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1.
Greece’s Potential Trade Flows: A Gravity Model Approach 总被引:2,自引:0,他引:2
Christos Papazoglou 《International Advances in Economic Research》2007,13(4):403-414
This paper attempts to access whether Greece’s low openness is a reflection of its low trade integration primarily as a result
of the country’s relatively poor goods export performance. The analysis estimates potential trade flows for Greece through
a gravity model using a panel of cross-country data, which cover bilateral trade flows concerning the EU member states. These
flows are then derived by applying the estimated parameters to the Greek economy. The results show that actual Greek exports
fall short of potential ones, while the opposite is true with respect to imports. This becomes more profound when the extent
of intra-industry trade is included in the analysis. The findings for the Greek exports differ considerably from the corresponding
ones for Portugal, a country with similar characteristics, manifesting the limited convergence of Greece’s trade patterns
towards the EU average as well as its unique geographical location relatively to the other EU countries.
相似文献
Christos PapazoglouEmail: |
2.
This paper studies the disequilibrium transition process engaged by increased openness to trade, and the effect of institutions,
market behaviors and economic policies on that transition. The issue is analyzed with a simple two country (north and south),
two goods model, amended in order to take into account the time dimension of both the production and the decision processes.
Investigating the consequences of a tariff decrease by means of numerical simulations, we show to what extent wage and price
setting, and the degree of tightness of monetary policy affect the outcome of the disequilibrium process. The main result
is that capturing the gains associated with international trade requires market behaviors and economic policies, which are
rather different from what is usually prescribed.
相似文献
Francesco SaracenoEmail: |
3.
We analyze the role of vertical innovation in trade patterns for developing economies trading with technologically advanced
countries. A model is presented where the international diffusion of knowledge, promoted by economic integration, is the source
of a technological catching up and leads to a convergence in the quality of traded goods, with a positive effect on exports.
We then turn our attention on the evolution of trade between the Central and Eastern European countries (CEECs-5) and their
European Union partner countries, assessing whether economic integration has increase the quality of the goods produced. For
the period 1995–2005, we find evidence of the increasing role of intra-industry trade and vertical differentiation and a process
of specialization in higher quality products, especially in the medium- and high-skill sectors.
相似文献
Marcella Mulino (Corresponding author)Email: |
4.
This paper explores the implications of trade liberalization by extending the intra-industry trade framework à la Fung and
Maechler (J Int Trade Econ Dev 16(1):53–69, 2007) to the case of sequential move and taking the mode of firms’ competition
into consideration as well. It is shown that the existing results obtained for the case of simultaneous price competition
are robust in quantity competition and sequential move cases. Moreover, it studies the likelihood that the environmental effects
of trade liberalization occur.
相似文献
Lihong ZhaoEmail: |
5.
Mark A. Lutz 《Forum for Social Economics》2008,37(2):147-164
Probably one of the most controversial contributions to the literature of international trade theory was offered by the late
social economist John Culbertson. In his view, low wage competition among corporations in a world characterized by capital
mobility and massive trade deficits undermines the foundation trade theory based on David Ricardo’s celebrated notion of comparative
advantage. Instead, there are several good reasons to believe that international trade with China, India, Vietnam, etc. will
be governed by absolute advantage. The current essay is dedicated to the virtually ignored work of Culbertson, and it is meant
as an invitation for social economists to critically evaluate the argument and in the process make an attempt to point out
where it goes wrong.
Mark A. Lutz was born in New York, grew up in Switzerland, and earned his M.A. and Ph.D. degrees in economics at the University of California, Berkeley. He taught at the University of Maine from 1970 till his retirement in 2001. For three decades he has been a member of the Association of Social Economics, serving in various capacities, including as president, and was also privileged to be awarded the Thomas Divine Award. His longtime interests have centered on a more humanistic approach to economics, a viewpoint centered on human wellbeing, which can be traced back to the early 19th century. It’s a vision of the economy where there has long been much skepticism about the alleged benefits of unregulated market competition coordinating economic activity within or between nations. 相似文献
Mark A. LutzEmail: |
Mark A. Lutz was born in New York, grew up in Switzerland, and earned his M.A. and Ph.D. degrees in economics at the University of California, Berkeley. He taught at the University of Maine from 1970 till his retirement in 2001. For three decades he has been a member of the Association of Social Economics, serving in various capacities, including as president, and was also privileged to be awarded the Thomas Divine Award. His longtime interests have centered on a more humanistic approach to economics, a viewpoint centered on human wellbeing, which can be traced back to the early 19th century. It’s a vision of the economy where there has long been much skepticism about the alleged benefits of unregulated market competition coordinating economic activity within or between nations. 相似文献
6.
