Showing 1 - 10 of 12
multilateral cooperation when countries are linked by international trade flows and transboundary pollution. …
Persistent link: https://www.econbiz.de/10005583073
In general in organizations whose system of governance involves weighted majority voting, power and voting weight differ. Power indices are a value concept for majority voting games which provide a means of analyzing this difference. This paper provides new algorithms for computing the two...
Persistent link: https://www.econbiz.de/10005368542
Quantile forecasts are central to risk management decisions because of the widespread use of Value-at-Risk. A quantile forecast is the product of two factors : the model used to forecast volatility, and the method of computing quantiles from the volatility forecasts. In this paper we calculate...
Persistent link: https://www.econbiz.de/10005368622
Trade costs are known to be a major obstacle to international economic integration. Following the approach of New Open … Economy Macroeconomics, this paper explores the effects of international trade costs in a micro-founded general equilibrium … model that also allows for pricing to market. Trade costs are shown to create an endogenous home bias in consumption and …
Persistent link: https://www.econbiz.de/10005146924
The paper presents estimates of a model of the credibility of the U.K. commitment to its central parity against the deutsch mark during the period of ERM membership (1990-92). The measure of credibility used is the long term, interest differential with Germany. Credibility is decomposed into two...
Persistent link: https://www.econbiz.de/10005146928
Not only currencies are assets in investor's portfolio, central banks use them for implementing economic policies. This implies existence of some type of dependence pattern among the currencies. We investigate such patterns among daily Deutsche Mark (DM) (Euro later), UK Sterling (GBP) and the...
Persistent link: https://www.econbiz.de/10011144191
Persistent link: https://www.econbiz.de/10005368739
Persistent link: https://www.econbiz.de/10005146880
conflicts. Trade and democracy are traditionally thought of as goods, both in themselves, and because they reduce the …
Persistent link: https://www.econbiz.de/10005747064
We examine the endogenous formation of trade blocs when markets are characterized by imperfect competition and … simple model of intra-industry trade between three ex-ante symmetric countries, we find that, while 'pure' customs unions … - entailing tariff cooperation only - are stepping stones towards global free trade, 'impure' customs unions - involving the …
Persistent link: https://www.econbiz.de/10005747071