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Articles 151 - 176 of 176

Full-Text Articles in International Economics

Fishing Capacity In Europe: Special Issue Introduction, Niels Vestergaard Dec 2004

Fishing Capacity In Europe: Special Issue Introduction, Niels Vestergaard

Niels Vestergaard

No abstract provided.


Sunk Cost And Entry-Exit Decisions Under Individual Transferable Quotas: Why Industry Restructuring Is Delayed, Niels Vestergaard, Frank Jensen, Henning P. Jørgensen Dec 2004

Sunk Cost And Entry-Exit Decisions Under Individual Transferable Quotas: Why Industry Restructuring Is Delayed, Niels Vestergaard, Frank Jensen, Henning P. Jørgensen

Niels Vestergaard

The paper shows that explicit modelling of sunk cost and a firm's entry-exit decision in a traditional deterministic investment model may give an explanation of the slow transition to the optimal fleet structure following the introduction of individual transferable quotas (ITQs). The analysis shows that the annual lease unit price of quota may be in a range where the long-run fieet structure will not be attainable at once. Over time, firms with zero gross investment as optimal behavior may leave the industry as the capital decays and over the transition period the optimal fieet structure prevails.


Agents Cooperation And Network Sustainability: A Note On Social Capital, Massimiliano Mazzanti Jan 2004

Agents Cooperation And Network Sustainability: A Note On Social Capital, Massimiliano Mazzanti

Massimiliano Mazzanti

No abstract provided.


Determinantes Explícitos E Implícitos De La Deuda Externa Pública Peruana, José Manuel Martin Coronado Dec 2003

Determinantes Explícitos E Implícitos De La Deuda Externa Pública Peruana, José Manuel Martin Coronado

José-Manuel Martin Coronado

This research aims to prove that sound economic policies are nothing more that basic conditions for the foreign public debt problem. In fact, by studying the factors of public debt issues in Peru, Latin America and the emerging economies it’s clear that some implicit economic and non-economic factors have to be considered because of the social complexity and variable characteristics in emerging economies. This causes failures in economic policies assumptions, inefficiencies, distorted causality and nonrational behavior. This paper proposes, first, to perform a deep and comparative analysis of the foreign debt determinants in emerging economies, then, to allocate financial ...


Ceo Turnover And Foreign Market Participation, Bruce A. Blonigen, Rossitza B. Wooster Mar 2003

Ceo Turnover And Foreign Market Participation, Bruce A. Blonigen, Rossitza B. Wooster

Economics Faculty Publications and Presentations

Anecdotal evidence suggests that new CEOs with foreign backgrounds direct their firms to become more international in their operations. We examine this hypothesis formally using data on U.S. S&P-500 manufacturing firms from1992 through 1997 and biographical information on CEOs’ birth and education locations that allow us to identify changes from U.S.- to foreign-connected CEOs. Robust to a variety of specifications, we find that a U.S. firm’s switch from a U.S. to a foreign CEO leads to substantial increases in the firm’s proportion of its foreign assets and foreign affiliate sales. In fact, our ...


Enterprises And The Constitution Of The World Economy, Jean-Philippe Robé Jan 2003

Enterprises And The Constitution Of The World Economy, Jean-Philippe Robé

Jean-Philippe Robé

No abstract provided.


Equilibrium Selection In Global Games With Strategic Complementarities, David M. Frankel, Stephen Morris, Ady Pauzner Jan 2003

Equilibrium Selection In Global Games With Strategic Complementarities, David M. Frankel, Stephen Morris, Ady Pauzner

Economics Publications

We study games with strategic complementarities, arbitrary numbers of players and actions, and slightly noisy payoff signals. We prove limit uniqueness: as the signal noise vanishes, the game has a unique strategy profile that survives iterative dominance. This generalizes a result of Carlsson and van Damme (Econometrica 61 (1993) 989–1018) for two-player, two-action games. The surviving profile, however, may depend on fine details of the structure of the noise. We provide sufficient conditions on payoffs for there to be noise-independent selection.


Discrete Choice Models And Valuation Experiments, Massimiliano Mazzanti Dec 2002

Discrete Choice Models And Valuation Experiments, Massimiliano Mazzanti

Massimiliano Mazzanti

No abstract provided.


Technical Efficiency Of The Danish Trawl Fleet: Are The Industrial Vessels Better Than Others?, Niels Vestergaard, Dale Squires, Frank Jensen, Jesper Levring Andersen Dec 2002

Technical Efficiency Of The Danish Trawl Fleet: Are The Industrial Vessels Better Than Others?, Niels Vestergaard, Dale Squires, Frank Jensen, Jesper Levring Andersen

Niels Vestergaard

Technical efficiency in the Danish trawl fishery in the North Sea is estimated for 1997-1998 with a stochastic production frontier model. This model allows for both technical efficiency and a stochastic environment. The results show that the production frontier can be modelled by a translog function with time effects and a technical inefficiency function. The type of fishery (industrial or consumption) and size of vessel give a good explanation for the inefficiency of the fleet. The average technical efficiency is estimated to be 0.80. On avrage, industrial vessels have a higher technical efficiency than human consumption vessels, and smaller ...


