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Preferential trading arrangements and industrial location
Puga, Diego; Venables, Tony - London School of Economics (LSE) - 1995
This paper considers the location effects of geographically discriminatory trade policy. A preferential move towards a customs union pulls industry into the integrating countries. When internal barriers fall below some critical level, input-output links between imperfectly competitive firms lead...
Persistent link: https://www.econbiz.de/10010745864
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Currency unions in prospect and retrospect
Silva, J.M.C. Santos; Tenreyro, Silvana - London School of Economics (LSE) - 2010
We critically review the recent literature on currency unions, and discuss the methodological challenges posed by the empirical assessment of their costs and benefits. In the process, we provide evidence on the economic effects of the euro. In particular, and in contrast with estimates of the...
Persistent link: https://www.econbiz.de/10010746444
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Pricing of Asian options on interest rates in the CIR model
Dassios, Angelos; Nagaradjasarma, Jayalaxshmi - London School of Economics (LSE) - 2011
probability distribution function. Applications to the valuation of derivatives, including Asian options prices in closed form … others areas of finance, among which stochastic volatility and credit derivatives. …
Persistent link: https://www.econbiz.de/10010746216
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Reforming securities and derivatives trading in the EU: from EMIR to MiFIR
Ferrarini, Guido; Saguato, Paolo - London School of Economics (LSE) - 2013
The financial crisis has generated a deep revision of the regulation of securities and derivatives markets. In this … derivatives markets, while correspondingly reducing the scope of "private" markets (which broadly coincide with the "unregulated … of securities and derivatives trading in Europe. For these purposes, we formulate conjectures that are partly based on …
Persistent link: https://www.econbiz.de/10011126127
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Endogenous industry structure in vertical duopoly
Halonen, Maija - London School of Economics (LSE) - 1994
This paper examines integration decisions of successive duopolists. It is shown that qualitatively the same pattern of … integration emerges whether there is Cournot or Bertrand competition in the input market. The degree of integration in the … the fixed integration cost. There jis a tendency for partial integration when one upstream firm is relatively efficient …
Persistent link: https://www.econbiz.de/10010928628
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Agglomeration in a global economy: a survey
Ottaviano, Gianmarco I. P.; Puga, Diego - London School of Economics (LSE) - 1997
This review of recent contributions reveals common conclusions about the effects of integration on location. For high … trade costs, the need to supply markets locally encourages firms to spread across different regions. Integration weakens the …
Persistent link: https://www.econbiz.de/10010745164
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Automobile replacement: a dynamic structural approach
Schiraldi, Pasquale - London School of Economics (LSE) - 2008
This paper specifies and estimates a structural dynamic model of consumer demand for new and used durable goods. Its primary contribution is to provide an explicit estimation procedure for transaction costs, which are crucial to capturing the dynamic nature of consumer decisions. In particular,...
Persistent link: https://www.econbiz.de/10010746578
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Railroads of the Raj: estimating the impact of transportation infrastructure
Donaldson, Dave - London School of Economics (LSE) - 2010
How large are the benefits of transportation infrastructure projects, and what explains these benefits? To shed new light on these questions, I collect archival data from colonial India and use it to estimate the impact of India's vast railroad network. Guided by six predictions from a general...
Persistent link: https://www.econbiz.de/10011126462
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Inequality, communication and the avoidance of disastrous climate change
Tavoni, Alessandro; Dannenberg, Astrid; Kallis, Giorgos; … - London School of Economics (LSE) - 2011
International efforts to provide global public goods often face the challenges of coordinating national contributions and distributing costs equitably in the face of uncertainty, inequality, and free-riding incentives. In an experimental setting, we distribute endowments unequally among a group...
Persistent link: https://www.econbiz.de/10011071462
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Asymmetric industrial energy prices and international trade
Sato, Misato; Dechezlepretre, Antoine - London School of Economics (LSE) - 2015
This paper measures the response of bilateral trade flows to differences in industrial energy prices across countries. Using a panel for the period 1996-2011 including 42 countries, 62 sectors and covering 60% of global merchandise trade, we estimate the short-run effects of sector-level energy...
Persistent link: https://www.econbiz.de/10011206864