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Tariffs and Sectoral Adjustments in an Open Economy
Turnovsky, Stephen J. - 2021
This paper analyzes the impact of a tariff on sectoral adjustments in an economy which produces two traded consumption goods, one of which is exported, and a non-traded investment good. The importance of sectoral capital intensities is emphasized. In particular, the qualitative dynamic...
Persistent link: https://www.econbiz.de/10013218422
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The Growth and Welfare Consequences of Differential Tariffs with Endogenously-Supplied Capital and Labor
Brock, Philip philiplbrock.com; Turnovsky, Stephen J. - 2021
This paper analyzes the impact of differential tariffs on consumption and investment in a specific factors model of a small open economy in which capital is accumulated over time. Particular attention is devoted to the welfare aspects. highlighting the cost of the intertemporal distortions...
Persistent link: https://www.econbiz.de/10013223069
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Intra-Industry Trade with Bertrand and Cournot Oligopoly : The Role of Endogenous Horizontal Product Differentiation
Brander, James A. - 2015
This paper investigates the effect of endogenous horizontal product differentiation on trade patterns and the gains from trade under Bertrand and Cournot oligopoly. Firms differentiate their products to mitigate competition, but only if the investment required is not too high. Investment in...
Persistent link: https://www.econbiz.de/10013026792
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Endogenous Horizontal Product Differentiation Under Bertrand and Cournot Competition : Revisiting the Bertrand Paradox
Brander, James A. - 2015
This paper provides a new and simple model of endogenous horizontal product differentiation based on a standard demand structure derived from quadratic utility. One objective of the paper is to explain the “empirical Bertrand paradox” – the failure to observe homogeneous product Bertrand...
Persistent link: https://www.econbiz.de/10013027279
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Strategic Information Disclosure : The Case of Multi-Attribute Products with Heterogeneous Consumers
Hotz, V. Joseph; Xiao, Mo - 2021
We examine the incentives for firms to voluntarily disclose otherwise private information about the quality attributes of their products. In particular, we focus on the case of differentiated products with multiple attributes and heterogeneous consumers. We show that there exist certain...
Persistent link: https://www.econbiz.de/10013247290
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Strategic Trade Policy with Endogenous Choice of Quality and Asymmetric Costs
Zhou, Dongsheng; Spencer, Barbara J.; Vertinsky, Ilan - 2021
This paper examines the strategic trade policy incentives for investment policies towards quality improvements in a vertically differentiated exporting industry. Firms first compete in qualities and then export to a third country market based on Bertrand or Cournot competition. Optimal policies...
Persistent link: https://www.econbiz.de/10013248680
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Sticky Prices, Coordination and Collusion
Driscoll, John C.; Ito, Harumi - 2021
New Keynesian models of price setting under monopolistic competition involve two kinds of inefficiency: the price level is too high because firms ignore an aggregate demand externality, and when there are costs of changing prices, price stickiness may be an equilibrium response to changes in...
Persistent link: https://www.econbiz.de/10013249355
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Procompetitive Market Access
Krishna, Kala; Roy, Suddhasatwa; Thursby, Marie C. - 2022
provide two examples to illustrate this point. In the context of a Cournot duopoly, we show that an implementation scheme in …
Persistent link: https://www.econbiz.de/10013313333
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How Did the Dollar Peg Fail in Asia?
Ito, Takatoshi; Ogawa, Eiji; Sasaki, Yuri Nagataki - 2021
Japanese and US firms in their markets. The duopoly model is used to determine export prices and volumes in response to the …
Persistent link: https://www.econbiz.de/10013226986
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Transition to FDI Openness : Reconciling Theory and Evidence
McGrattan, Ellen R. - 2011
conclusive evidence that they are positive, as theory predicts. This paper shows that the lack of empirical evidence is … consistent with theory if countries are in transition to FDI openness. Anticipated welfare gains lead to temporary declines in … reconciliation of theory and evidence is accomplished with a multicountry dynamic general equilibrium model parameterized with data …
Persistent link: https://www.econbiz.de/10013130264