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Innovation, Competition and Welfare-Enhancing Monopoly

Darby, Michael R. - 2011

The basic competitive model with freely available technology is suited for static industries but misleading as applied to major innovative economies for which development of new technologies equals in magnitude around 10% of gross domestic investment. We distinguish free generic technology from...

Persistent link: https://www.econbiz.de/10012757081

Tariff Reductions, Entry, and Welfare : Theory and Evidence for the Last Two Decades

Caliendo, Lorenzo - 2015

We show in a multi-sector, heterogeneous-firm trade model that the effect of tariffs on entry, especially in the presence of production linkages, can reverse the traditional positive optimal tariff argument. We then use a new tariff dataset, and apply it to a 189-country, 15-sector version of...

Persistent link: https://www.econbiz.de/10013010722

An Information-Based Model of Foreign Direct Investment : the Gains from Trade Revisited

Razin, Assaf; Sadka, Efraim; Yuen, Chi-Wa - 2021

Foreign direct investment (FDI) is observed to be a predominant form of capital flows to emerging economies, especially when they are liquidity-constrained internationally during a global financial crisis. The financial aspects of FDI are the focus of the paper. We analyze the problem of...

Persistent link: https://www.econbiz.de/10013231578

Trade, Diffusion and the Gains from Openness

Rodríguez-Clare, Andrés - 2012

Building on Eaton and Kortum's (2002) model of Ricardian trade, Alvarez and Lucas (2005) calculate that a small country representing 1% of the world's GDP experiences a gain of 41% as it goes from autarky to frictionless trade with the rest of the world. But the gains from openness, which...

Persistent link: https://www.econbiz.de/10012755278

Measureable Dynamic Gains from Trade

Baldwin, Richard E. - 2021

Productive factors such as human and physical capital are accumulated and trade can affect the steady-state levels of such factors. Consequently, trade liberalization will have dynamic effects on output and welfare as the economy moves to its new steady state, in addition to its usual static...

Persistent link: https://www.econbiz.de/10013248258

Globalization, Inequality and Welfare

Antras, Pol - 2016

This paper studies the welfare implications of trade opening in a world in which trade raises aggregate income but also increases income inequality, and in which redistribution needs to occur via a distortionary income tax-transfer system. We provide tools to characterize and quantify the...

Persistent link: https://www.econbiz.de/10012982518

Measured Aggregate Gains from International Trade

Burstein, Ariel T. - 2012

Do theoretical welfare gains from trade translate into aggregate measures of economic activity? We calculate the changes in real GDP and real consumption that result from changes in trade costs in a range of workhorse trade models, following the procedures outlined by statistical agencies in the...

Persistent link: https://www.econbiz.de/10013111831

Strategic Trade, Competitive Industries and Agricultural Trade Disputes

Bagwell, Kyle; Staiger, Robert W. - 2021

The primary predictions of strategic-trade theory are not restricted to imperfectly-competitive markets. Indeed, these … predictions emerge in a natural three-country extension of the traditional theory of trade policy in competitive markets, once the … theory is augmented to allow for politically-motivated governments, so that the sign of export policy may be converted from …

Persistent link: https://www.econbiz.de/10013227741

Investing Retirement Wealth : a Life-Cycle Model

Campbell, John Y. - 2010

If household portfolios are constrained by borrowing and short-sales restrictions asset markets, then alternative retirement savings systems may affect household welfare by relaxing these constraints. This paper uses a calibrated partial-equilibrium model of optimal life-cycle portfolio choice...

Persistent link: https://www.econbiz.de/10012763806

Exporters and Shocks : Dissecting the International Elasticity Puzzle

Fitzgerald, Doireann - 2014

We use micro data for Ireland to estimate how export participation and the export revenue of incumbent exporters respond to tariffs and real exchange rates. Both participation and revenue, but especially revenue, are more responsive to tariffs than to real exchange rates. Our estimates translate...

Persistent link: https://www.econbiz.de/10013056867

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