlinear policy, and examining firms' choices of strategic variables. By investigating the interrelationship between trade policy and market conduct, we find that unlike the often‐studied linear policy, a nonlinear policy can influence the domestic firm's choice of strategic variables and hence alter the market conduct in favor of the domestic country. Therefore, a nonlinear policy provesstrictlysuperior to a linear

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00053.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

AbstractTo study the effects of a terms‐of‐trade deterioration the paper constructs a dynamic model with heterogeneous households that maximize intertemporal utility. It shows that insofar as this shock leads to a redistribution of wealth‐an outcome ignored by the literature because of the representative‐agent assumption invariably adopted‐it may give rise to an initial current‐account deficit and nonmonotonic adjustment paths. the paper also buttresses the argument that heterogeneous‐household models help explain the observed “excess smoothness

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00054.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

AbstractThis paper presents an international trade model of vertically related markets with quality differentiation at the stage of the intermediate good. Domestic input producers are at a disadvantage relative to higher quality foreign suppliers in providing inputs to a domestic final‐good producer. the input producer may be driven out of the market unless policies enacted by the domestic government can encourage domestic final‐good firms to use the domestic input. Results show that multiple tariffs and direct production subsidies are the most beneficial policy opti

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00055.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

AbstractThis paper is about a country which has enjoyed a comparative advantage in producing some good(s) and suddenly finds its trading partners increasing their productivity in producing precisely those same goods; e.g., the US with its big lead in many kinds of manufacturing production in the 1950s and 1960s, and the rest of the world catching up in the same kinds of goods in the 1970s and 1980s. This is what the paper means by “convergence.” We show that such convergence results in anabsoluteloss of real income and standard of living for the original “leader”

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00056.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

Book Review in the ArticleTechnology and the Wealth of NationsEdited by Nathan Rosenberg, Ralph Landau, and David C. Mowery

ISSN:0965-7576    

DOI:10.1111/j.1467-9396.1995.tb00057.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY