A note on merger in mixed duopoly: Bertrand versus Cournot

In this note we analyze the incentives to merge in a mixed duopoly if firms compete in prices or quantities. Our model framework mainly follows Barcena-Ruiz and Garzon (J Econ 80:27–42, 2003) who set up the model with quantity competition. We extend their analysis by analyzing the case of competition in prices. Further we compare the incentives to merge with Bertrand and Cournot competition. Comparing quantity with price competition we can show that a merger is more likely with Cournot competition than with Bertrand competition.     

The allocative efficiency of centrally planned foreign trade: A programming approach to the Czech case

In this paper the efficiency of the allocation of Czech trade with the member countries of OECD is investigated by means of a linear programming model. We find that considerable losses in this trade occurred in both of the years 1962 and 1964 examined. The bulk of the losses occurs in the allocation of exports and their magnitude is very dependent on the foreign elasticity of demand. Balance of payments constraints, on the other hand, are not an important cause of misallocation.     

Tariffs and non-tariff barriers to trade in Hungary: The impact of the Uruguay Round and EU accession

International trade has featured prominently in Hungary's rapid transition to a market economy. This paper reports some relatively simple summary and complementary indicators for tariffs and non-tariff barriers (NTBs) to trade, which are designed to reflect the level and structure of tariffs and the scope of NTBs in Hungary. The existence of tariff 'spikes' and highly pervasive NTBs in certain sectors constitutes prima facie evidence that the domestic dead-weight efficiency and net welfare losses caused by tariff and non-tariff protection as well as the costs to consumers could be high. The indicators are used to highlight several key developments associated with Hungary's transition to a market economy, implementation of the Uruguay Round (UR) agreements and possible accession to the EU.     

Capacity precommitment as a barrier to entry: A Bertrand-Edgeworth approach

Summary. With few exceptions, the literature on the role of capacity as a strategic entry deterrent has assumed Cournot competition in the post-entry game. In contrast, this paper studies a model in which the incumbent and entrant sequentially precommit to capacity levels before competing in price. Interesting deterrence effects arise because firms need time to build, that is, cannot adjust capacity instantaneously in the post-entry game. This approach produces a simple and intuitive set of equilibrium behaviors and generates clear predictions about when these different outcomes are likely to arise. Our model also departs substantially from the existing literature in concluding that sunkness of capacity costs is neither necessary nor sufficient for capacity to have precommitment value. Received: August 25, 1999; revised version: October 15, 1999     

跨境电商带动传统产业转型升级路径

我国跨境电商近年来持续保持高速增长,为中小企业参与全球价值链和国际贸易提供新的机会,带动传统产业转型升级的优势逐步显现。我国制造业仍处于全球价值链中低端,跨境电商在与传统产业融合的过程中不断创新服务模式,扩大贸易规模。推动传统产业利用跨境电商改变生产方式和流通方式、塑造品牌形象、提高附加值,成为培育对外贸易竞争新优势的重要途径。     

金融危机对中国外贸发展的考验

金融危机对全球经济的影响已经在各国经济下滑的态势中得到了具体的体现。但金融危机发生之后,各国对自由贸易体制的态度的转变以及所采取的诸如贸易保护主义的种种措施不得不引起注意,在目前全球经济形势出现好转迹象的形势下,各国要充分挖掘自由贸易体制下各国对外贸易发展的优势,更应该让贸易保护主义国家认识到贸易保护措施为其带来的短期经济增长以及为此所要付出的长期对外贸易发展受阻的沉重代价。     

人民币升值对我国外贸业的影响

中国自2005年7月21日实行新一轮的人民币汇制改革以来,货币一直处于升值的状态,对国民经济产生各种影响,外贸经济也不例外。中国自改革开放以来,对外贸易一直保持高速增长,而且连年保持着贸易顺差。人民币的升值将对我国外贸进出口的总额及其结构产生一系列影响。所以,对人民币在进出口贸易中给我国带来的有利和不利影响进行分析极其必要。     

经济危机下的新贸易保护主义：我国外贸企业应对策略浅析

由次贷危机引发的地震式的金融大倒塌蔓延至实体经济,全球性的经济危机使得各国纷纷筑起贸易保护大墙。中国作为世界出口大国更是遭遇到了前所未有的贸易保护的损害,尤其是我国的外贸企业。对此次经济危机的表现和特点进行剖析,进而提出应对此次经济危机引发的贸易保护主义的对策。     

Exchange rates and trade: the case of Irish exports to Britain

This paper examines the effect of changes in the Punt/Sterling exchange rate on exports from Ireland to Britain. The approach used here differs significantly from that used in most other studies in that the long-run neutrality of the Punt/Sterling exchange rate with regard to exports from Ireland to Britain is tested using a recently developed technique. There is strong evidence that the exchange rate is neutral in the long run.     

