Unequal factor prices and incomplete specialization in a Heckscher-Ohlin model of endogenous growth

Two-factors, two-goods Heckscher-Ohlin trade theory predicts that under certain circumstances factor prices equalize if countries are incompletely specialized. If at least one country is completely specialized no factor-price equalization obtains. Different factor rewards and free trade, however, are not automatically linked to complete specialization: in a Heckscher-Ohlin model of endogenous growth where the countries differ in their individual discount rates, a situation of incomplete specialization and different factor rewards will result.     

Price Competition and Product Differentiation when Goods have Network Effects

Abstract. The objective of our approach is to develop a model that captures horizontal product differentiation under environmental awareness with price competition whereby environmentally friendly products are costlier to produce. As an example, we refer to automobile producers offering cars with a gasoline-powered engine and one with a natural gas-powered engine. The network of petrol stations provides the complementary good. We use a two-stage game in prices and characteristics to analyse the market structure. In order to find out whether a private decision on the type of engine coincides with a socially optimal product differentiation, we determine the position of the two types of engine by a welfare-maximizing authority.     

Relative Price Changes, Wages and Unemployment in a Specific Factors Model with Search Frictions

This paper analyzes the effects of changes in the relative product price on wages and unemployment of a small open economy in a specific factors model characterized by search frictions. It shows that unemployment and wages move in opposite directions, i.e., high unemployment is associated with low wages and low unemployment with high wages. The reason for the employment effect is found to be individual wage bargaining.     

Efficient priority rules

We study the assignment of indivisible objects with quotas (universities, jobs, or offices) to a set of agents (students, job applicants, or professors). Each agent receives at most one object and monetary compensations are not possible. We characterize efficient priority rules by efficiency, strategy-proofness, and reallocation-consistency. Such a rule respects an acyclic priority structure and the allocations are determined using the deferred acceptance algorithm.     

Portfolio selection by Austrian insurance companies

Zusammenfassung Ausgehend von einem modifizierten Modell vonParkin (1970) wird versucht, das Anlageverhalten der österreichischen Vertragsversicherungen ökonometrisch zu erfassen. In diesem Modell wird das gewünschte Portefeuille abhängig von den erwarteten Ertragsraten der einzelnen Aktiva gemacht. Um diesen Ansatz auf Daten anwenden zu können, sind Annahmen über den Zusammenhang von tatsächlichem und gewünschtem Portefeuille sowie über die Erwartungsbildung notwendig. In dieser Arbeit wurden der Stockanpassungsmechanismus und der marginale Anpassungsmechanismus sowie unitäre und rationale Erwartungen näher untersucht.Die Anwendung dieser Modelle auf Daten der österreichischen Versicherungswirtschaft im Zeitraum 1973 bis 1982 zeigt, daß der marginale Anpassungsmechanismus besser geeignet ist, die Enge der heimischen Finanzmärkte wiederzugeben, und daß unitäre Erwartungen rationalen vorzuziehen sind. Im Gegensatz zu Wertpapieren und Forderungen, die zueinander Substitute sind, herrscht bei den Einlagen das Transaktionsmotiv vor, sodaß für diese Position das Portfoliomodell wenig geeignet erscheint. Es ist jedoch nicht auszuschließen, daß die Ergebnisse stark von institutionellen Gegebenheiten beeinflußt worden sind.

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The author is indebted to G. Winckler for helpful discussions.     

Alternativen der Verbraucherorganisation

Ohne Zusammenfassung     

伯尔尼市21世纪发展规划

伯尔尼市是瑞士首都和联邦政府及行政管理机构所在地。它是一个生产力高度发达的地区经济中心 ,全市拥有人口３０万 ,就业岗位２１万个 ,工商企业１ ７万家。伯尔尼市拥有强大的竞争实力。伯尔尼大学里活跃在各个领域的研究队伍都居于世界的学科前沿。众多的公司在国际贸易中表现不凡。许多企业 ,特别是在制药技术和通讯领域的一流企业 ,即使以国际标准去衡量也是顶级企业。生产力和承载力是实现健康发展的两个最重要的条件。创新和对未来发展充满信心也是非常重要的先决条件。以下三项工程的建设 ,作为推动创新的强大动力 ,将使我们这座城…     

Transfer of technology by German firms

Outside the USA little empirical work has been done to assess the impact of technology transfers on the economic performance of transferring countries. The following considerations are concerned with the transfer of technology by German firms.