Download or read book Three Essays on International Trade Policy and Welfare written by Sergey Nigai and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on International Trade and Welfare written by Makoto Okamura and published by . This book was released on 1997 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on International Trade Policy and Political Economy written by Inderjit Kohli and published by . This book was released on 1992 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on International Trade written by Yŏng-gwan Song and published by . This book was released on 2003 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Transfers Trade Policy and Welfare written by Jonathan Munemo and published by . This book was released on 2004 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on International Trade and Multinational Firms written by Nathaniel P. S. Cook and published by . This book was released on 2007 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Welfare Implications of Trade Policies written by Mohammad Shahid Alam and published by . This book was released on 1979 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Oligopolistic Competition Product Differentiation and International Trade written by Fayçal Régis Sinaceur and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Thesis presents three essays in the area of strategic trade theory and policy. The first essay presents an analysis of trade and welfare between countries with asymmetric conditions. A two-period two-country address model of product differentiation is examined in which firms face an initial period of autarky. Trade takes place in the subsequent period and firms fully anticipate switches in trade regimes. Results suggest that historical (domestic) conditions matter a lot on the international market place. Firms that come from countries with a larger market tend to develop longer product lines, which puts that country in a dominant position in international competition. The model is also used to analyse gains/losses from trade in relation to country size. The second essay investigates the differential effects of specific and ad-valorem tariffs on quality, price and welfare in an oligopolistic industry consisting of foreign and domestic firms. These effects are shown to depend on the location of the home and foreign firms in the quality spectrum. Both tariffs are ranked and conditions for either tariff to be welfare superior are derived. Finally, the third essay presents an analysis of trade policy with endogenous market structure. A "third market model" is specified. Using a simple framework in which industry structure is derived endogenously as the outcome of product line decisions by firms, we show that governments have an incentive to affect the equilibrium product composition by setting non-zero subsidy rates in order to maximize domestic welfare. Subsidies may be uniform or non-uniform across goods and the optimal policy exhibits strong discontinuities as domestic welfare maximization implies a switch of regimes.

Download or read book Three Essays on International Agreements on Trade Policies written by Takeshi Yamaguchi and published by . This book was released on 2006 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on International Trade and Policy written by Mian Muhammad Farrukh Raza and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Leaders around the world have introduced various trade policies including subsidies, tariffs, anti-dumping duties or price undertakings throughout the trade history. These trade policies have benefitted states in different ways. For example, some countries achieved economic development by supporting their firms through various subsidies and helping them to enhance their product qualities and become competitive in the international market. Whereas, in other cases leaders engage in imposing tariffs - a policy helps leaders to protect their producers and generate revenue. Such trade policies are not only limited to the benefits; however, they may incur costs too. As such, the imposition of trade policies affects the social welfare of all parties engaged in trade. Recently, we have seen that US-China engaged in a trade war where the United States has imposed tariff duties against China, and China responded with its tariffs on US products. This trade war has affected the social welfare one way or another. Such trade practices in the past have led scholars to address questions related to trade policies. Despite the work on trade policies, there is still a wide variety of questions yet to be answered regarding trade policies. This dissertation address three important questions related to international trade policies and their impact on social welfare. The first chapter is motivated by the observation of the quality difference between imported and local products in Pakistan. This chapter addresses the question of whether import-competing markets where foreign products are of high quality, are domestic firms doomed to produce low-quality products? What are policy options available to an importing country government that has the multiple objectives of maximizing consumer surplus, domestic profit and welfare, besides generating product quality reversal? Using a duopoly framework of vertical product differentiation, we analyze and compare three policy options: an import tariff, free trade, and a quality-upgrading R&D subsidy. We identify the conditions under which