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In this paper, we analyze the trade war between two large countries when the trade policy is decided through majority … voting. We show how the trade war equilibrium depends on the median voter production factor relative endowment. We compare … this equilibrium to the one analyzed by Johnson where the trade policy is driven by an utilitarian benevolent dictator. …
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The purpose on this paper is twofold. First, we present an alternative model of agglomeration and trade that displays …
Persistent link: https://www.econbiz.de/10005478915
labour markets tend to trade workers adjustment off individual working hours adjustment (Abraham-Houseman (1994)). We analyse …
Persistent link: https://www.econbiz.de/10005478923
In this paper, we apply a collection of parametric (Normal, Normal GARCH, Student GARCH, RiskMetrics and high-frequency duration models) and non-parametric (empirical quantile, extreme distributions models) Value-at-Risk (VaR) techniques to intraday data for three stocks traded on the New York...
Persistent link: https://www.econbiz.de/10005478955
When the asset market is incomplete,there typically exist taxes on trades in assets and a redistribution of revenue in the asset market that are Pareto improving. The policy is anonymous,it economizes on complexity,and it re- sults in ex post Pareto optimal allocations ; it is publicly announced...
Persistent link: https://www.econbiz.de/10005633999
This paper analyses how the way emission permits are traded -their market microstructure- impacts the optimal policy to be adopted by the environmental agency. The microstructure used is one of a quote driven market type, which characterizes many financial markets: market makers act as...
Persistent link: https://www.econbiz.de/10005634018
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