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How Do Regulators Influence Mortgage Risk? Evidence from an Emerging Market
Campbell, John Y; Ramadorai, Tarun; Ranish, Benjamin - C.E.P.R. Discussion Papers - 2012
To understand the effects of regulation on mortgage risk, it is instructive to track the history of regulatory changes …. However, in developed countries with fairly stable systems of financial regulation, it is difficult to track these effects. We … employ loan-level data on over a million loans disbursed in India over the 1995 to 2010 period to understand how fast …
Persistent link: https://www.econbiz.de/10011083989
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Steepest Ascent Tariff Reforms
Raimondos-Møller, Pascalis; Woodland, Alan D - C.E.P.R. Discussion Papers - 2006
This paper introduces the concept of a steepest ascent tariff reform for a small open economy. By construction, it is locally optimal in that it yields the highest gain in utility of any feasible tariff reform vector of the same length. Accordingly, it provides a convenient benchmark for the...
Persistent link: https://www.econbiz.de/10005662058
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Market Structure in Services and Market Access in Goods
Francois, Joseph; Wooton, Ian - C.E.P.R. Discussion Papers - 2005
We examine interaction between goods trade and market power in domestic trade and distribution sectors. Theory suggests a linkage between service-sector competition and goods trade, one supported by econometrics involving imports of 22 OECD countries vis-à-vis 69 exporters. This points to...
Persistent link: https://www.econbiz.de/10005662166
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Concertina Reforms with International Capital Mobility
Kreickemeier, Udo; Raimondos-Møller, Pascalis - C.E.P.R. Discussion Papers - 2006
We show that the standard concertina result for tariff reforms -- i.e. lowering the highest tariff increases welfare -- no longer holds in general if we allow for international capital mobility. The result can break down if the good whose tariff is lowered is not capital intensive. If the...
Persistent link: https://www.econbiz.de/10005662261
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The Costs of Remoteness: Evidence from German Division and Reunification
Redding, Stephen J.; Sturm, Daniel M - C.E.P.R. Discussion Papers - 2005
This paper exploits the division of Germany after the Second World War and the reunification of East and West Germany in 1990 as a natural experiment to provide evidence of the importance of market access for economic development. In line with a standard new economic geography model, we find...
Persistent link: https://www.econbiz.de/10005666492
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Will the Doha Round Lead to Preference Erosion?
Amiti, Mary; Romalis, John - C.E.P.R. Discussion Papers - 2007
This paper assesses the effects of reducing tariffs under the Doha Round on market access for developing countries. It shows that for many developing countries, actual preferential access is less generous than it appears because of low product coverage or complex rules of origin. Thus lowering...
Persistent link: https://www.econbiz.de/10005666534
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Market Structure, Trade Liberalization, and the GATS
Francois, Joseph; Wooton, Ian - C.E.P.R. Discussion Papers - 2001
-border and establishment) market structure, and regulation. In this context, we focus on the impact of improved domestic market … assumed to be imperfectly competitive and, as a result of domestic regulation, is able to act as a cartel. We also examine the …
Persistent link: https://www.econbiz.de/10005666679
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Trading Market Access for Competition Policy Enforcement
Hoekman, Bernard; Saggi, Kamal - C.E.P.R. Discussion Papers - 2003
Motivated by discussions in the World Trade Organization (WTO) on multilateral disciplines with respect to competition law, we develop a two-country model that explores the incentives of a less-developed country (LDC) to offer increased market access (via a tariff reduction) in exchange for a...
Persistent link: https://www.econbiz.de/10005666806
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The Empirics of New Economic Geography
Redding, Stephen J. - C.E.P.R. Discussion Papers - 2009
Although a rich and extensive body of theoretical research on new economic geography has emerged, empirical research remains comparatively less well developed. This paper reviews the existing empirical literature on the predictions of new economic geography models for the distribution of income...
Persistent link: https://www.econbiz.de/10004991550
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Rules of Origin for Preferential Trading Arrangements: Implications for AFTA of EU and US Regimes
Cadot, Olivier; de Melo, Jaime; Portugal-Pérez, Alberto - C.E.P.R. Discussion Papers - 2006
With FTAs under negotiation between Japan and AFTA members and between Korea and AFTA members, preferential market access will become more important in Asian regionalism. Protectionist pressures will likely rise with Rules of Origin (RoO), the natural outlet for these pressures. Based on the...
Persistent link: https://www.econbiz.de/10005789126