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Missing Gains From Trade
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Book Synopsis Missing Gains from Trade? by : Marc J. Melitz
Download or read book Missing Gains from Trade? written by Marc J. Melitz and published by . This book was released on 2014 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theoretical result that there are welfare gains from trade is a central tenet of international economics. In a class of trade models that satisfy a "gravity equation," the welfare gains from trade can be computed using only the open economy domestic trade share and the elasticity of trade with respect to variable trade costs. The measured welfare gains from trade from this quantitative approach are typically relatively modest. In this paper, we suggest a channel for welfare gains that this quantitative approach typically abstracts from: trade-induced changes in domestic productivity. Using a model of sequential production, in which trade induces a reorganization of production that raises domestic productivity, we show that the welfare gains from trade can become arbitrarily large.
Download or read book Missing Gains from Trade?. written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Gains from Trade and the Gains from Aid by : Murray C. Kemp
Download or read book The Gains from Trade and the Gains from Aid written by Murray C. Kemp and published by Routledge. This book was released on 2002-09-11 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the normative side of trade theory and is divided into five parts: * trade under perfect competition; * restricted trade under perfect competition; * trade under imperfect competition and other distortions; * Compensation: lumpsum, non-lumpsum or neither? * International trade
Book Synopsis Vertical Specialization and Gains from Trade by : Patrick D Alexander
Download or read book Vertical Specialization and Gains from Trade written by Patrick D Alexander and published by . This book was released on 2017 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Multi-stage production is widely recognized as an important feature of the modern global economy. This feature has been incorporated into many state-of-the-art quantitative trade models, and has been shown to deliver significant additional gains from international trade. Meanwhile, specialization across stages of production, or "vertical specialization," has been largely ignored in these models. In this paper, I provide evidence that vertical specialization is a salient feature in the international trade data, which implies that the assumption made in standard models is inaccurate. I then develop a model with multi-stage production where country-level productivity differences provide a basis for vertical specialization and additional global gains from trade beyond those currently accounted for in standard models. I quantify the gains from vertical specialization according to the model. Despite the importance of vertical specialization in the data, I find that the average gains from trade are only slightly higher than the gains suggested by standard models with multistage production. Moreover, much of the impact of across-stage specialization is largely offset by across-sector intermediate input linkages. These results suggest that vertical specialization is not the source of missing gains from trade that have recently confounded trade economists"--Abstract, p. ii.
Book Synopsis World Development Report 2020 by : World Bank
Download or read book World Development Report 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-19 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Book Synopsis Has Globalization Gone Too Far? by : Dani Rodrik
Download or read book Has Globalization Gone Too Far? written by Dani Rodrik and published by Peterson Institute. This book was released on 1997 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Modern Principles of Economics by : Tyler Cowen
Download or read book Modern Principles of Economics written by Tyler Cowen and published by Macmillan. This book was released on 2009-10-09 with total page 850 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the authors:See the Invisible Hand. Understand Your World. That's the tagline of Modern Principles and our teaching philosophy. Nobel laureate Vernon Smith put it this way: At the heart of economics is a scientific mystery… a scientific mystery as deep, fundamental and inspiring as that of the expanding universe or the forces that bind matter… How is order produced from freedom of choice? We want students to be inspired by this mystery and by how economists have begun to solve it. Thus, we show how markets interconnect and respond in surprising ways to changes in resources and preferences. Consider, for example, how markets respond to a reduction in the supply of oil. Of course, the price of oil increases giving consumers an incentive to use less and suppliers an incentive to discover more. But an increase in the price of oil also encourages Brazilian sugar cane farmers to devote more of their production to ethanol and less to sugar thereby driving up the price of sugar. An increase in the price of sugar means a reduction in the quantity of candy demanded. So one way the market responds to a reduction in the supply of oil is by encouraging consumers to eat less candy! In analyses like this, we teach students to see the invisible hand and in so doing to understand their world. Similarly, we offer a unique and simple proof of the amazing invisible hand theorem that without any central direction competitive markets allocate production across firms in a way that minimizes aggregate costs! To understand their world students must understand when self-interest promotes the social interest and when it does not. Thus, Modern Principles has in-depth analyses of externalities, public goods, and ethical issues with market incomes and trade. Moreover, we always discuss economic theory in the context of real world problems such as the decline of the ocean fisheries, climate change, and the shortage of human organs for transplant.
