approximates Harris' (1954) market-potential function. The estimation results show how far demand linkages extend across space and …

We consider nonparametric identification in models of differentiated products markets, using only market level … models widely used in applied work. We allow for product/market-specific unobservables, endogenous product characteristics (e … marginal costs nonparametrically, allow for unobserved firm heterogeneity, and nest a variety of equilibrium oligopoly models …

autarky to bond market integration and equity market integration. Fi- nancial integration leads to a significant increase in … financial market autarky. Thus, a trade-off emerges between the probability of crises and the severity of crises. Financial …

We examine the interplay between market structure and the form that commodity taxation should take in a general … equilibrium model in which firms produce differentiated products and so are able to exert market power. Our analysis takes account … of two important recent developments that affect market structure and so the appropriate design and effectiveness of …

For three years after the typical emerging economy opens its stock market to inflows of foreign capital, the average …

financial market from international financial shocks. The model also suggests that traditional measures of capital mobility such …

The securitization of fixed-rate mortgages suggests that the FRA/VA market was fully integrated with capital markets by … the early l98Os and that the conventional market moved toward integration during the l98Os. Assuming full integration of … 1981-88 period. The price is then set equal to the new-issue price and, based upon the preferred equation, the perfect-market …

We propose a unified model of limited market integration, asset-price determination, leveraging, and contagion …-cost strategies. The capital allocated to high-leverage strategies may be vulnerable even to small changes in market-access costs …, which can lead to discontinuous price drops, de-leveraging, and portfolio-flow reversals. Moreover, the market is subject to …