Zhang (2009) shows that endogenous tariffs and endogenous labor income taxes (Schmitt-Grohe and Uribe, 1997) are equivalent in generating local indeterminacy. Using the method developed by Stockman (2009), we extend Zhang's analysis to prove that they are also equivalent in generating global...

Many cities across Europe and Central Asia are experiencing the impacts of climate change, but most have not integrated climate adaptation into their agendas. This paper examines the threats faced and measures that can be taken by cities in the region to protect buildings, heritage sites,...

This paper introduces endogenous capital income tax rates as in Schmitt-Grohe and Uribe (1997), into the overlapping generations model with endogenous labor and consumption in both periods of life (e.g., Cazzavillan and Pintus, 2004). In contrast with the previous result that the existence of...

In this study we examine the contingent relationship between R&D intensity and performance of international joint ventures (IJVs) in an emerging market context. Based on Teece's (1986) arguments regarding the appropriability of innovation, we identify two types of appropriability hazard related...

This paper introduces fiscal increasing returns, through endogenous labor income tax rates as in Schmitt-Grohe and Uribe (1997), into the overlapping generations model with endogenous labor and consumption in both periods of life (for example, Cazzavillan and Pintus (2004)). We show that under...

We use an infinitely repeated prisoner's dilemma model to examine the role of inter-partner credible threat in international joint ventures (IJVs). Inter-partner credible threat refers to the certainty of either partner's retaliation given the other partner's earlier cheating. We argue that...