We combine evolutionary theory concepts and multivariate persistence methodology to develop and test expectations about the
adaptiveness of firm decisions and its implications for performance heterogeneity. We focus on the relatively reversible advertising
decisions in an evolving product market, domains typically ignored by evolutionary research. We find that an adaptive decision
routine helps an incumbent firm maintain its advantages and overcome the challenge posed by a major competitive entry.
相似文献
Zhenfeng MaEmail: |
7.
Between 1955 and 1987, Austrian trade with Eastern Europe was characterized by specific factors. On the one hand, trade flows
were influenced by the central planning system in Eastern Europe. On the other hand, Austria applied non-standard policy tools
to manage Eastern trade. Furthermore, Austrian trade with Eastern Europe was affected by the implementation of the free trade
agreement with the European Communities (EC) and the change in the institutional framework for Eastern trade in the early
1970s. Austrian Eastern exports were fostered by increased export subsidies and barter trade. We assess the net effects of
these contradictory measures of trade policy by estimating aggregate import and export equations and testing for a structural
break in 1973. Our results are consistent with the view that Austria subsidized Eastern exports to pursue a countercyclical
policy after 1973.
相似文献
Andreas ReschEmail: |
8.
Joel Sobel 《International Review of Economics》2009,56(1):3-16
This paper points out that classical competitive outcomes arise in two different market environments even if agents have non-classical
preferences. Consumers with separable, other-regarding preferences behave as if they have classical preferences in competitive
equilibrium. These outcomes need not be efficient, but under plausible conditions will be efficient following a redistribution
of income. In simple double-auction environments competitive outcomes arise under a wide range of assumptions on preferences
even without assuming separability. I discuss the importance of the domain of definition of preferences and how the preferences
present in the economy influence the performance of the trading institution.
相似文献
Joel SobelEmail: |
9.
How large is liquidity risk in an automated auction market? 总被引:2,自引:0,他引:2
We introduce a new empirical methodology that models liquidity risk over short time periods for impatient traders who submit market orders. Using Value-at-Risk type measures, we quantify the liquidity risk premia for portfolios and individual stocks traded on the automated auction market Xetra. The specificity of our approach relies on the adequate econometric modelling of the potential price impact incurred by the liquidation of a portfolio. We study the sensitivity of liquidity risk towards portfolio size and traders' time horizon, and interpret its diurnal variation in the light of market microstructure theory.
相似文献
Pierre GiotEmail: Phone: +32-81-724887 |
Joachim Grammig (Corresponding author)Email: Phone: +49-7071-2976009Fax: +49-29-5546 |
10.
Ramya M. Vijaya 《Forum for Social Economics》2007,36(2):73-85
This paper presents a gender perspective of the Trade Adjustment Assistance (TAA) program. The TAA is the primary US policy
to assist the transition of workers displaced due to trade related economic restructuring. In comparison to the relatively
substantial research on gendering trade policies in developing economies there is very limited focus on gendering policy responses
to trade in the US. We argue that there is a specific gender trend in the trade-displacement patterns in the US which calls
for a gender sensitive policy response. We examine the TAA in light of this trend and offer some suggestions for a gendered
approach to providing assistance to workers negotiating an increasingly flexible global labor market.
相似文献
Ramya M. VijayaEmail: |
11.
Export variety and the economic performance of countries 总被引:3,自引:0,他引:3
We explore the relationship between export variety and economic development, using data on OECD countries between 1964 and
2003. We show that structural change in the world economy has a particular arrow of time leading to a growing variety of exports.
Distinguishing between related variety (within sectors) and unrelated variety (variety between sectors), we also show that
related variety stimulates growth instantaneously, while unrelated variety only promotes growth with a considerable time lag.
This finding is in line with the evolutionary notions that economic development and international trade patterns are path
dependent.
相似文献
Koen FrenkenEmail: |
12.
In this paper, using daily data for six major international stock market indexes and a modified EGARCH specification, the
links between stock market returns, volatility and trading volume are investigated in a new nonlinear conditional variance
framework with multiple regimes and volume effects. Volatility forecast comparisons, using the Harvey-Newbold test for multiple
forecasts encompassing, seem to demonstrate that the MSV-EGARCH complex threshold structure is able to correctly fit GARCH-type
dynamics of the series under study and dominates competing standard asymmetric models in several of the considered stock indexes.
相似文献
José Dias CurtoEmail: |
13.
This study examines the features and determinants of intra-industry trade (IIT), horizontal IIT (HIIT) and vertical IIT (VIIT)
between Portugal and the European Union in the period 1996–2002, using a static and a dynamic panel data analysis. The findings
indicate that Portuguese VIIT increased significantly during the period in accordance with the values expected for a developed
country. The regression results show that there is evidence supporting the explanation of VIIT by Heckscher–Ohlin’s (HO) theory
and that Portugal has comparative advantages in low-quality differentiated products. The findings support the theory that,
in general, there is no positive statistical association between HIIT and HO variables. The central theme of this paper is
to show that it may be preferable to use the GMM approach in empirical studies of IIT rather than pooled OLS, fixed effects
or random effects estimators. The results also suggest that the GMM system estimator obtains more reasonable parameter estimates
than the first-differenced GMM estimator.
