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Bank market power shapes firm investment and financing dynamics and hence affects the transmission of macroeconomic shocks. Motivated by a secular increase in the concentration of the US banking industry, I study bank market power through the lens of a dynamic general equilibrium model with...
Persistent link: https://www.econbiz.de/10013375174
commitments under trade agreements (multilateral and regional agreements) and applied tariffs- what is also known as tariffs … equivalent to a level of tariffs between 1.7 and 8.7 percentage points. …
Persistent link: https://www.econbiz.de/10011280009
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on the rest of the world as it induces entry of high-quality firms, and it improves the terms of trade of the non …
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This paper provides a rough test of a broad and prominent class of political economy of trade models and finds them wanting. The class features governments with weighted social welfare functions, including the prominent model of Grossman and Helpman. Whether the government is the single domestic...
Persistent link: https://www.econbiz.de/10011608734
-generating tariffs. This approach allows us to take account of adjustment dynamics, distributional aspects and the time horizon of policy … makers and workers. In response to a unilateral increase in tariffs aggregate consumption increases only sluggishly so that … policy makers with a short time horizon tend to set lower tariffs. Workers' preferences for tariffs depend on the sector …
Persistent link: https://www.econbiz.de/10011654196
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on, an import-competing commodity in a two-country economy. We treat some plausible situations of industry protection …
Persistent link: https://www.econbiz.de/10013086011
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