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Over the past decade the US has experienced widening current account deficits and a steady deterioration of its net foreign asset position. During the second half of the 1990s, this deterioration was fueled by foreign investment in a booming US stock market. During the first half of the 2000s,...
Persistent link: https://www.econbiz.de/10012467135
In this paper I analyze the relationship between the U.S. dollar and the U.S. current account. I deal with issues of sustainability, and I discuss the mechanics of current account adjustment. The analysis presented in this paper differs from other work in several respects: First, I emphasis the...
Persistent link: https://www.econbiz.de/10012467137
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Using the menu-auction approach to endogenous determination of tariffs and allowing additionally for lobby formation itself to be endogenous, this paper analyzes the impact of unilateral trade liberalization by one country on its partner's trade policies. We find that such unilateral...
Persistent link: https://www.econbiz.de/10012469067
We explore the political economy of trade and labor mobility in a Ricardian world. We combine a Ricardian economy with a simple international political economy model as a basis for the determination of trade and labor mobility policies. We show that free trade can induce partial convergence,...
Persistent link: https://www.econbiz.de/10012457393
We assess the impact of U.S. trade policy uncertainty (TPU) toward China in a tractable general equilibrium framework with heterogeneous firms. We show that increased TPU reduces investment in export entry and technology upgrading, which in turn reduces trade flows and real income for consumers....
Persistent link: https://www.econbiz.de/10012459285
What are the gains from international trade? And how do immigrants influence this process? While economists have considered these questions before, particularly in the context of aggregate trade flows, there has been no work assessing the relation between immigration and international trade in...
Persistent link: https://www.econbiz.de/10012460696
Numerical simulation analysis of bargaining solutions is little developed in existing literature. Here we use a multi country, single period numerical general equilibrium model which captures China and her major trading partners and examine the outcomes of trade policy bargaining solutions...
Persistent link: https://www.econbiz.de/10012460832