相似文献
Horácio C. FaustinoEmail: |
14.
This study examines the impact of a stamp tax rate increase on market behavior, using data from two stock exchanges in China. We find that when the tax rate increases from 0.3 to 0.5% (which implies that the transaction cost increases by about 1/3) trading volume decreases by 1/3. This implies an elasticity of turnover with respect to a stamp tax of −50% and an elasticity of turnover with respect to transaction cost of −100%. The markets’ volatility significantly increases after the increase in the tax rate. Furthermore, the change in the volatility structure indicates that the markets become less efficient in the sense that shocks are less quickly assimilated in the markets.
相似文献
Badi H. Baltagi (Corresponding author)Email: |
Dong LiEmail: |
Qi LiEmail: |
15.
Johan Willner 《Empirica》2008,35(5):449-464
This contribution analyses a market with an upstream bottleneck monopoly and a downstream activity that may either be vertically
integrated or separated. Separation always reduces the consumer surplus, and the total surplus unless there are large cost
reductions. Downstream competition from a public or private network monopoly would crowd out other firms, also when public
ownership is associated with more modest objectives than welfare-maximisation. A market is therefore less likely to remain
a mixed oligopoly than without vertical relations. However, private firms would survive in a moderately welfare-improving
mixed oligopoly with cross-subsidisation and access charges equal to marginal costs.
相似文献
Johan WillnerEmail: |
16.
Economic integration and similarity in trade structures 总被引:2,自引:0,他引:2
In this paper, we look at the similarity of the trade structures toward the EU market between four CEECs and the EU15. We
evaluate the appropriateness of different indices to compare export flows—correlation indices and distance metrics—opting
for the use of the Bray-Curtis semi-metric. We examine both how the export composition of a country has changed over time
and how the export composition has changed with respect to the EU15 export composition. Finally, we test if the dynamics of
sectoral distribution of the CEECs’ exports is related to the role acquired by processed trade in the 1990s. We give evidence
that processed trade is crucial in explaining changes in the overall structure of exports of transition countries, and that
greater economic integration in terms of trade flows and processing trade does not always lead to greater export similarity.
相似文献
Lucia TajoliEmail: |
17.
Gianpaolo Rossini 《International Review of Economics》2008,55(3):229-242
We go through the decision to vertically integrate or its opposite, outsource, in an uncertain environment. We consider two
different market strategies, price setting and quantity setting and two different vertical relationships: an (imperfectly)
competitive one following Stackelberg mode and a more cooperative one with bargaining. In the first scenario, with certainty,
price and quantity settings are alike, while with uncertainty the ranking changes. If a bargaining framework is adopted instead,
quantity setting under uncertainty leads to an asymmetric distribution of realized gains along the vertical chain. Price setting
turns out to be more equitable for firms and preferable even by consumers.
相似文献
Gianpaolo RossiniEmail: |
18.
In many differentiated product industries, both traditional and “new economy” activities, vertically integrated firms also
supply inputs to apparent rivals in the downstream business. This generates heterogeneity between low- and high-sunk cost
suppliers with implications for entry and competitive conduct. The web hosting market is typical with primary suppliers operating
alongside resellers who rent server space from them. We explore the impact of competition in US hosting using a unique dataset
covering 15,000 packages offered by 3,500 firms. The results suggest price is sensitive to competitor clustering in quality
space; an outcome consistent with easy entry for resellers with ultra-low fixed costs.
相似文献
Steve ThompsonEmail: |
19.
Small firms in Portugal: a selective survey of stylized facts,economic analysis,and policy implications 总被引:2,自引:1,他引:1
Luís M. B. Cabral 《Portuguese Economic Journal》2007,6(1):65-88
I survey a number of stylized facts pertaining to the dynamics of firm entry, growth, and exit in competitive industries.
I focus particularly on data for Portugal, although I also consider, for comparison purposes, data from other countries. I
then present a series of theoretical models that attempt to explain the stylized facts and evaluate the welfare impact of
market distortions. Finally, I derive a number of policy implications, all centered around the notion of economic mobility.
相似文献
Luís M. B. CabralEmail: Email: |
20.
Germán Coloma 《Empirical Economics》2006,31(3):587-599
This paper presents a version of the proportionally calibrated almost ideal demand system (PCAIDS) model, useful for merger simulations, which can be econometrically estimated using price data for two firms in a market. PCAIDS is therefore seen as a set of restrictions to be imposed in an econometric estimation, and not only as a pure calibration method. The proposed model is applied to a database of the Argentine gasoline market, and its results are compared to the ones obtained with other alternative specifications.
相似文献
Germán ColomaEmail: |