Digital Commons Network^™

Vulnerable Trade: The Dark Side Of An Edgeworth Box, Charles Anderton, John Carter

Economics Department Working Papers

We examine incentives to seize and defend goods offered for trade in an Edgeworth box economy. Appropriation possibilities generate an equilibrium of coerced redistribution and voluntary trade in a reduced box. Potential mutual gains remain untaken because the prospect of piracy creates a price wedge, wherein the effective relative price is lowered for the exporter and raised for the importer. As the vulnerability of one or both goods increases, the price wedge widens, causing trade to diminish. If vulnerability becomes sufficiently high, then trade and appropriation are driven to zero, or one or both players are rendered indifferent to trade.

Strategic Labeling And Trade Of Gmos, Luc Veyssiere, Konstantinos Giannakas

Department of Agricultural Economics: Faculty Publications

The emergence of agricultural biotechnology and the subsequent introduction of genetically modified organisms (GMOs) into the food system have been among the most controversial issues surrounding the increasingly scrutinized agri-food system. They have received considerable attention in the economics literature with the main focus being on the optimal regulatory response to products of biotechnology. This paper builds on the literature on the regulation of products of biotechnology by placing the analysis of labeling decisions in a multi-country context. Specifically, the objective of this study is to examine the effect of the strategic interdependence between countries on their regulatory responses to …

2003-02 Short And Long Run Decompositions Of Oecd Wage Inequality Changes, T Huw Edwards, John Whalley

Department of Economics Research Reports

No abstract provided.

University Technology Transfer And Economic Development: Proposed Cooperative Economic Development Agreements Under The Bayh Dole Act, Clovia Hamilton

Winthrop Faculty and Staff Publications

Technology transfer enables private industry and academia to make practical use of advanced research, development, and technical expertise. Indeed, universities are a rich source of science and technology that can support local government and business development as well as economic growth. Thus, it is essential for research universities to transfer their wisdom to the public for its use and benefit. Today, universities operate in an economic climate that requires both capital and knowledge; takes advantage of government technology initiatives (namely the Bayh- Dole Act);' and serves as a catalyst for the creation of a large number of new, incubated companies. …

High-Tech Transportation Corridors Are In Vogue: Proposed Federal Transportation Policy Amendments, Clovia Hamilton

Winthrop Faculty and Staff Publications

When there is an economic downturn, cities are forced to develop a strategy to revitalize. Increasing the transfer of high technology into the marketplace stimulates the economy. High tech industries are industries that include relatively high percentages of scientific and technical workers, or industries that make relatively large expenditures in research and development. "[I]n difficult economic times, political stakeholders in the technology transfer process usually view success in economic impact terms, and often from short-term and parochial perspectives-how many jobs in my state next year?" Examples include the expansion of the suburban space economy in the 1980s that produced new …

The New Face Of Unequal Exchange: Low-Wage Manufacturing, Commodity Chains, And Global Inequality, James Heintz

PERI Working Papers

The institutional structure of global commodity chains and cross-border production networks has a profound impact on how the benefits of globalized production are distributed. This paper engages with this issue by developing a model that combines the insights of earlier unequal exchange theorists and new work on global commodity chains to clarify the distributive dynamics of the expansion of low-wage manufacturing in the developing world. In this framework, the ability of productivity-led development to raise employment incomes in low-wage manufacturing is constrained and depends on how the benefits of productivity improvements are captured – as lower prices for consumers or …

2002-6 Border Delays And Trade Liberalization, Edgar Cudmore, John Whalley

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

International Finance In General Equilibrium, John Geanakoplos, Dimitrios P. Tsomocos

Cowles Foundation Discussion Papers

Our purpose in this paper is to unify international trade and finance in a single general equilibrium model. Our model is rich enough to include multiple commodities (including traded and nontraded goods), heterogeneous consumers in each country, multiple time periods, multiple credit markets, and multiple currencies. Yet our model is simple enough to be effectively computable. We explicitly calculate the financial and real effects of changes in tariffs, productivity, and preferences, as well as the effects of monetary and fiscal policy. We maintain agent optimization, rational expectations, and market clearing (i.e., perfect competition with flexible prices) throughout. But because of …

Quality Of Life Related To Fear Of Falling And Hip Fracture In Older Women: A Time Trade Off Study, Glenn P. Salkeld, Ian D. Cameron, Robert Cumming, S Easter, J Seymour, S E. Kurrle, S Quine

Faculty of Social Sciences - Papers (Archive)

OBJECTIVE:

To estimate the utility (preference for health) associated with hip fracture and fear of falling among older women.

DESIGN:

Quality of life survey with the time trade off technique. The technique derives an estimate of preference for health states by finding the point at which respondents show no preference between a longer but lower quality of life and a shorter time in full health.

SETTING:

A randomised trial of external hip protectors for older women at risk of hip fracture.

PARTICIPANTS:

194 women aged >/= 75 years enrolled in the randomised controlled trial or who were eligible for the …

The Usa In The World Trading System, Sven W. Arndt

CMC Faculty Publications and Research

The USA has been an important player on the post-war world economic stage, but for much of that period what happened in the world economy was not of much consequence to the majority of the country's citizens. Trade was, and in many ways still is, a small part of overall economic activity. To assess the importance of trade one has to go to sector- and industry-specific levels, where shifts in world demand and supply can affect wages, profits, employment and output. The public at large has a general sense that the US economy is becoming more 'globalized' and that this …

Livestock And Meat Trade; Sheep And Lamb Outlook, Gene Murra, Gene Murra

Economics Commentator

No abstract provided.

