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Causes and Consequences of the Export Enhancement Program for Wheat
Goldberg, Pinelopi; Knetter, Michael M. - 2021
This paper uses regression analysis to study the causes and impacts of the Export Enhancement Program for wheat. We find that the overwhelming causes of the EEP, faltering export markets and swelling government stocks are primarily attributable to the overvaluation of the dollar in the 1980s,...
Persistent link: https://www.econbiz.de/10013246063
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The Uneasy Marriage of Export Incentives and the Income Tax
Desai, Mihir A.; Hines Jr., James R. - 2021
This paper investigates the economic impact of tax incentives for American exports. These incentives include a partial tax exemption for export profits (available by routing exports through Foreign Sales Corporations), and the allocation of some export profits to foreign source income for...
Persistent link: https://www.econbiz.de/10013227032
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Comparative Advantage and Optimal Trade Policy
Costinot, Arnaud - 2013
The theory of comparative advantage is at the core of neoclassical trade theory. Yet we know little about its …
Persistent link: https://www.econbiz.de/10013071911
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Export Subsidies and International Market Share Rivalry
Brander, James A.; Spencer, Barbara J. - 2021
Countries often perceive themselves as being in competition with each other for profitable international markets. In such a world export subsidies can appear as attractive policy tools, from a national point of view, because they improve the relative position of a domestic firm in noncooperative...
Persistent link: https://www.econbiz.de/10013220967
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Free Trade vs. Strategic Trade : A Peek into Pandora'S Box
Grossman, Gene M.; Maggi, Giovanni - 2021
We investigate whether a welfare-maximizing government ought to pursue a program of" strategic trade intervention or instead commit itself to free trade when domestic firms will have an opportunity to manipulate the government's choice of the level of" intervention. Domestic firms may overinvest...
Persistent link: https://www.econbiz.de/10013222625
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Rent-Shifting Export Subsidies with an Imported Intermediate Product
Ishikawa, Jota; Spencer, Barbara J. - 2021
This paper argues that export subsidies aimed at shifting rents from foreign to domestic producers of a final good may also serve to shift rents to foreign firms supplying an intermediate good, weakening the incentive for the subsidy. By contrast, assuming Cournot competition for both the final...
Persistent link: https://www.econbiz.de/10013225571
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Strategic Export Subsidies and Reciprocal Trade Agreements : The Natural Monopoly Case
Bagwell, Kyle; Staiger, Robert W. - 2021
Why do governments seek restrictions on the use of export subsidies through reciprocal trade agreements such as GATT? With existing arguments, it is possible to understand GATT's restrictions on export subsidies as representing an inefficient victory of the interests of exporting governments...
Persistent link: https://www.econbiz.de/10013237015
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Capital Subsidies and Countervailing Duties in Oligopolistic Industries
Spencer, Barbara J. - 2021
Under GATT, countries are allowed to impose countervailing duties to offset foreign subsidies. However GATT rules limit the amount of duty to the amount of the subsidy. This paper examines a generalized model of imperfect competition with capital subsidies and shows the conditions under which a...
Persistent link: https://www.econbiz.de/10013227056
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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
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Global Liquidity Trap
Fujiwara, Ippei - 2011
In this paper we consider a two-country New Open Economy Macroeconomics model, and analyze the optimal monetary policy when countries cooperate in the face of a "global liquidity trap" - i.e., a situation where the two countries are simultaneously caught in liquidity traps. Compared to the...
Persistent link: https://www.econbiz.de/10013128606