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Estimates of Bilateral Trade Elasticities and Their Implications for the Modelling of `1992'

Brenton, Paul; Winters, L. Alan - C.E.P.R. Discussion Papers - 1992

In this paper we use detailed trade and production data and a theoretically consistent model of demand - the Almost Ideal Demand System - to estimate bilateral trade elasticities, the key parameters required for quantification of the effects of the `1992' programme. Initial results for 70 West...

Persistent link: https://www.econbiz.de/10005123957

A Theory of Regular Markov Perfect Equilibria in Dynamic Stochastic Games: Genericity, Stability, and Purification

Doraszelski, Ulrich; Escobar, Juan - C.E.P.R. Discussion Papers - 2008

This paper develops a theory of regular Markov perfect equilibria in dynamic stochastic games. We show that almost all …

Persistent link: https://www.econbiz.de/10005497794

When are Supply and Demand Determined Recursively Rather than Simultaneously? Another look at the Fulton Fish Market Data

Graddy, Kathryn; Kennedy, Peter E - C.E.P.R. Discussion Papers - 2007

(OLS) is the recommended estimation procedure. Supply to a daily fish market is determined by the previous night’s catch …

Persistent link: https://www.econbiz.de/10005504667

The Estimation of Linear Models with Future Rational Expectations by Efficient and Instrumental Variable Methods

Wickens, Michael R. - C.E.P.R. Discussion Papers - 1986

This paper considers the estimation of a number of commonly used single-equation linear models, all of which have … proposed in each case. The choice of estimation method is usually represented as a trade-off between efficiency on the one hand … of an efficient estimation method depends on whether or not the model has a unique solution and often this will not be …

Persistent link: https://www.econbiz.de/10005656310

Offshore Financial Centres: Parasites or Symbionts?

Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2005

This paper analyses the causes and consequences of offshore financial centers (OFCs). Since OFCs are likely to be tax havens and money launderers, they encourage bad behaviour in source countries. Nevertheless, OFCs may also have unintended positive consequences for their neighbours, since they...

Persistent link: https://www.econbiz.de/10005114144

Non-Economic Engagement and International Exchange: The Case of Environmental Treaties

Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2006

We examine the role of non-economic partnerships in promoting international economic exchange. Since far-sighted countries are more willing to join costly international partnerships such as environmental treaties, environmental engagement tends to encourage international lending. Countries with...

Persistent link: https://www.econbiz.de/10005666580

A Gravity Model of International Lending: Trade, Default and Credit

Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2002

One reason why countries service their external debts is the fear that default might lead to shrinkage of international trade. If so, then creditors should systematically lend more to countries with which they share closer trade links. We develop a simple theoretical model to capture this...

Persistent link: https://www.econbiz.de/10005789181