the quality-based R&D subsidy policy is a win-win-win strategy in that consumer surplus, domestic profit, and social welfare are all at their maximum levels, in addition to product quality reversal. The second chapter is motivated by the contemporary US-China trade war and its welfare implications. This paper analyzes differences in welfare implications between import tariffs and antidumping (AD) duties within a unified model of trade in quality-differentiated products under international duopoly. Specifically, the model allows for product quality choices by two competing firms located separately in a developed country (DC) and a less-developed country (LDC), where there is a different degree of international market competition. We show that dumping arises as an LDC firm sells a low-quality product that is "dumped" into the DC market. Compared to import tariffs, imposing AD duties (based on the dumping margin) by the DC government makes its firm better off. Whether DC consumers are better off and whether there is welfare improvement for DC are shown to depend on the degree of market competition. We further identify conditions under which a tariff policy is preferred over an AD policy (or the other way around) from the world perspective of welfare. The third paper investigates which types of firms (DC or LDC) tend to practice dumping, using a two-market equilibrium model of trade in "like" products with quality differentiation. Specifically, within the framework of duopolistic competition between a DC firm and an LDC firm, we show that the DC firm sells a high-quality product without practicing dumping. In contrast, the LDC firm sells a low-quality product that is dumped into the DC market at a price less than the price of the product in its LDC market. The imposition of antidumping duties by the DC government increases domestic welfare. It is welfare increasing to LDC when its exporting firm accepts a price-undertaking, rather than practicing dumping. From the perspective of world welfare, defined by aggregating the welfare of DC and LDC as trading partners, the trade damage measure of an antidumping policy is Pareto superior to free trade (under which dumping takes place) and price-undertakings.

Download or read book Three Essays on International Trade Competition and Trade written by Tŏk-kŭn An and published by . This book was released on 1996 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on the Possibility of Welfare reducing Trade written by Albert Chen Hsu and published by . This book was released on 1994 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays in International Trade Theory and Policy written by Ruben Sargsyan and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Concerns over the possible loss of government revenue resulting from tariff reductions under trade liberalization have triggered many developing countries to opt for a strategy of raising destination-based consumption taxes on tradable goods. The first essay analyzes the welfare effects of a coordinated tariff reduction and domestic tax reform when the objective of a reforming country is to keep its government revenue unchanged. Assuming imperfect competition in an import-competing industry, we find that revenue-neutral reform involving tariff reduction and an increase in domestic tax rate may reduce domestic welfare under plausible assumptions. It also discusses the scenario in which the reforming country's objective is to keep domestic profit (or production) unchanged. We further identify the conditions under which a profit-neutral tariff and tax reform may be welfare-improving or welfare-deteriorating. The second essay uses a reciprocal-dumping model to examine the welfare effects of the Byrd Amendment (i.e., the Continued Dumping and Subsidy Offset Act, or CDSOA). It analyzes the differences in optimal tariffs set by the home and foreign governments when the home (i.e., the U.S.) government redistributes anti-dumping duties to its domestic firm under the new trade law, as compared to the traditional antidumping policy under which these duties are government revenues. We derive conditions under which the CDSOA may raise or lower the price of an import-competing good in the U.S. market. The results show that the CDSOA is an instrument of protectionism and strictly improves the home country welfare when markets are less competitive than in Cournot equilibrium. We find that under the same market characteristics, the new trade law strictly reduces foreign country welfare. The CDSOA's welfare effect is shown to be ambiguous, however, when markets are more competitive than Cournot. The third essay modifies the model presented in Essay 2 to allow for the scenario in which the foreign country strategically responds to the home country's CDSOA law by adopting similar trade law. The results show that the foreign country is able to enhance its national welfare when the import-competing markets are less competitive than in the Cournot equilibrium. We also discuss whether it is welfare-improving for the U.S. to voluntarily repeal the Byrd Amendment and restore the traditional antidumping policy, considering that, otherwise, its trading partner may also adopt the CDSOA law. We find that it is still in the best interest to the U.S. not to revoke the Byrd Amendment when markets are less competitive than Cournot. When markets are more competitive than Cournot, however, repealing the Amendment may turn out to be socially welfare-improving.

