Suchergebnisse

Trade between the United States and Japan has been characterized by Japanese surpluses and American deficits. This prolonged pattern of trade has caused much debate in political, social, and academic spheres. In the political and social spheres the American public is angered by what is perceived as unfair Japanese trade polices. The academic debate concerns the disparity between economic theory and the real situation of trade. Theory predicts that a strong currency and a current account surplus can not coexist indefinitely. As the yen appreciates, American imports to Japan should increase and Japanese exports to the United States should decrease thereby eliminating Japan's current account surplus. However, since the 1985 Plaza Announcement, the yen appreciation has been accompanied by a Japanese trade surplus. This paper looks to reasons rooted in both American and Japanese policies and institutions that account for the counter—theoretical coexistence of Japan's strong yen and trade surplus.

Examines the determinants of the premia between the black & official exchange rates using monthly data for 17 developing countries (Bangladesh, Brazil, Fiji, Gambia, Ghana, Guyana, Hungary, Ireland, Jamaica, Kenya, Nepal, Nigeria, Philippines, Somalia, South Africa, Uganda, & the former Yugoslavia). The premium is hypothesized to be positively influenced by the official depreciation-adjusted interest rates differential & dollar value of domestic assets, & negatively influenced by the official real exchange rate, exports, & a seasonal factor associated with tourism. In general, the results are very supportive of the model. It is found that the interest rate differential & assets positively influence the premium, while the official real exchange rate negatively influences the premium. 3 Tables, 20 Figures, 3 Appendixes, 28 References. Adapted from the source document.

This paper presents a simple static model of a world economy with two countries, two goods, and two representative agents. Initial endowments are the source of each good. Given that the endowments of the two goods across the two countries are asymmetric, the countries have an incentive to trade. Under certain conditions, it is possible that a onetime increase in a good of one country may be called an endowment shock that reduces the welfare of its trading partner. This endowment shock is the equivalent of manna from heaven.

Abstract. The factors that are crucial in predicting burglary of commercial establishments are evaluated. Burglars are rational in their choice of target, in that they consider both the revenue generated by the burglary and the chances of being apprehended. Location of the target plays a major role; establishments located within three blocks of heavily travelled thoroughfares are less vulnerable to burglary than those located further away. The wealthier the community, the higher the probability of burglary of its commercial establishments. Retail establishments and businesses which are located in office parks are most vulnerable to burglary. Establishments which have been in business less than one year are more likely to be burgled; the longer a store is in business, the less likely it is to become a victim of burglary. Burglar alarms are the most effective deterrent available to commercial establishments, followed by the installation of exterior and interior lights. In general, the probability of burglary of non‐alarmed properties is 4.57 times higher than of similar alarmed property. The study is based upon a detailed survey of commercial establishments in three suburban communities of Philadelphia. These communities vary in their locational, physical and socio‐economic characteristics and represent many suburban localities throughout the United States.