Embodying The Nation: Filipino Pictorial Moments Of The 1994 Gatt Treaty Debate, Filomeno V. Aguilar Jr

History Department Faculty Publications

A fortnight after the Philippine Senate ratified the Uruguay Round of the General Agreement on Tariffs and Trade (GAT) and three days before the annual observance of national hero Jose Rizal's martyrdom, the intertwining of body and nation was given visual expression by a libidinous prankster. At around 10:45 AM of 27 December 1994, Manila's Channel 13 aired an abbreviated segment of a pornographic tape that was unlike any other, for it had been suitably edited to match the lyrics of the Philippine national anthem.' Conveniently tucked at the end of a two-yearald anti-drug abuse video clip, the tape's music …

Gatt, Dispute Settlement And Cooperation: A Reply, Dan Kovenock, Marie Thursby

Economics Faculty Articles and Research

In our 1992 paper, we analyzed GATT and its dispute settlement procedure (DSP) in the context of a supergame model of international trade featuring both explicit (GATT) and implicit (non-GATT) agreements. Our paper departed from the previous economics literature on GATT enforcement (see, for instance Hungerford (1991) and Ludema (1990)) by incorporating the ``twin engines of international obligation and retaliation'' (Hudec, 1990). International obligation imposed a cost of violating an explicit international agreement, such as GATT, while retaliation could take place either within the rules stipulated by the international agreement or by punishment outside of the agreement. In Section 2 …

South Carolina Shipbuilding In The Age Of Sail - Part 2, Carl Naylor

Faculty & Staff Publications

No abstract provided.

Roles And Limitations Of Enterprise Diversification; Hog Outlook, Donald C. Taylor, Gene Murra

Economics Commentator

No abstract provided.

Exchange Rate And Income Effects On South Korean Exports: The Us Case, Heather M. O'Neill, William Ross

Business and Economics Faculty Publications

This paper analyzes econometrically the effects of direct and cross exchange rates as well as US income and Korean supply developments on the volume of Korean exports to the US. The results suggest that US demand has been the most important factor in the growth of Korean exports to the US in recent years. However, direct exchange rate effects are also important; the estimates suggest that for 1989-90, a yearly 10% real appreciation of the won against the dollar would have lowered export volume by about 10% per year relative to a baseline case. Cross exchange rate effects run counter …

Local Merchants And The Regional Economy Of The Connecticut River Valley, Gerald F. Reid

Sociology Faculty Publications

This paper focuses on valley/hill town interactions and regional economic processes in the upper Connecticut River Valley of Massachusetts during the late eighteenth and early nineteenth centuries. Merchants, those individuals involved in the trading and movement of commodities, are an especially useful point of departure for investigating such concerns because they operated in the economic space between communities, towns, and regions. Attention to their activities is likely to tell us a good deal about economic interaction across space and" over long distances in early America and, specifically, about economic interactions between valley towns and hill towns in the Connecticut River …

Aspects Of Countertrade And Development, William Rieber

Scholarship and Professional Work - Business

Countertrade or international barter has enjoyed a flourish of activity during the 1980s. Some authors have suggested that countertrade is an effective development tool for third world countries and indeed represents the beginning of a rearrangement of the international economic order in favor of lesser developed. countries....On the other hand, others have suggested that countertrade is an aberration reflecting a misguided understanding of international trade and finance by LDC policymakers.

Book Review. United States Japan Foreign Trade, Jo Bell Whitlatch

Faculty Publications

No abstract provided.

Trade And Financial Interdependence In The World Economy, Sven W. Arndt, Lawrence Bouton

CMC Faculty Publications and Research

With regard to the trading order, questions have arisen about the benefits from freer trade at a time when more countries are turning to managed trade and protectionist sentiment is on the rise. Some believe that the international financial system, for its part, no longer facilitates the transactions of goods but dominates them. This article discusses these issues and addresses the policy options available to government leaders.

Policy Interdependence, Causality And Supply Response In World Markets: The Case Of U.S. And Australian Tobacco, Steven Blank

Economics Staff Paper Series

The economic impact of international policy interdependence is illustrated using the world tobacco market as an example. The price discovery process is assessed using U.S. and Australian data. It appears that world tobacco prices are set through an oligopolistic rule-of-thumb pricing system with the U.S. being the tacit price leader. As a result, there has been a causal relationship between U.S. and Australian tobacco prices . However, no direct supply response to U.S. prices was observed in Australian markets.

Exports In South Dakota's Agricultural Economy, Arthur B. Sogn

Economics Commentator

No abstract provided.

The Other Somalia Part 1 - Illicit Trade And The Hidden Economy, Norman Miller

Dartmouth Scholarship

In the hot, dry, strangely beautiful land of Somalia, the first issue of the day is politics: politics of survival for the Barre regime, politics of food for the burgeoning refugee camps, politics of the East-West encounter here on the Horn of Africa. The other issue is the economy, particularly the invisible, irregular, illegal economy. Somalia's story is roughly comparable to the current "second economy” analysis of the Soviet Union which suggests a large sector of that system is extralegal, undercover, and in subversion of bureaucratic regulation-"the taxi driver can arrange it" system.

1. The Revival Of Commerce, Robert L. Bloom, Basil L. Crapster, Harold A. Dunkelberger, Charles H. Glatfelter, Richard T. Mara, Norman E. Richardson, W. Richard Schubart

Section V: The Rise of Capitalism and the National State to 1500

Throughout the Middle Ages, and indeed until quite recent times, Europe's economy was primarily agrarian. From the eleventh century onward however, commerce followed by manufacturing and urbanization, became increasingly characteristic of Western Europe's society. But the old made way for the new so slowly that the shift may be clearly discerned only through the lengthened perspective of the years. [excerpt]