Download or read book Essays on International Trade and Development written by Yingyan Zhao and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: My studies focus on the welfare implications of market frictions and policy distortions. This dissertation includes three chapters on international trade and development economics. Based on empirical evidence found in data, I build and estimate theoretical models which can be used further to quantify policy implications. My research includes both positive and normative analysis.In Chapter 1, I study how information asymmetry affects trade and what is the policy implication. The problems of moral hazard and adverse selection can seriously impede the development of export markets for firms from less developed countries. Importing firms have little recourse in developing country courts should their suppliers provide sub-quality goods, and they face great difficulty in distinguishing good firms from bad ones. My paper is the first to develop and estimate a dynamic structural model that incorporates both features of asymmetric information, namely moral hazard and adverse selection. In the model, the information asymmetry is high for new entrants but then gradually fades as idiosyncratic fixed cost shocks drive inefficient firms from the market. Thus, a firm's tenure in export markets is a signal of its efficiency, and consequently the price that it can obtain rises with tenure. Market-wide shocks to fixed costs, as occur when product safety regulations are imposed, flatten the price-tenure gradient as they disproportionately induce inefficient firms to exit. Using a triple-difference strategy, I show that these predictions hold in firm-level Chinese export data. This variation in the data also allows me to estimate my model and use it for counterfactual analysis. I show that the problem of information asymmetry is severe for Chinese entrants into export markets and that the problem is made worse by government export subsidies. Reducing these subsidies would raise aggregate export profits for Chinese firms.In Chapter 2, I study the welfare implication of location-based policies in a general equilibrium framework. Location-based policies are put in place in many countries to promote local economies. Based on Chinese Manufacturing Survey data, we see that there exist significant differences in corporate income tax rates across regions and across industries within a region. Hence, the location-based policy that we study here is the preferential corporate income tax rate that is offered by local Chinese governments to attract firms. We use a general equilibrium model, that takes into account both the creation and diversion of economic activity across space, to study the welfare implications of this policy in China. Our model is characterized by two agglomeration forces: Marshallian externalities and input-output linkages. Heterogeneous firms choose their production locations based on the above forces of agglomeration, the corporate income tax rate, wages and market access. After calibrating the model to the data, we find that this policy reduces aggregate welfare by 0.26% relative to the scenario in which corporate income taxes are equal across regions and across industries within a region. Both agglomeration forces play an important role. Preferential tax rates in underdeveloped areas attract firms away from more developed areas, thereby preventing them from exploiting the efficiency gains due to agglomeration. If agglomeration was not considered, then the welfare loss would have been underestimated by 59%.In Chapter 3, using high quality administrative data on Greece we show that class size has a hump shaped effect on achievement. We do so both nonparametrically and parametrically, while controlling for potential endogeneity and allowing for quantile effects. We then embed our estimates for this relationship in a dynamic structural model with costs of hiring and firing.We argue that the linear specification form used in past work may be why it found mixed results. Our work suggests that while discrete reductions in class size may have mixed effects, discrete increases are likely to have very negative effects while marginal changes in class size would have small negative effects.We find optimal class sizes around 27 in the absence of adjustment costs and achievement maximizing ones around 15, and firing costs much larger than hiring costs consistent with the presence of unions. Despite this, reducing firing costs actually reduces achievement. Reducing hiring costs raises achievement and reduces class size. We show that class size caps are costly, and more so for small schools, even when set at levels well above average.

