Suchergebnisse

This dissertation is composed of three self-contained chapters on international trade and economic development, with a special focus on the involvement of the government or public-funded sectors. The first chapter investigates international trade of higher education, specifically its impact on native students and native workers in the exporting country. Theoretically, I show that, in a general equilibrium model with non-profit publicly- subsidized higher education providers (HEPs) that care about both education quality and the enrollment of native students, serving foreign students may improve natives' access to higher education, which eventually benefits all native workers. Empirically, I find that, during the period 2001 to 2007, the enrollment of one more foreign student in an Australian university leads to the enrollment of around 0.75 more native students in this university. The impact is identified using an instrumental variable, generated from the interaction between demand for Australian higher education from different countries during the sample period and student networks these countries had in different Australian HEPs during 1989 to 1994. The second chapter studies commercial development in the presence of economic agglomeration of commercial goods and services, a result of consumers' love of varieties and transportation costs associated with commercial consumption. I show that a low-income community may be under-served with commercial goods and services because a developer cannot capture all the profits of a commercial project. A block grant to a developer can solve the market failure and generate a total profit bigger than the grant. Employment tax abatements alone are much less effective and much more costly. The third chapter examines the long- run impact of trade in higher education. In an overlapping generation (OG) model with a higher education sector composed of non-profit research institutions and for- profit teaching institutions, I show that importing teaching services benefits low-ability individuals by increased number of research workers in production, and that it may also benefit high-ability individuals by providing better training to skilled workers to complement research workers

The COVID-19 pandemic has witnessed highly successful efforts to produce effective vaccines and treatments at an unprecedented pace. This perspective discusses factors that made this possible, from long-term investments in research infrastructure to major government interventions that absorbed much of the risk from research and development. We discuss key economic obstacles in the discovery of new drugs for infectious diseases, from novel antibiotics to diseases that primarily affect the poor. The world's collective experience of the pandemic may present an opportunity to reform traditional economic models of drug discovery to better address unmet needs. A tax-funded global institution could provide incentives for drug discovery based on their global health impact. International co-operation would be needed to agree and commit to adequate funding mechanisms, and the necessary political will would require strong public support. With the current heightened appreciation of the need for global health system resilience, there may be no better opportunity than now.

Cover -- Half Title -- Title -- Copyright -- Contents -- List of Tables -- List of Figures -- List of Contributors -- 1 Describing, Studying, and Creating New Economic Spaces -- 2 Network, Embeddedness, and Cluster Processes of New Economic Spaces in Korea -- 3 High Tech 'Large Firms' in Greater Vancouver, British Columbia: Congregation without Clustering? -- 4 Geographic Context and Radical Innovation: The Formation of Knowledge in the American and Japanese Electronic Musical Instrument Industries -- 5 Governing by 'Certifying': International Standards Organization and Capability Maturity Models as Regulatory Practices in Offshore Software Outsourcing, St. Petersburg, Russia -- 6 Geopolitical Economy of Global Syndicated Credit Markets -- 7 State Governance, Regulatory Processes and Entrepreneurship: Singapore's Concentrating Banking Sector -- 8 Foreign Direct Investment and Economic Change in the Yangtze Valley, China: Opening up a New Economic Space -- 9 Cooperating to Realign Supply Chains: Representations, Networks and Tacit Knowledge in New Zealand's Dairy and Sheep Meat Industries -- 10 Placing Economic Development Narratives into Emerging Economic Spaces: Project Jeep, 1996-1997 -- 11 Israel as a Post-industrial Space of Work and Leisure: A Value Stretch of Lifestyle Attributes -- 12 Electronic Waste, Global Value Chains and Environmental Policy Response in China -- 13 Environmental Symbiosis and Renewal of Old Industrial Districts in Japan: Cases of Kawasaki and Kitakyushu -- 14 Environmental Regulation and Economic Spaces: The Mexican Leather and Footwear Industrial Districts -- 15 Concepts of Regional Collaboration as Points of Entry into Regional Institutional Analyses -- 16 Negotiating Culture and Economy in High-technology Industries: Governance through Intellectual Property in New Economic Spaces.

This paper explores the properties of an open economy model in which real exchange rate overshooting has a permanent impact on the rate of unemployment via a hysteresis mechanism. The magnitude of this effect depends on the slope of the short‐run Phillips curve, the speed with which expectations adjust in the labour market, and on the speed with which capacity adjusts to changes in capacity utilisation. However, it does not depend on how open the economy is, although the dynamics of the adjustment process (including the extent of the initial jump in the exchange rate following a change in monetary policy) do depend on this factor.

This book reports the authors' research on one of the most sophisticated general equilibrium models designed for tax policy analysis. Significantly disaggregated and incorporating the complete array of federal, state, and local taxes, the model represents the U.S. economy and tax system in a large computer package. The authors consider modifications of the tax system, including those being raised in current policy debates, such as consumption-based taxes and integration of the corporate and personal income tax systems. A counterfactual economy associated with each of these alternatives is generated, and the possible outcomes are compared