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Persistent link: https://www.econbiz.de/10005272581
We develop a multi-period market model describing both the process by which traders learn about their ability and how a bias in this learning can create overconfident traders.
Persistent link: https://www.econbiz.de/10005245279
The systems aspects of Austrian economic thought pertaining to the process of competition deserve a prominent place in modern economic thinking. The paper illustrates the differences between the Austrian view of competition as an evolutionary process, and the neoclassical emphasis on determining...
Persistent link: https://www.econbiz.de/10005245375
Empirical work relating trade liberalization and income distribution has identified an important anomaly. The Stolper …-Samuelson theorem predicts that trade liberalization will shift income toward a country's abundant factor. For developing countries …
Persistent link: https://www.econbiz.de/10005245575
Persistent link: https://www.econbiz.de/10005245673
With China's share in global trade increasing rapidly, some argued in 2002-03 that China was exporting deflation to …
Persistent link: https://www.econbiz.de/10005263709
Money and Finance. "Commodity Agreements" concerns international attempts to manage commodity trade. It treats their history … of trade versus manufactures and the instability of their prices. "Cornering the Markets" considers why manipulations …
Persistent link: https://www.econbiz.de/10004985343
Persistent link: https://www.econbiz.de/10005029157
The theoretical literature on trade and foreign direct investment (FDI) indicates that they could be either substitutes … trade and FDI exhibit a complementary relationship. In this paper, we employ a multi-region, multisectoral computable … general equilibrium (CGE) model that incorporates FDI to evaluate the impact of APEC trade and investment liberalization on …
Persistent link: https://www.econbiz.de/10005641375
homogeneity-constrained Almost Ideal Demand System to specify the long-run equilibrium relationships between the shares in total … supplies and total real demand and relative prices and a first-order error correction mechanism in order to describe the …
Persistent link: https://www.econbiz.de/10005660885