Exchange-rate dynamics: An empirical investigation
In: Journal of political economy, Band 89, Heft 2, S. 357-371
ISSN: 0022-3808
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In: Journal of political economy, Band 89, Heft 2, S. 357-371
ISSN: 0022-3808
World Affairs Online
In: Economica, Band 64, Heft 253, S. 137-154
ISSN: 1468-0335
This paper combines increasing marginal cost and depreciation in a continuous‐time model of a durable‐goods monopolist. In contrast to the case of increasing marginal cost but no depreciation (analysed by Kahn) and the case of depreciation with constant marginal cost (analysed by Bond and Samuelson), steady‐state output in this model is less than in the competitive case. A turnpike result shows that choice of a long enough time horizon can make the equilibrium path of output in a finite‐horizon game arbitrarily close to the path of the infinite‐horizon game.
In: Journal of international economics, Band 11, Heft 3, S. 361-377
ISSN: 0022-1996
In: Journal of political economy, Band 89, Heft 2, S. 357-371
ISSN: 1537-534X
In: Journal of international economics, Band 24, Heft 1-2, S. 159-172
ISSN: 0022-1996
In: Journal of international economics, Band 23, Heft 3-4, S. 241-261
ISSN: 0022-1996
In: Journal of international economics, Band 19, Heft 3-4, S. 329-340
ISSN: 0022-1996
In: Journal of international economics, Band 12, Heft 3-4, S. 313-331
ISSN: 0022-1996
In: Journal of international economics, Band 10, Heft 1, S. 91-102
ISSN: 0022-1996
In: Frontiers of Economics and Globalization; Contemporary and Emerging Issues in Trade Theory and Policy, S. 165-190
In: The B.E. journal of economic analysis & policy, Band 7, Heft 1
ISSN: 1935-1682
Abstract
Stringent environmental taxes in high-income countries are assumed to drive dirty industries to low-income countries, but the empirical evidence for ``pollution havens" is surprisingly weak. We demonstrate that a government trying to prevent flight by a ``dirty" durable good monopolist can impose an effluent tax that is offset by a lump-sum subsidy so that both firm profits and host-country welfare are increased. The scheme exploits the Coase Conjecture insight: a durable goods monopolist has a time-consistency dilemma that limits its ability to restrict future output. In this environment the effluent tax provides a credible commitment that restricts future supply. We assert that the use of lump-sum subsidies in strategic location competition is consistent with this mechanism, and this paradigm may be an important piece of the ``pollution haven paradox."
In: Journal of international economics, Band 41, Heft 1-2, S. 179-194
ISSN: 0022-1996
In: Journal of institutional and theoretical economics: JITE, Band 165, Heft 4, S. 723
ISSN: 1614-0559
In: National Bureau of Economic Research Conference Report
Once unquestionably the world's leading economic and industrial power, the United States now views with growing dismay the impressive industrial efficiency, vigorous work ethics, and large American holdings of various other nations. Is the United States truly lagging in its ability to compete effectively in world markets? Concern over this question has been voiced in both the business and government sectors, as well as by academic economists. A recent conference, sponsored by the National Bureau of Economic Research, explored the effects of trade policies on a nation's ability to compete in international markets. In Trade Policies for International Competitiveness, Robert C. Feenstra collects seven papers from the conference, each accompanied by discussants' comments, and adds a helpful introduction. Some of the issues considered by contributors are effects of macroeconomic and strategic foreign policies on competitiveness; the recent influx of foreign direct investment in the United States, primarily from Japan; the extent to which Japanese trade patterns are a reflection of underlying factor and endowments rather than trade barriers; and the market structure of Canadian industries, including applications for ongoing U.S.-Canadian free trade negotiations. Topical and provocative, these papers will be of value to economists, policymakers, and those in the business world
In: NBER Working Paper No. w17043
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