Download or read book Handbook of Commercial Policy written by and published by Elsevier. This book was released on 2016-11-02 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Commercial Policy explores three main topics that permeate the study of commercial policy. The first section presents a broad set of basic empirical facts regarding the pattern and evolution of commercial policy, with the second section investigating the crosscutting legal issues relating to the purpose and design of agreements. Final sections cover key issues of commercial policy in the modern global economy. Every chapter in the book provides coverage from the perspectives of multilateral, and where appropriate, preferential trade agreements. While most other volumes are policy-oriented, this comprehensive guide explores the ways that intellectual thinking and rigor organize research, further making frontier-level synthesis and current theoretical, and empirical, research accessible to all. - Covers the research areas that are critical for understanding how the world of commercial policy has changed, especially over the last 20 years - Presents the way in which research on the topic has evolved - Scrutinizes the economic modeling of bargaining and legal issues - Useful for examining the theory and empirics of commercial policy
Book Synopsis Understanding Credit Derivatives and Related Instruments by : Antulio N. Bomfim
Download or read book Understanding Credit Derivatives and Related Instruments written by Antulio N. Bomfim and published by Academic Press. This book was released on 2015-11-23 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding Credit Derivatives and Related Instruments, Second Edition is an intuitive, rigorous overview that links the practices of valuing and trading credit derivatives with academic theory. Rather than presenting highly technical explorations, the book offers summaries of major subjects and the principal perspectives associated with them. The book's centerpiece is pricing and valuation issues, especially valuation tools and their uses in credit models. Five new chapters cover practices that have become commonplace as a result of the 2008 financial crisis, including standardized premiums and upfront payments. Analyses of regulatory responses to the crisis for the credit derivatives market (Basel III, Dodd-Frank, etc.) include all the necessary statistical and mathematical background for readers to easily follow the pricing topics. Every reader familiar with mid-level mathematics who wants to understand the functioning of the derivatives markets (in both practical and academic contexts) can fully satisfy his or her interests with the comprehensive assessments in this book. - Explores the role that credit derivatives played during the economic crisis, both as hedging instruments and as vehicles that potentially magnified losses for some investors - Comprehensive overview of single-name and multi-name credit derivatives in terms of market specifications, pricing techniques, and regulatory treatment - Updated edition uses current market statistics (market size, market participants, and uses of credit derivatives), covers the application of CDS technology to other asset classes (CMBX, ABX, etc.), and expands the treatment of individual instruments to cover index products, and more
Book Synopsis Mathematical Optimization Theory and Operations Research by : Alexander Kononov
Download or read book Mathematical Optimization Theory and Operations Research written by Alexander Kononov and published by Springer Nature. This book was released on 2020-06-29 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the proceedings of the 19th International Conference on Mathematical Optimization Theory and Operations Research, MOTOR 2020, held in Novosibirsk, Russia, in July 2020. The 31 full papers presented in this volume were carefully reviewed and selected from 102 submissions. The papers are grouped in these topical sections: discrete optimization; mathematical programming; game theory; scheduling problem; heuristics and metaheuristics; and operational research applications.
Book Synopsis Games, Strategies, and Managers by : John McMillan
Download or read book Games, Strategies, and Managers written by John McMillan and published by Oxford University Press. This book was released on 1992 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managers are continually called on to make strategic decisions based on how someone else will act, and react, and this is exactly what game theory was invented to analyze. With the publication of John McMillan's 'Games, Strategies, and Managers, ' managers can now unlock the power of this bold way of thinking. The book strips away distracting details and provides insights into what is really going on in every negotiation and strategic decision.
