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Technology, Common Inputs, And Public Policies In Developing Countries, Ka-Yiu Fung
Technology, Common Inputs, And Public Policies In Developing Countries, Ka-Yiu Fung
Digitized Theses
The thesis consists of three essays. In the first essay, a two-final-good and knowledge-based growth model is built to study the patterns of economic growth in a SOE. The source of economic growth is the introduction of new intermediate goods as a result of R&D, which in turn generates dynamic IRS in both the production of one final good and R&D. The results obtained in the model are consistent with intercountry differences in growth patterns.;The second essay constructs a simple model to study how technology transfer (through foreign direct investment or licensing of technology) affects R&D intensity of domestic firms …
Collusive Pricing With Incomplete Information, Chantale Lacasse
Collusive Pricing With Incomplete Information, Chantale Lacasse
Digitized Theses
Fudenberg and Maskin (1986) find that any feasible and individually rational payoff can be supported by subgame perfect equilibrium strategies in an infinitely repeated game with complete information, if the discount rate is low enough. An analogous result holds for the case of finitely repeated games (Benoi t and Krishna (1985)).;These results imply that, if a cartel forms, it will have no difficulty maintaining its collusive agreement. The first part of the thesis investigates when agents choose to collude given the benefits of collusion (cooperative payoffs dominate non-cooperative payoffs) and its cost (agents risk government prosecution). We choose the context …
Essays On Negotiation And Renegotiation, Quan Wen
Essays On Negotiation And Renegotiation, Quan Wen
Digitized Theses
This dissertation consists of two essays related to negotiation and renegotiation in game theory. They investigate the renegotiation-proof equilibria in finitely repeated games and subgame perfect equilibria in negotiation games, respectively.;The renegotiation-proof equilibria in finitely repeated games with many players are studied in the first essay. Renegotiation-proof equilibrium requires not only subgame perfectness but also subgame efficiency. The main result of Benoi t and Krishna (1988) who studied the renegotiation-proof equilibria in two-player finitely repeated games does not apply to the games with more than two players. One sufficient condition for renegotiation-proof equilibria to be Pareto optimal in finitely repeated …
Three Essays On Non-Market Resource Allocation Mechanisms, Lijing Zhu
Three Essays On Non-Market Resource Allocation Mechanisms, Lijing Zhu
Digitized Theses
This thesis consists of three essays. In the first essay, I apply the first-price auction theory to investigate equilibrium queuing behavior, rent distribution, and rent dissipation given that the underpriced consumer goods are distributed through queuing and random allocation mechanisms. Four major results are obtained. First, using the generalized first-price auction framework, two existing queuing models in the literature are unified. Second, it is shown that the equilibrium queuing time can be shorter with a secondary market than without. Third, with rationing by queuing as the allocation mechanism, the emergence of secondary markets does not necessarily lead to Pareto improvement: …
Entrepreneurs, Growth And Cycles, Louis Corriveau
Entrepreneurs, Growth And Cycles, Louis Corriveau
Digitized Theses
We study how strategic considerations which pertain to the microeconomic process of innovation affect the macroeconomic process of growth and its efficiency. To a lesser extent, we also study how they may cause fluctuations to occur. We do this by the means of two models.;The first model pictures a one-good economy where long-run growth and output fluctuations are endogenous consequences of the decisions taken by entrepreneurs on the allocation of their resources between production and innovation in a Markovian sequence of one-period games. We show, first, that the log of output follows a process with random walk characteristics; second, that …
Two Essays In Real Business Cycle Theory, Paul A. Gomme
Two Essays In Real Business Cycle Theory, Paul A. Gomme
Digitized Theses
In the first chapter, a real business cycle model with heterogeneous agents is parameterized, calibrated, and simulated to see if it can account for some stylized facts characterizing postwar U.S. business cycle fluctuations, such as the countercyclical movement of labour's share of income, and the acyclical behaviour of real wages. There are two types of agents in the model, workers and entrepreneurs, who participate on an economy-wide market for contingent claims. On this market workers purchase insurance from entrepreneurs, through optimal labour contracts, against losses in income due to business cycle fluctuations. Optimal labour contracting is found to account, quantitatively, …
Economic Growth: Dynamic Interactions With International Trade And Global Environment, Zhiqi Chen
Economic Growth: Dynamic Interactions With International Trade And Global Environment, Zhiqi Chen
Digitized Theses
The thesis comprises four essays that, through theoretical analysis, explore the dynamic impact of capital accumulation on international trade (Chapters 1 and 2) and the dynamic interaction between economic activities and the global climate (Chapters 3 and 4).;Chapter 1 presents a dynamic Heckscher-Ohlin model in which agents' labor supply and investment decisions are endogenous. It is shown that analogues to the major results of the standard Heckscher-Ohlin model are valid in this model. Using the model developed in Chapter 1, Chapter 2 studies the determinant of comparative advantage in the long-run between countries with identical preferences. It is shown that …
Analysis Of Tax Policy Options For Singapore: A General Equilibrium Approach, Ngee Choon Chia
Analysis Of Tax Policy Options For Singapore: A General Equilibrium Approach, Ngee Choon Chia
Digitized Theses
This thesis analyzes tax policy options for Singapore. The first three substantive chapters evaluate the efficiency and distributive impacts of various tax alternatives using a static numerical general equilibrium model. One notable difference of this study from major general equilibrium tax studies for other countries is that instead of using the arithmetic sum of the Compensating and/or Equivalent variations across households, welfare impacts are evaluated using the concept of potential welfare gain/loss, based on Kaldor's (1939) weak compensation principle. The cost of tax distortions is sensitive to the criteria used to evaluate efficiency. To analyze the general equilibrium impacts of …
Essays On Hysteresis In Trade And Exchange Rate Pass-Through, Kong-Wing Chow
Essays On Hysteresis In Trade And Exchange Rate Pass-Through, Kong-Wing Chow
Digitized Theses
Chapter 1 of this thesis derives the long run general equilibrium of a home economy in a two-country overlapping generations model where agents' participation in production and the exchange rate are endogenous. We find that the presence of multiple equilibria is crucial for the existence of hysteresis defined as a change in the market structure of import or export markets, e.g. a change in the number of incumbent producers. With the presence of a positive network externality, the model will guarantee the possibility of hysteresis, i.e. multiple equilibria. Moreover, welfare is unambiguously increasing in the number of producers.;Chapter 2 applies …
The Regulation Of Multinational Enterprises Under Asymmetric Information, Horst H. Raff
The Regulation Of Multinational Enterprises Under Asymmetric Information, Horst H. Raff
Digitized Theses
This thesis investigates the effects of asymmetric information on the relationship between multinational enterprises (MNEs) and host countries. With incomplete information about a MNE's technology, the threat of expropriation does not always deter foreign direct investment (FDI), so that expropriation may actually occur with nonzero probability. Improvements in a MNE's investment alternatives, a rise in production costs or tax rates diminish the likelihood of expropriation. Low-cost countries are more likely than high-cost countries to expropriate MNEs. Low-cost industries simultaneously face higher tariffs and a higher expropriation rate.;Chapter three uses a principal-agent model to examine optimal host country taxation of a …