The foreign exchange constraint,suppression of the trade deficit and the shadow price of foreign exchange in a fix-price economy

The foreign exchange gap is analysed as a possible feature of a fix-price economy. The implications of closing the gap by means of import rationing are then discussed. Finally, a set of shadow rates of exchange is derived. These shadow prices are conditional on the prevailing regimes, and include the paradoxical possibility of a negative shadow rate of exchange.     

Growing through trade in intermediate goods: the role of foreign growth and domestic tariffs

We show that pure Ricardian trade can account for the empirical evidence that domestic growth is more affected by foreign growth than by trade openness. To do this, we develop a two‐country model involving a backward economy that exchanges intermediate goods with a faster growing country. We obtain three main results regarding growth and welfare of the backward economy: (i) the growth‐enhancing comparative advantage is facilitated by faster foreign growth; (ii) the growth rate may be negatively affected or unaffected by a domestic tariff, while it is always positively impacted by foreign growth; and (iii) a domestic tariff could be welfare‐improving.     

引资效应:东盟自由贸易区的实例

在1992年新加坡东盟第4次首脑会议上,东盟各国宣布从1993年1月1日起的15年内建成东盟自由贸易区,关税最终降至0.5%,基本实现成员国之间免除关税。同时,各国经济部长批准了《共同有效优惠关税协定》(CEPT)。至此,标志着东盟区域经济合作进入新阶段的东盟自由贸易区计划正式出台了。经过十年的努力,东盟各国在执行CEPT减免关税方面取得较大进展。至2001年5月,东盟10国的加权平均关税税率为3.85%。作为成功实行CEPT计划的结果,东盟内部贸易额已经从1993年的442亿美元增加到2000年的952亿美元,平均年增长率为11.6%。区内出口份额从1993年东…     

Measuring internal trade distances: a new method applied to estimate provincial border effects in Canada

In this paper we suggest an improved methodology for comparing the intensity of trade across and within national and provincial boundaries. Earlier efforts to assess border effects for provinces or for countries without internal trade statistics made fairly arbitrary assumptions about average distances for internal trade flows. We improve on earlier efforts by taking more complete account of the distribution of population within each province or country. Internal distance is estimated as a population-weighted average of intra-city and intercity distances as well as distances to and within rural areas. We find higher estimates of internal distances, and hence border effects, than found in previous studies.     

On the benefits of fiscal policy coordination in a currency union: a note

It is quite often claimed by politicians that a common currency makes it beneficial to be also endowed with a common fiscal policy. However, if fiscal policy can reasonably be considered to be a source of shocks, national fiscal policies which are steered independently from each other are generally preferable because they allow the possibility to diversify macroeconomic risks. Abstracting from automatic stabilizers, this view is valid independent on whether the ECB targets money growth or interest rates.

Home country effects of foreign direct investment: From a small economy to a large economy

Previous studies on home country effects mainly focused on FDI from large developed economies to other countries. But today's super recipient is a relatively larger economy than its investors and many of these investors are not classified as “developed economies.” A simple Ak type model implies that a small and more developed country investing in a large and less developed country will experience decreases in both employment and income disparity (compared to the recipient country) as the less-developed recipient country gains the higher technology of production through FDI inflows. The empirical results for the Four Tigers (source countries) and China (recipient country) are consistent with our theoretical model of FDI outflows. We also find that FDI outflows to China decrease the ratio of exports to GDP only for small source countries, even though a higher investment in China raises the share of these countries' exports-to-China to China's total imports.     

On the dominance of the Keynesian regime in disequilibrium growth theory: A note

This note shows that non-Walrasian disequilibrium models of monetary growth (which are rare) can be considerably simplified in their dynamics if appropriate flexibilities of market economies are taken into account that help to avoid certain types of rationing of economic agents as they are typical for the non-Walrasian modeling of macrodynamics. We consider and modify accordingly an established example of this type of model building and show that propositions on stability and the loss of stability of the then remaining Keynesian regime are much easier to derive and also much more transparent than in their original non-Walrasian setup with its regime switches right at the steady state of the economy.     

On the origin and the literal meaning of monopsony: a note

An examination of the history and etymology of monopsony as a market structure reveals that in the original sense monopsony means a single buyer of food supplies in general, rather than a single buyer of fish as it has been previously asserted. Thus, the proposed interpretation of monopsony deprives it from any derogatory implications, restoring the term to its original meaning.     

Commodity taxation and imperfect competition : A note on the effects of entry

This paper looks at the effects of allowing the number of firms to vary in Seade's model of oligopoly and taxation. We show that the normative and positive consequences of a specific commodity tax are affected by entry in significant ways.