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Author: Mustafa O. Caglayan Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
We study strategic trade policy design when governments are incompletely informed about the market demand. Two symmetric, homogeneous product Cournot firms, one in each country, compete in a third country market. Contrary to what common sense would suggest, we show that if governments are less informed on the stochastic market demand both countries will be better off. Also contrary to findings in the literature, we show that when the government is partially informed, although quantity controls would be optimal for both high and low levels of demand uncertainty, subsidies are preferred for intermediate levels.
Author: Mustafa O. Caglayan Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
We study strategic trade policy design when governments are incompletely informed about the market demand. Two symmetric, homogeneous product Cournot firms, one in each country, compete in a third country market. Contrary to what common sense would suggest, we show that if governments are less informed on the stochastic market demand both countries will be better off. Also contrary to findings in the literature, we show that when the government is partially informed, although quantity controls would be optimal for both high and low levels of demand uncertainty, subsidies are preferred for intermediate levels.
Author: S. Lael Brainard Publisher: Forgotten Books ISBN: 9780484523974 Category : Business & Economics Languages : en Pages : 48
Book Description
Excerpt from Strategic Trade Policy With Incompletely Informed Policymakers This paper analyses the implications of incomplete information for strategic trade policy. It revisits in an incomplete information context the simple but powerful point made by Brander and Spencer (1985) that in an oligopolistic industry, unilateral government intervention can shift rents by providing a strategic advantage. The analysis is motivated by the observation that informational asymmetries between firms and policymakers are often quite acute in trade policy. In the US for example, when firms petition for antidumping or countervailing duty investigations, the investigators rely on proprietary information frequently provided by the petitioners. Even senior officials within the US International Trade Commission express concern that the information used in injury investigations is inadequate and biased. For instance, Commissioner Cass has stated, Professional statisticians would be appalled to see the sort of judgments drawn by most commissioners from the information presented to us (quoted in Bovard p. Another hi gh-ranking itc official has been quoted, If you look at the way the itc has to do business, we have industry analysts who get information from the industry and the only way you can get that information is to be on a friendly basis with the industry definitely has the power to censor the information that comes out of the itc (bovard, p. The potential for informational asymmetries is most obvious in the case of infant industries, where the cost structure of emerging enterprises is evolving, and possibly unique to each enterprise. But it also afflicts mature industries, where efficient targeting may be compromised by long-standing relationships between regulators and managers that serve to obscure information from central authorities. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: Ronald Winthrop Jones Publisher: Elsevier ISBN: 0444828648 Category : Business & Economics Languages : en Pages : 896
Book Description
"This Handbook adopts a traditional definition of the subject, and focuses primarily on the explanation of international transactions in goods, services, and assets, and on the main domestic effects of those transactions. The first volume deals with the "real side" of international economics. It is concerned with the explanation of trade and factor flows, with their main effects on goods and factor prices, on the allocation of resources and income distribution and on economic welfare, and also with the effects on national policies designed explicitly to influence trade and factor flows. In other words, it deals chiefly with microeconomic issues and methods. The second volume deals with the "monetary side" of the subject. It is concerned with the balance of payments adjustment process under fixed exchange rates, with exchange rate determination under flexible exchange rates, and with the domestic ramifications of these phenomena. Accordingly, it deals mainly with economic issues, although microeconomic methods are frequently utilized, especially in work on expectations, asset markets, and exchange rate behavior."--Publisher's information
Author: David Greenaway Publisher: Springer ISBN: 0230305318 Category : Business & Economics Languages : en Pages : 727
Book Description
International trade is the core foundation of globalisation. This current and up-to-date volume brings together the finest academics working in the field today, containing contributions in key areas of policy research, such as, modelling frameworks, trade policy, trade and migration, trade and the environment, trade and unemployment.
Author: James A. Brander Publisher: ISBN: Category : Commercial policy Languages : en Pages : 60
Book Description
This paper reviews the literature on strategic trade policy. Strategic trade policy is defined as trade policy that conditions or alters a strategic relationship between firms, implying that strategic trade policy focuses primarily on trade policy in the presence of oligopoly. The key point is that strategic relationships between firms introduce additional motives for trade policy, over and above terms of trade and other effects that arise in all market structures. I demonstrate this general point using a simple game theoretic framework, then present the major results of strategic trade policy using two models: the 'third market' model, in which oligopolistic firms in two exporting nations export the good in question exclusively to a third country; and the 'reciprocal markets' model, in which firms in two countries compete in each others' markets. The paper makes the well-known point that slight differences in model structure can give rise to strikingly different trade policy implications, but also seeks to emphasize the robust general points that emerge from the literature.
Author: Ahmet Alkan Publisher: Springer Science & Business Media ISBN: 3662037505 Category : Business & Economics Languages : en Pages : 541
Book Description
In 1990, the Society for the Advancement of Economic Theory (SAET) was founded with the main purpose to advance our knowledge in theoretical economics and to facilitate communication among researchers in economics, mathematics, game theory and any other field which is po tentially useful to economic theory. To achieve these goals, SAET sponsors the research journal Economic Theory published by Springer-Verlag and holds international conferences every other year. The first two conferences SAET took place in the island of Cephalonia, Greece, in the summers of of 1993 and 1995. In the summer of 1997, the conference was held in Antalya, Turkey. The twenty-nine papers in this volume are mostly by participants in the Antalya meeting of SAET and form a broad sample of the 150 papers pre sented there. Topics covered include cooperative and noncooperative games, social choice and welfare, bargaining, matchings, auctions, mechanism de sign, general equilibrium, general equilibrium with finance, industrial or ganization, macroeconomics, and experimental economics. We have chosen to present the papers according to the alphabetical order of first author names instead of grouping them by topic or theme. We have appended a complete listing of the sessions in the conference together with a list of program committee members and of sponsors at the end of the volume.
Author: Ben Fine Publisher: Routledge ISBN: 1134402325 Category : Business & Economics Languages : en Pages : 253
Book Description
The Post-Washington Consensus has succeeded in becoming the new theoretical underpinning for the World Bank's Structural Adjustment policies in developing countries. This broad-ranging critique explains that without a much broader political economy the Post-Washington Consensus is unlikely to provide a coherent framework for successful development policies. Development Policy in the 21st Century is unique in its depth and assesses the postures of the new consensus topic by topic, whilst posing strong alternatives. It will improve and stimulate the reader's understanding of this important area, and is highly recommended to advanced students and professionals
Author: Mustafa O. Caglayan
Author: Mustafa O. Caglayan
Author: S. Lael Brainard
Author: G.M. Grossman
Author: Ronald Winthrop Jones
Author: David Greenaway
Author: James A. Brander
Author: Ahmet Alkan
Author: Ben Fine
Author: Gene M. Grossman
Author: