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International Trade and the Environment : A Framework for Analysis
Copeland, Brian R. - 2001
Heckscher-Ohlin-Samuelson factor endowments model. We draw quite heavily from trade theory, but develop a simple pollution …
Persistent link: https://www.econbiz.de/10012470178
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Borders, Trade and Welfare
Anderson, James E. - 2001
International economic integration yields large potential welfare effects, even in a static constant returns competitive world economy. Our method is novel. The effect of border barriers on trade flows is often inferred from gravity models. But their rather atheoretic structure precludes welfare...
Persistent link: https://www.econbiz.de/10012470203
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Centralization, Fiscal Federalism and Private School Attendance
Nechyba, Thomas J. - 2001
This paper uses a computational general equilibrium model to analyze the impact of public school finance regimes on rates of private school attendance. It is shown that, when viewed in such a general equilibrium context, state intervention in locally financed systems can have somewhat unexpected...
Persistent link: https://www.econbiz.de/10012470365
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Agency, Information and Corporate Investment
Stein, Jeremy C. - 2001
work for broader issues in both macroeconomics and the theory of the firm …
Persistent link: https://www.econbiz.de/10012470382
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A Unified Approach to Intra-Industry Trade and Direct Foreign Investment
Markusen, James R. - 2001
into each other. The purpose of this paper is to show how the theory of direct investment can now be integrated with the … theory of international trade in goods, and to show how the two combine to determine the pattern of trade and foreign … affiliate production. Empirical estimation gives good support to the predictions of the theory for intra-industry affiliate …
Persistent link: https://www.econbiz.de/10012470389
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General-Equilibrium Approaches to the Multinational Firm : A Review of Theory and Evidence
Markusen, James R. - 2001
, general-equilibrium theory of international trade. Recent advances indicate how vertical and horizontal multinationals arise … theory. In the second part of the paper, we examine empirical results that relate foreign affiliate production to country …
Persistent link: https://www.econbiz.de/10012470390
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Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design
Ball, Laurence - 2001
This paper examines the optimal allocation of risk in an overlapping-generations economy. It compares the allocation of risk the economy reaches naturally to the allocation that would be reached if generations behind a Rawlsian 'veil of ignorance' could share risk with one another through...
Persistent link: https://www.econbiz.de/10012470454
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Indicator Variables for Optimal Policy under Asymmetric Information
Svensson, Lars E.O. - 2001
The optimal weights on indicators in models with partial information about the state of the economy and forward-looking variables are derived and interpreted, both for equilibria under discretion and under commitment. The private sector is assumed to have information about the state of the...
Persistent link: https://www.econbiz.de/10012470469
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Does Firm-specific Information in Stock Prices Guide Capital Allocation?
Durnev, Artyom - 2001
We show that firms in industries in which firm-specific stock price variation is larger use more external financing and allocate capital with greater precision in the sense that their marginal q ratios are closer to one. According to the Efficient Markets Hypothesis, greater firm-specific stock...
Persistent link: https://www.econbiz.de/10012470636
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An sS Model with Adverse Selection
House, Christopher L. - 2000
We present a model of the market for used cars in which agents face a fixed cost of adjustment, the magnitude of which depend on the degree of adverse selection in the secondary market. We find that, unlike typical models, the sS bands in our model contract as the variance of the shock process...
Persistent link: https://www.econbiz.de/10012470700