Download or read book Three Essays on International Economics written by Sihwan Yang and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation examines the role of invoicing currency and input-output (I-O) linkages between countries in the global economy. The way in which countries trade intermediate goods can serve as a transmission channel for propagating shocks, and in a sticky price environment, the currency used for bilateral trade transactions can have significant implications for exchange rate pass-through. The first chapter proposes a two-country static model in which countries trade final and intermediate goods with an exogenous invoicing currency. Through the lens of the model, an analytical framework is provided for how exogenous shocks affect prices, quantities, and global trade. The second chapter extends the baseline model to a quantitative multi-country model calibrated by data. Counterfactual analysis of the model suggests that expenditure switching in the calibrated model is muted by half compared to a model with full dollar invoicing. The last chapter constructs a multi-country, multi-sector model to analyze the impact of sanctions on Russian exports on global economy. Simulation results suggest that import restrictions imposed by Western countries on Russian energy exports can have varying effects on different countries. When Russia can redirect its exports to other countries under sanctions, export redirection benefits Russia's welfare, while most other countries experience a decline in welfareChapter 1 explores the role of input-output (I-O) linkages and invoicing currency in global trade. To this end, a theoretical model is proposed in which two countries, Home and the Rest of the World (ROW), engage in a bilateral trade transaction, with the United States (US) acting as the dominant currency country. The primary objective of the model is to analyze the impact of dollar appreciation resulting from contractionary US monetary policy on global trade, taking into account exogenous invoicing currency and I-O linkages. The baseline model suggests that the global trade response is dependent on the interaction between dollar invoicing shares and foreign intermediate input shares. Chapter 2 studies whether world trade is close to local currency pricing (LCP) or dominant currency pricing (DCP) using a quantitative model with calibrations. Recent literature has focused on the empirical fact that global trade is dominantly invoiced in a few currencies such as the US dollar or Euro. While the majority of international trade is intermediate goods trade, there is a conflicting opinion that questions if DCP prices at the border are allocative since final goods prices are sticky in local currency (LCP). Simulation results suggest that the global trade response to dollar appreciation of the calibrated model lies between the responses under a full DCP and full LCP model. Chapter 3 examines the impact of economic sanctions on Russian exports and the subsequent trade and welfare responses of countries using a calibrated model introduced by Baqaee and Farhi (2022). The results indicate that import restrictions imposed by Western countries on Russian energy exports can lead to negative welfare effects for these countries, particularly for EU nations heavily reliant on Russian energy imports. However, the impact on the overall world economy is quantitatively small, as Russia can redirect its exports to non-Western countries. Additionally, the analysis demonstrates that the welfare response of countries is influenced by the ability for Russian to redirect exports to another destination countries such as China, and trade elasticities, with less substitutability of goods across countries resulting in a more detrimental impact on Russia's welfare.

Download or read book Three Essays on International Trade in China written by Songhua Lin and published by . This book was released on 2002 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Technology Trade and Welfare written by Jun Ruan and published by . This book was released on 2008 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technology is a key determinant of comparative advantage among nations. As information technology improves and the nations of the world become economically integrated, concern arises over the dissipation of high-income economies' technological advantage. The three essays in this dissertation explore the trade and technology relationship, which is essential to economic growth in both high-and low-income nations. The first essay employs a monopolistic competition framework to investigate the effects -- on each country's relative wages, share of global markets, and welfare -- of the productivity convergence between a technological leader and follower. Results indicate technological convergence improves the follower's competitiveness at the expense of the leader's. Nevertheless, the leader's welfare improves unambiguously on account of the increase in its terms of trade, while the follower's welfare changes in a direction depending on the relative strength of convergence's income and terms-of-trade effects. We use data from 17 food industries in 30 countries, 1993-2001, to test these analytical predictions. Convergence has lifted followers' income and global value-added share. Followers' welfare has risen since convergence's income improvement has outweighed its terms-of-trade deterioration. Simultaneously, leaders' welfare has improved in response to their improved terms of trade. The second essay employs data from 35 countries in 128 ISIC 4-digit manufacturing industries, 1993 - 2001, to test the empirical validity of these same hypotheses for the international manufacturing sector. We find that, just as in the food sector, convergence improves followers' welfare through its positive income effects. However, we do not find empirical evidence of convergence's terms-of-trade effects. The third essay examines trade liberalization's effects on the geographical distribution of productivity, and consequent cross-country resource and market-share allocations, of five processed food industries. We find that the mean and other quantiles of the global productivity distribution shift to the right as international trade liberalizes. The latter result implies that resources are reallocated toward countries with faster productivity growth. The three essays jointly highlight the important influence of global integration and technological convergence on nations' economic growth and well-being. However, policies promoting integration and convergence should pay attention to the consequent intra-country redistribution of income between producers and consumers.