Exchange risk hedging in a static (i.e. one-period) setting is extremely straightforward. The variance-minimizing hedge of a particular future cash flow involves a forward contract equal but opposite in sign to the exposure of the cash flow. The exposure is the regression coefficient of the cash...

This paper derives the impact of market integration on equilibrium firm size and market concentration in horizontally differentiated industries. We show that market concentration (measured by the number of firms) can rise as a consequence of market integration if firms engage in R&D competition....

This paper presents a tractable formalization and an empirical investigation of the quality-complementarity hypothesis, the hypothesis that input quality and plant productivity are complementary in generating output quality. We embed this complementarity in a general-equilibrium trade model with...

This paper derives the impact of market integration on equilibrium firm size and market concentration in horizontally differentiated industries. We show that market concentration (measured by the number of firms) can rise as a consequence of market integration if firms engage in R&D competition....

Despite a well-developed literature on implications of multimarket contact among firms for performance in domestic markets, only recently has theoretical and empirical work turned to similar issues in international trade. In this paper, I consider the possibility that exporters meeting rivals in...

The success of Danish agricultural exports at the end of the nineteenth century is often attributed to the establishment of a direct trade with Britain. Previously, exports went mostly via Hamburg, but this changed with the loss of Schleswig and Holstein to Prussia in the war of 1864. After...

<titre traitementparticulier="non">Abstract</titre> When do exports lead to rents? And when are they shared with employees? This paper proposes a double empirical test that deals with this question, based on a mix of rent sharing theories and Cournot Oligopoly. We find that most of the OECD exporting activities are associated with some...

This paper examines the extent to which the destination of exports matters for the input prices paid by firms, using detailed customs and firm-product-level data from Portugal. We use exchange-rate movements as a source of variation in export destinations and find that exporting to richer...

Recent years have witnessed an enormous amount of reorganization of the corporate sector in the US and in Europe. This paper examines the role of market competition for this trend in corporate reorganization. We find that at intermediate levels of competition the CEO of the corporation decides...

Regulatory authorities face the challenge to strike a fair balance between the interests of consumers to ensure the safety of innovative foods and agricultural products and the interest of innovative businesses.Worldwide prior authorization schemes are applied. This contribution explores...