This paper shows (1) that the Spence-Dixit-Vives model of linear demand for differentiated varieties is implied if supplies of substitutes reduce individual consumers' reservation prices as indicated in the paper, (2) that for the micro-foundation-based version SDV demand and endogenous sunk...

The welfare cost of anticipated inflation is quantified in a calibrated model of the U.S. economy that exhibits tractable equilibrium dispersion in wealth and earnings. Inflation does not generate large losses in societal welfare, yet its impact varies noticeably across segments of society...

Miller (1993) presented an instrument for measuring managers' perceptions of the environmental uncertainties relevant to international business. Application of this instrument by Werner, Brouthers, and Brouthers (1996), led them to suggest an alternative measurement instrument. This study...

We offer a model inwhich lenders differ in wealth endowments and choose the quality of information which they use in the process of foreign lending. We trace the effects of foreign and domestic interest rates, quality of information, quality of the pool of lending opportunities, etc. on the...

This paper tests generalizations across four countries of an industrial marketing model applied to foreign exchange services which banks sell to large corporations. The process by which customers elicit bids from the marketplace, evaluate suppliers, and award business is used in a two-step...

The earthquake that struck the Japanese port city of Kobe on January 17, 1995, was the most severe quake ever to strike a modern urban area. It has become the most studied, analyzed, and discussed natural disaster in history. What I propose to add to this dialogue is an economist's overview of...

The hypothesis of this paper is that uncertain money growth leads to an increased yield spread between short term and long term interest rates. Since current inflation is obviously the same at any given time, the change in the term structure can be explained, in part, by the greater degree of...

This paper studies public good provision in the laboratory using the voluntary contribution mechanism, in a cross-cultural experiment conducted in the United States and Japan. Our environment differs from the standard voluntary contribution mechanism because in one treatment, subjects first...

This paper relates the postdisplacement experience of individuals to changes in the competitive position of the industry, vis a vis the rest of the world, from which the individual was displaced. The focus on the duration of unemployment spells and the change in wages accompanying displacement.