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91.
This note explores the determinants of intra-industry trade by extending the standard Chamberlinian-Ricardian monopolistic
competition trade model (e.g., Krugman, 1979) to have a continuum of industries (e.g., Dornbusch et al., 1977). It shows that
the degree of cross-country technical differences among industries plays an important role as a determinant of trade within
each industry. 相似文献
92.
93.
The role of the static Heckscher–Ohlin model in providing general equilibrium comparative statics is emphasized. It is shown that (i) market-clearing dynamics can be constructed if and only if the costly reallocation of factors is accommodated, and (ii) the introduction of market-clearing and resource-using dynamics fails to sharpen (and may even blunt) the comparative statics. Thus, a new (non-)Correspondence Principle is derived. 相似文献
94.
We demonstrate that a well-behaved utility function can generate Giffen behavior, where “well-behaved” means that its indifference
curves are smooth, convex, and closed in a commodity space; the resulting demand function of each good is differentiable with
respect to prices and income. Moreover, we show that Giffen behavior is compatible with any level of utility and an arbitrarily
low share of income spent on the inferior good. This contrasts sharply with the common view that the Giffen paradox tends
to occur when households’ wealth levels are low.
Comments from Murray C. Kemp, Binh Tran-Nam, Ngo Van Long, Masao Oda, Noritsugu Nakanishi, and Chiaki Hara have greatly improved
the paper. We have also benefited from discussions with Koichi Hamada, Satya Das, Takashi Kamihigashi, Tomoyuki Kamo, Toru
Kikuchi, Katsufumi Fukuda, Yu-chin Chen, Fahad Khalil, Takeshi Nakatani, Kazuo Nishimura, Ken-Ichi Shimomura, and Stephen
J. Turnovsky. We thank the anonymous referee for his/her helpful comments. Iwasa would like to acknowledge financial support
from Research Fellowships of the Japan Society for the Promotion of Science for Young Scientists. Professor Koji Shimomura
passed away on February 24, 2007. This paper was completed after his untimely death. 相似文献
95.
Koji Ishibashi 《Journal of Economics》2001,73(1):25-56
This paper examines strategic manipulations of incentive contracts in a model where firms compete in quality as well as in
price. Compensation schemes for managers are based on a linear combination of profits and sales. For a given level of quality,
a firm desires to reduce the manager's compensation when product sales increase; this serves as the firm's commitment to raise
prices. Nevertheless, in general, a manager has a stronger incentive to produce goods of higher quality if he is compensated
according to sales. Therefore, a compensation scheme that penalizes a manager when sales increase may result in products that
are inferior to those of its rival. We show that, depending on the nature of quality, a positive weight on sales may be desirable
when firms compete in quality and price. Welfare implications are also explored. 相似文献
96.
Nimita Arora Koji Makino Dominic Tilden Kyriakos Lobotesis Peter Mitchell 《Journal of medical economics》2018,21(8):799-809
Aims: The goal of this study was to assess the cost-effectiveness of mechanical thrombectomy (MT) for acute ischemic stroke (AIS) from an Australian payer perspective.Methods: This study used a Markov model that employed a life-time time horizon, modeling patients from symptom onset of stroke until end of life. Clinical efficacy and safety data were taken from an individual patient level data (IPD) meta-analysis of clinical studies. The treatment effect of MT compared to usual care was measured by changes in modified Rankin Score (mRS). Post-treatment mRS scores were used to determine short- and long-term stroke care costs. Treatment costs were modeled, with health state utility values determined by literature review. All analyses were conducted using Microsoft Excel.Results: In comparison to usual care, MT is associated with higher costs ($10,666 per patient) and additional quality-adjusted life years (QALYs) (0.8281 per patient), resulting in an incremental cost per QALY of $12,880. Sensitivity analyses demonstrated the reliability of the base case results across a range of assumptions. The higher cost associated with MT is, to an extent, offset by the cost savings resulting from lower stroke care costs due to improved patient outcomes. The life-time cost savings in terms of stroke care costs are estimated to be more than $8,000 per patient for patients who had received MT in combination with usual care.Limitations: Stroke care costs based on patient disability/functional level were not available and were derived. As a consequence, long-term care costs for patients with poorer outcomes may be under-estimated. Patient outcomes at 90 days were extrapolated to a lifetime horizon, but this approach was supported by long-term evidence on stroke survival.Conclusions: Mechanical thrombectomy is a cost-effective treatment option for AIS, with clinical benefits translating to short- and long-term cost benefits. This analysis supports rapid update of stroke care pathways to incorporate this therapy as a treatment option. 相似文献
97.
The Frankel, Romer and Lucas theories of endogenous growth rest on the assumptions of knowledge‐based externalities and price‐taking representative agents. It is argued that, in a context of long‐run growth, these assumptions are mutually incompatible, that representative agents will cooperate to internalize the externalities and will cease to be price takers, and that, therefore, the relevance of theories based on those assumptions must be questioned. 相似文献
98.
Received May 23, 2001; revised version received October 22, 2001 相似文献
99.
Koji Ota 《The International Journal of Accounting》2002,37(2):157-182
This paper investigates the validity of the Ohlson [Contemp. Account. Res. 11 (1995) 661] information dynamics (Linear Information Model: LIM) and attempts to improve the LIM. The difficulty concerning the empirical tests of the LIM lies in identifying νt, which denotes information other than abnormal earnings. Recent papers, such as those of Myers [Account. Rev. 74 (1999) 1], Hand and Landsman [The pricing of dividends in equity valuation. Working paper, University of North Carolina, 1999], and Barth et al. [Accruals, cash flows, and equity values. Working paper (January) (July), Stanford University, 1999], all try to specify νt by using various accounting information. Instead of tackling this difficult task, this paper focuses on serial correlation in the error terms caused by omitting the necessary variable νt from the regression equation. The results indicate that adjustment for serial correlation leads to an improvement of the LIM. 相似文献
100.
RTAs are generally formed without any tariff concessions or transfers to nonmember countries. Can such an RTA benefit nonmembers' welfare? In a two‐good three‐country competitive equilibrium model in the absence of an entrepôt, an RTA without concessions to a nonmember will hurt nonmembers' welfare when goods are normal. If one of the member countries is an entrepôt, however, it definitely improves nonmembers' welfare. In a three‐good three‐country model, an RTA without concessions damages the nonmember's welfare, provided that all the goods are normal and substitutes, and that initial tariff levels are small. 相似文献