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The GATT and Gradualism
Zissimos, Ben; Lockwood, Ben - Econometric Society - 2004
This paper shows how the institutional rules imposed on its signatories by the GATT created a strategic incentive for countries to liberalize gradually. Free trade can never be achieved if punishment for deviation from a trade agreement is limited to a 'withdrawal of equivalent concessions.'...
Persistent link: https://www.econbiz.de/10005702631
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National Security and International Trade
Kang, Heejoon; Fratianni, Michele - Econometric Society - 2004
The September 11, 2001 terrorist attack to the twin towers and ensuing heightened national security measures worldwide, but particularly in the United States, are modeled to be equivalent to a thickening of trade barriers in international trade. By estimating a gravity model with a stochastic...
Persistent link: https://www.econbiz.de/10005342301
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Sustaining Free Trade with Imperfect Private Information about Non-Tariff Barriers
Park, Jee-Hyeong - Econometric Society - 2004
This paper examines the issue of sustaining free trade when countries receive imperfect private information about each other’s non-tariff barriers. Because the countries can misrepresent their private belief about other countries’ protection levels, the punishment scheme to deter...
Persistent link: https://www.econbiz.de/10005342335
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Coalition-Stable Equilibria in Repeated Games
Chung, Anthony Fai-Tong - Econometric Society - 2004
-proof and coalition-proof literature. Intuitively, I require that an equilibrium should not prescribe in any subgame a course of … action that some coalition of players would jointly wish to deviate, given the restriction that every deviation must itself …
Persistent link: https://www.econbiz.de/10005342239
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Achieving Intertemporal Efficiency and Symmetry through Intratemporal Asymmetry: (Eventual) Turn Taking in a Class of Repeated Mixed-Interest Games
Mui, Vai-Lam; Lau, Sau-Him Paul - Econometric Society - 2004
Turn taking is observed in many field and laboratory settings. We study when and how turn taking can be supported as an equilibrium outcome in a class of repeated games, where the stage game is a symmetric two-player mixed-interest game with asymmetric joint-payoff-maximizing outcomes that may...
Persistent link: https://www.econbiz.de/10005702715
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Trade Creation, Trade Diversion, and Endogenous Regionalism
Magee, Christopher S. P. - Econometric Society - 2004
This paper examines whether considerations about trade creation (TC) and diversion enter into the decisions countries make about joining free trade areas. Estimates of trade creation and diversion for each new trade agreement started between 1985 and 1994 are generated by comparing trade flows...
Persistent link: https://www.econbiz.de/10005063695
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Business Cycles and Macroeconomic Policy Coordination in Mercosur
Gonzalez-Rozada, Martin; Fanelli, Jose Maria - Econometric Society - 2004
Abstract: The paper analyzes cyclical comovements in the Mercosur area differentiating idiosyncratic from common shocks. In the Mercosur (or any region for that matter) shocks can be country-specific, affecting only one country or a specific set of countries (for example, a weather-related...
Persistent link: https://www.econbiz.de/10005063563
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Globalization and the Gains from Variety
Weinstein, David; Broda, Christian - Econometric Society - 2004
Since the seminal work of Krugman (1979), product variety has played a central role in models of trade and growth. In spite of the general use of love-of-variety models, there has been no systematic study of how the import of new varieties has contributed to national welfare gains in the United...
Persistent link: https://www.econbiz.de/10005063730
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Coordination, Specialization and Incentives: An Equilibrium Model of Firm Boundaries
Mathewson, Frank; Horstmann, Ignatius J. - Econometric Society - 2004
This paper derives firm boundaries as the outcome of an equilibrium coordination mechanism. The analysis is premised on … perfectly competitive setting, this coordination activity is accomplished via a price mechanism that coordinates the decisions …, other mechanisms are required to achieve efficient coordination. We seek to explain the observation of firms and other …
Persistent link: https://www.econbiz.de/10005328943
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Social Interactions in a Synchronization Game
Paula, Aureo de - Econometric Society - 2004
This paper analyzes and structurally estimates a synchronization game. Agents take part in an activity and benefit from the participation of others. Coordinated actions are fruit of correlated effects as well as endogenous interactions. Standard tools applied in optimal stopping problems for...
Persistent link: https://www.econbiz.de/10005170255