Book Synopsis Mathematical Optimization Theory and Operations Research by : Panos Pardalos
Download or read book Mathematical Optimization Theory and Operations Research written by Panos Pardalos and published by Springer Nature. This book was released on 2021-06-14 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the proceedings of the 20th International Conference on Mathematical Optimization Theory and Operations Research, MOTOR 2021, held in Irkutsk, Russia, in July 2021. The 29 full papers and 1 short paper presented in this volume were carefully reviewed and selected from 102 submissions. Additionally, 2 full invited papers are presented in the volume. The papers are grouped in the following topical sections: combinatorial optimization; mathematical programming; bilevel optimization; scheduling problems; game theory and optimal control; operational research and mathematical economics; data analysis.
Book Synopsis Prioritizing Development by : Bjorn Lomborg
Download or read book Prioritizing Development written by Bjorn Lomborg and published by Cambridge University Press. This book was released on 2018-06-07 with total page 558 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a unique guide to making the world a better place. Experts apply a critical eye to the United Nations' Sustainable Development agenda, also known as the Global Goals, which will affect the flow of $2.5 trillion of development aid up until 2030. Renowned economists, led by Bjorn Lomborg, determine what pursuing different targets will cost and achieve in social, environmental and economic benefits. There are 169 targets, covering every area of international development – from health to education, sanitation to conflict. Together, these analyses make the case for prioritizing the most effective development investments. A panel of Nobel Laureate economists identify a set of 19 phenomenal development targets, and argue that this would achieve as much as quadrupling the global aid budget.
Book Synopsis Mathematical Optimization Theory and Operations Research by : Igor Bykadorov
Download or read book Mathematical Optimization Theory and Operations Research written by Igor Bykadorov and published by Springer Nature. This book was released on 2019-10-26 with total page 606 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes revised and selected papers from the 18th International Conference on Mathematical Optimization Theory and Operations Research, MOTOR 2019, held in Ekaterinburg, Russia, in July 2019. The 40 full papers and 4 short papers presented in this volume were carefully reviewed and selected from a total of 170 submissions. The papers in the volume are organised according to the following topical headings: combinatorial optimization; game theory and mathematical economics; data mining and computational geometry; integer programming; mathematical programming; operations research; optimal control and applications.
Book Synopsis Climate Change, Trade, and Competitiveness: Is a Collision Inevitable? by : Lael Brainard
Download or read book Climate Change, Trade, and Competitiveness: Is a Collision Inevitable? written by Lael Brainard and published by Rowman & Littlefield. This book was released on 2010-10-01 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brookings Trade Forum provides comprehensive analysis on current and emerging issues of international trade and macroeconomics. Practitioners and academics contribute to each volume, with papers that provide an in-depth look at a particular topic. The 2008/2009 edition focuses on climate policy and its impact on trade. Contents include • Five "Gs": Lessons for Governing Global Climate from World Trade William Antholis (Brookings) • International Trade Law and the Economics of Climate Policy: Evaluating the Legality and Effectiveness of Proposals to Address Competitiveness and Leakage Concerns Jason E. Bordoff (Brookings) • Technology Transfers and Climate Change: International Flows, Barriers, and Frameworks Thomas L. Brewer (Georgetown University) •Addressing the Leakage / Competitiveness Issue in Climate Change Policy Proposals Jeffrey A. Frankel (Harvard University) • The Economic and Environmental Effects of Border Tax Adjustments for Climate Policy Warwick J. Mckibbin and Peter J.Wilcoxen (Brookings) • The Climate Commons and a Global Environment Organization (GEO) C. Ford Runge (University of Minnesota)
Book Synopsis Palgrave Handbook of International Trade by : David Greenaway
Download or read book Palgrave Handbook of International Trade written by David Greenaway and published by Springer. This book was released on 2016-11-09 with total page 727 pages. Available in PDF, EPUB and Kindle. Book excerpt: International trade is the core foundation of globalisation. This current and up-to-date volume brings together the finest academics working in the field today, containing contributions in key areas of policy research, such as, modelling frameworks, trade policy, trade and migration, trade and the environment, trade and unemployment.
Book Synopsis Handbook of Computable General Equilibrium Modeling by : Peter B. Dixon
Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-11-14 with total page 1143 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. - Presents coherent summaries of CGE theories that inform major model types - Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results - Shows how CGE modeling has made a contribution to economic policy
