Showing 667,161 - 667,170 of 672,974
This paper develops a simple model with credit rationing and endogenous default risk in which the expectation of a bailout may lead to a financial sector which is too large with respect to the the social optimum. The paper concludes with a short discussion of how this model could be used as a...
Persistent link: https://www.econbiz.de/10010316740
Geographical Indications (GIs) for products (Basmati rice, Champagne sparkling wine, Antigua coffee, etc.) were regulated at the international level in 1995 (WTO TRIPS Agreement, Part II, Section 3). This paper sets a general framework of analysis for GI-labeled goods, based on the modeling of a...
Persistent link: https://www.econbiz.de/10010316747
There has been a long debate about whether speculators are stabilizing or not. We consider a model where speculators have a stabilizing role in normal times, but may also provoke large risk panics. The very feature that makes arbitrageurs liquidity providers in normal times, namely their...
Persistent link: https://www.econbiz.de/10010316750
This paper constitutes an attempt to reframe and eventually deflate the ongoing 'compliance-vs.-rebalancing' debate which has permeated WTO scholarship for the last 10 years. Our main criticism concerns the substance of the entire debate. We find that scholars on both sides of the...
Persistent link: https://www.econbiz.de/10010316752
This paper focuses on the observed empirical relationship between fiscal rules and budget deficits, and examines whether this correlation is driven by an omitted variable, namely voter preferences. We make use of two different estimation methods to capture voter preferences in a panel of Swiss...
Persistent link: https://www.econbiz.de/10010316757
This paper develops a macroeconomic framework where the representative bank is owned by inside and outside owners and copes with capital requirements that vary countercyclically. The issuance of outside equity is characterized getting insights from the literature on corporate governance,...
Persistent link: https://www.econbiz.de/10010316758
This paper examines how attractive investment opportunities available to temporary migrants in their country of origin affect their saving behavior and the optimal duration of stay abroad. The model predicts an inverse U-shaped relationship between migration duration and the expected rate of...
Persistent link: https://www.econbiz.de/10010316762
This paper develops an open economy firm-heterogeneous model where the combination of market rigidities and exchange rate uncertainty acts like a barrier to trade and modifies a firm's optimal choice in terms of production and pricing. The existence of price and labor rigidities, coupled with...
Persistent link: https://www.econbiz.de/10010316775
This paper is a contribution to the literature on rational design of trade agreements. The World Trade Organization (WTO) is an incomplete contract among sovereign states. Incomplete contracts contain gaps. Ex post, contractual gaps may leave gains from trade unrealized; they may create 'regret'...
Persistent link: https://www.econbiz.de/10010316780
scenarios for Foreign firms: perfect/oligopolistic competition. Only the equilibrium at Home is analyzed. Although a loss in … Home countries, where the opposite is true. With oligopolistic competition, GI firms become from differentiated from their …, contrary to the conventional wisdom, oligopolistic competition by Foreign firms leads to less stringent conditions for Home GI …
Persistent link: https://www.econbiz.de/10010316793