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Openness, Technology Capital, and Development
McGrattan, Ellen R. - 2010
In this paper, we extend the growth model to include firm-specific technology capital and use it to assess the gains … from opening to foreign direct investment. A firm's technology capital is its unique know-how from investing in research … and development, brands, and organization capital. What distinguishes technology capital from other forms of capital is …
Persistent link: https://www.econbiz.de/10012759771
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Trade Liberalization in a Multinational-Dominated Industry : A Theoretical and Applied General-Equilibrium Analysis
Hunter, Linda - 2010
A theoretical model is developed and applied to the North American auto industry, motivated by the possibility of US-Mexico free trade. Special features of the model include (1) significant scale economies at the plant level, (2) imperfect competition among firms, (3) joint ownership of plants...
Persistent link: https://www.econbiz.de/10013139985
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Trade Reforms and Current Account Imbalances : When Does the General Equilibrium Effect Overturn a Partial Equilibrium Intuition?
Ju, Jiandong - 2012
Permanent shocks such as trade liberalizations are hard to discuss in a standard dynamic Hechscher-Ohlin model due to potential interest rate over-determination. We make three contributions. First, we introduce an endogenous discount factor which solves the problem of interest rate...
Persistent link: https://www.econbiz.de/10013096127
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Some Simple Analytics of Trade and Labor Mobility
Chaudhuri, Shubham - 2007
We study a simple, tractable model of labor adjustment in a trade model that allows us to analyze the economy's dynamic response to trade liberalization. Since it is a neoclassical market-clearing model, we can use duality techniques to study the equilibrium, and despite its simplicity a rich...
Persistent link: https://www.econbiz.de/10012775867
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Numerical General Equilibrium Analysis of China's Impacts from Possible Mega Trade Deals
Li, Chunding - 2014
Korea and India, RCEP will generate the highest welfare outcome …
Persistent link: https://www.econbiz.de/10013048108
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Trade Liberalization in General Equilibrium : Intertemporal and Inter-Industry Effects
Goulder, Lawrence H.; Eichengreen, Barry - 2021
This paper uses a dynamic computable general equilibrium model to simulate the effects of unilateral reductions by the U.S. in tariffs and "voluntary" export restraints (VER's). We consider 50 percent cuts in tariffs and in ad valorem VER equivalents, separately and in combination. The model...
Persistent link: https://www.econbiz.de/10013216870
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Pro-Competitive Effects of Trade Reform : Results from a CGE Model of Cameroon
Devarajan, Shantayanan; Rodrik, Dani - 2021
How likely is trade liberalization to produce efficiency gains in the presence of imperfect competition, scale economies, and higher-than-average wages in the modern sectors -- all common features of developing economies? These features create a potential conflict to the extent that traditional...
Persistent link: https://www.econbiz.de/10013213435
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Evaluating Labour Adjustment Costs from Trade Shocks : Illustrations for the U.S. Economy Using an Applied General Equilibrium Model with Transactions
Clarete, Ramon L.; Trela, Irene; Whalley, John - 2021
This paper presents a general equilibrium approach to calculating labour adjustment costs induced by trade policy changes or external sector shocks, which we illustrate by analyzing the adjustment consequences of eliminating quotas and tariffs on U.S. imports. In our approach, factor adjustments...
Persistent link: https://www.econbiz.de/10013245717
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Discrete Plant-Location Decisions in an Applied General-Equilibrium Model of Trade Liberalization
Markusen, James R.; Rutherford, Thomas F. - 2022
Theoretical and applied work in industrial-organization approaches to international trade typically assume either that there are fixed numbers of firms, or that there is free entry and exit with a continuum of firms. This paper makes a first step toward a more realistic approach in which firms...
Persistent link: https://www.econbiz.de/10013322889
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International Trade with Indirect Additivity
Bertoletti, Paolo - 2016
We develop a general equilibrium model of monopolistic competition and trade based on indirectly additive preferences and heterogenous firms. It generates markups independent from destination population but increasing in destination per capita income, as documented empirically. Trade...
Persistent link: https://www.econbiz.de/10012998951