Uncertainty Resolution and Strategic Trade Policy in Oligopolistic Industries PDF Download
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Author: Mustafa O. Caglayan Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper investigates a government's choice of strategic trade policy when the domestic firm observes a private noisy signal about the stochastic market demand while in competition with a rival firm. The government chooses between quantity controls and subsidies to maximize profits of the domestic firm. Assuming that firms compete a la Cournot in a third country, we show that the optimal trade policy depends not only on demand uncertainty but also on the predictability of the true market demand by the firms.
Author: Mustafa O. Caglayan Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper investigates a government's choice of strategic trade policy when the domestic firm observes a private noisy signal about the stochastic market demand while in competition with a rival firm. The government chooses between quantity controls and subsidies to maximize profits of the domestic firm. Assuming that firms compete a la Cournot in a third country, we show that the optimal trade policy depends not only on demand uncertainty but also on the predictability of the true market demand by the firms.
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: Haokai Ning Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
We introduce demand uncertainty into the context of strategic trade policy in an export rivalry market model, and we examine endogenous timing in the framework of Cournot-Stackelberg duopoly when firms decide in the first stage whether to set output level before or after resolution of uncertainty. In the absence of government intervention, both Cournot outcome and Stackelberg outcome could emerge in the equilibrium depending on market volatility and cost difference between firms. Under bilateral export subsidies, both firms tend to prefer making output decisions after the resolution of uncertainty which yields only the Cournot market structure. This result holds for any degrees of uncertainty, regardless whether the firm has cost advantage over its rival or not.
Author: Robert E. Baldwin Publisher: University of Chicago Press ISBN: 0226036510 Category : Business & Economics Languages : en Pages : 392
Book Description
Interest in U.S. trade policy has been stimulated in recent years by the massive American trade deficit, by the belief that intervention by foreign governments in international markets has given other countries a competitive edge over the United States, and by concern about the increase in protectionism among industrial countries. In turn, major analytical developments in international economics have revolutionized trade theory, broadening its scope both by introducing in a more formal manner such concepts as imperfect competition, increasing returns, product differentiation, and learning effects and by including the study of political and economic factors that shape trade policy decisions. This collection of papers—the result of a conference held by the NBER—applies these "new" trade theories to existing world cases and also presents complementary empirical studies that are grounded in more traditional trade theories. The volume is divided into four parts. The papers in part 1 consider the problem of imperfect competition, empirically assessing the economic effect of various trade policies introduced in industries in which the "new" trade theory seems to apply. Those in part 2 isolate the effects of protection from the influences of the many economic changes that accompany actual periods of protection and also examine how the effects from exogenous changes in economic conditions vary with the form of protection. Part 3 provides new empirical evidence on the effect of foreign production by a country's firms on the home country's exports. Finally, in part 4, two key bilateral issues are analyzed: recent U.S.-Japanese trade tensions and the incident involving the threat of the imposition of countervailing duties by the United States on Canadian softwood lumber.
Author: Charles Chukwuma Soludo Publisher: IDRC ISBN: 1592211658 Category : Africa Languages : en Pages : 376
Book Description
This book maps the process and political economy of policy making in Africa. It's focus on trade and industrial policy makes it unique and it will appeal to students and academics in economics, political economy, political science and African studies. Detailed case studies help the reader to understand how the process and motivation behind policy decisions can vary from country to country depending on the form of government, ethnicity and nationality and other social factors.
Author: Partha Gangopadhyay Publisher: Emerald Group Publishing ISBN: 1848552017 Category : Political Science Languages : en Pages : 406
Book Description
The process of globalisation has its own dynamics and several serious flaws that have resulted in significant economic, political and social imbalances in the global political economy. This book examines the implications of these imbalances for achieving lasting global peace.
Author: Mustafa O. Caglayan
Author: Mustafa O. Caglayan
Author: Mustafa Çağlayan
Author: Russell W. Cooper
Author: Mustafa O. Caglayan
Author: Craig Tyler Schulman
Author: Haokai Ning
Author: Avinash K. Dixit
Author: Robert E. Baldwin
Author: Charles Chukwuma Soludo
Author: Partha Gangopadhyay