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81.
    
A gravity model is developed to explain bilateral trade flows in primary and processed commodities within the same agri-food supply chain. It accounts for vertical production linkages, trade and domestic policies, and supply rigidities at the farm level. Our application focuses on cattle/beef trade flows between 42 countries. The estimated parameters of the model are used to simulate trade flows. We found large differences in the impacts of the full and partial liberalization scenarios. A parametric bootstrap procedure is used to generate confidence intervals around predicted trade liberalization outcomes.  相似文献   
82.
    
While the long-ranged correlation of market orders and their impact on prices has been relatively well studied in the literature, the corresponding studies of limit orders and cancellations are scarce. We provide here an empirical study of the cross-correlation between all these different events, and their respective impact on future price changes. We define and extract from the data the ‘bare’ impact these events would have if they were to happen in isolation. For large tick stocks, we show that a model where the bare impact of all events is permanent and non-fluctuating is in good agreement with the data. For small tick stocks, however, bare impacts must contain a history-dependent part, reflecting the internal fluctuations of the order book. We show that this effect can be accurately described by an autoregressive model of the past order flow. This framework allows us to decompose the impact of an event into three parts: an instantaneous jump component, the modification of the future rates of the different events, and the modification of the jump sizes of future events. We compare in detail the present formalism with the temporary impact model that was proposed earlier to describe the impact of market orders when other types of events are not observed. Finally, we extend the model to describe the dynamics of the bid–ask spread.  相似文献   
83.
Journal of Productivity Analysis - Gross domestic product (GDP) has come under criticism as the only objective that countries should pursue for societal well-being. In this paper we apply an...  相似文献   
84.
As recent studies on the evolution of a technology indicate, the role of a standard, or dominant design, is highly significant in a number of contemporary industries such as computer, telecommunications and consumer electronics. Following Katz' and Shapiro's pioneering works (1985), our paper rationally evaluates the concepts and results developed over the past ten years in this field. It is grounded on a typology of two types of models: the first is based on users' anticipatory behaviour, and the second, on the collaborative behaviour of existing firms. The article initially discusses the specificity of network technologies, then analyses market standardisation models, and finally, studies the different actors models. Our conclusion builds upon existing works in network technologies. We next propose a research agenda  相似文献   
85.
本文从研发投资、公司融资、劳动合同及社会保障等五个方面剖析了欧洲各国制度的差异和多样性.与大一统的国家如美国相比较而言,这种多样性和差异虽在一定程度上制约了欧洲的发展,但也是欧洲发展的潜力所在,关键是各国在决策时应充分考虑到多样性的存在,并对此加以积极协调,进而推动经济发展.  相似文献   
86.
Tariff-Rate Quotas (TRQs) were introduced at the outset of the Uruguay Round to support market access following the tariffication of non-tariff barriers to trade in agriculture. TRQs created an administrative mess in which governments often discretionarily allocate import licenses to private and/or public firms. Numerous papers describe the arbitrarily chosen procedures used to allocate licenses in different countries and the resulting distorted trade patterns. However, few research efforts have formally studied the impacts of different administrative methods on welfare. Due to significant spreads between domestic and world prices, the administration of import licenses can have important strategic effects under imperfect competition. We propose a simple theoretical framework to highlight the various economic implications of two methods used by WTO members: the historical allocation and the first-come-first-serve procedures. These two methods differ in their discretionary degree and, under imperfect competition, lead to different welfare implications depending on the structural parameters of an industry. Numerical simulations are provided to illustrate our findings  相似文献   
87.
Abstract

The importance of agriculture in sub‐Saharan Africa, and the somewhat lagging development in other activities, suggests that particular significance attaches to the arrest of the drawn out crisis of agricultural production. Two opposing suggestions which are often made are that this is a matter either of price incentives, or of fundamental change designed to remove many infrastructural constraints and the lack of provision of other essential services. The issues are pursued, first, by an appraisal of the evidence relating to agricultural supply response. The long‐run response to price incentives is probably rather low, but it is suggested that it is very often constrained by non‐price factors. The paper then assesses the importance of infrastructural constraints, particularly in transport and communications. It is argued that the choices between improving price incentives and the need for infrastructure and other provision are not absolute since complementarities are important. Both, in effect, can also compete for public funds. The dilemma is particularly acute in sub‐Saharan Africa since low population densities and long distances result in the costs of transport and other essential services being comparatively high. It is therefore all the more necessary to seek cost‐effective ways of improving provision in order to maximize the impact on farm output. The paper suggests a number of ways in which this can be done, notably by better utilization of existing infrastructure.  相似文献   
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