The New Basel Capital Accord: Making It Effective With Stronger Market Discipline, Harald Benink, Clas Wihlborg Jan 2002

The New Basel Capital Accord: Making It Effective With Stronger Market Discipline, Harald Benink, Clas Wihlborg

Business Faculty Articles and Research

In January 2001 the Basel Committee on Banking Supervision proposed a new capital adequacy framework to respond to deficiencies in the 1988 Capital Accord on credit risk. The main elements or ‘pillars’ of the proposal are capital requirements based on the internal risk-ratings of individual banks, expanded and active supervision, and information disclosure requirements to enhance market discipline. We discuss the incentive effects of the proposed regulation. In particular, we argue that it provides incentives for banks to develop new ways to evade the intended consequences of the proposed regulation. Supervision alone cannot prevent banks from ‘gaming and manipulation’ of ...


A Principal-Agent Analysis Of Fisheries, Frank Jensen, Niels Vestergaard Dec 2001

A Principal-Agent Analysis Of Fisheries, Frank Jensen, Niels Vestergaard

Niels Vestergaard

Very little principal-agent analysis has been done within the fisheries economic literature. This paper conducts a principal-agent analysis of fisheries. Within a standard principal-agent model, the low-cost agent must be allowed the same level of effort as under complete information. This conclusion does not hold for fisheries, because of a resource restriction and the fact that maximisation takes place over two variables. By means of comparative-static analysis, this paper argues that the low-cost agent must be allowed a larger effort than under complete information.


Management Of Fisheries In Eu: A Principal-Agent Analysis, Frank Jensen, Niels Vestergaard Dec 2000

Management Of Fisheries In Eu: A Principal-Agent Analysis, Frank Jensen, Niels Vestergaard

Niels Vestergaard

In this paper, an EU tax on fishing effort is studied as an alternative to the system of Total Allowable Catches (TACs). The analysis is conducted under imperfect information, and the hypothesis adopted is that the EU lacks information about the costs of individual fishermen. In light of this imperfection, there are at least two reasons for considering an EU tax. First, it can be used to correct part of the market failure associated with fisheries. Second, it can be used to secure correct revelation of fishermen types in light of asymmetric information.


Trends. Common Currency On Currency Interventions In A Global Economy: Psychological Considerations, Editor Sep 2000

Trends. Common Currency On Currency Interventions In A Global Economy: Psychological Considerations, Editor

International Bulletin of Political Psychology

This article discusses government interventions in economies in the context of a global economy. While economists usually assume actors to be rational, the author notes that this may not be the case with human belief systems and actions.


Trends. Licit And Illicit Human Trafficking: The Ultimate Violation Of Human Rights, Editor Jul 2000

Trends. Licit And Illicit Human Trafficking: The Ultimate Violation Of Human Rights, Editor

International Bulletin of Political Psychology

This article discusses human trafficking for economic reasons and its context.


Trends. Altruism As Egoism In International Trade Policy: Some Strange Bedfellows, Editor Apr 2000

Trends. Altruism As Egoism In International Trade Policy: Some Strange Bedfellows, Editor

International Bulletin of Political Psychology

This article discusses the tenuous nature of political cooperation between advocates of trade unionism and environmentalism.


Trends. Money Talks, Nobody Walks I: The International Monetary Fund And The World Bank, Editor Mar 2000

Trends. Money Talks, Nobody Walks I: The International Monetary Fund And The World Bank, Editor

International Bulletin of Political Psychology

This article discusses the economic activities of the World Bank, the IMF, and a United States Congressional commission that critiqued their operations.


Institutional Changes And Discretionary Value For Property Rights In Drylands’ Farming Of The Sudan, Professor Issam A.W. Mohamed Jun 1999

Institutional Changes And Discretionary Value For Property Rights In Drylands’ Farming Of The Sudan, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

Research on land tenure and use control and the socioeconomic sets of regulations in the agricultural rainfed sub sector of Sudan, come to focus for many reasons. Anthropogenic pressure, expanding animal population and migration led to accelerated impacts on both the ecological systems and land yields. Conflicts between governmental regulations and indigenous rules contribute to generate inconsistencies on who have the right to till the land and hence own it. With such transformation logically, more intensive commercial farming took place and land intake exponentially increased. Private or collective property rights of land are procured through traditional tenure, prescription, settlement or ...


Measures Of Welfare Effects In Multiproduct Industries: The Case Of Multispecies Individual Quota Fisheries, Niels Vestergaard Dec 1998

Measures Of Welfare Effects In Multiproduct Industries: The Case Of Multispecies Individual Quota Fisheries, Niels Vestergaard

Niels Vestergaard

A framework is developed to measure the welfare effects of individual quota reforms in multiproduct industries using the multimarket welfare measure techniques suggested by Just, Hueth, and Schmitz (1982) and the concept of virtual price in the production theory literature (Neary 1995; Squires and Kirkley 1996). Under joint in input production it shown that quasirent under a single quota can be measured by the producer surplus either in the output market for quota output or in the quota market. Under multiple quotas the welfare effects of quota policies can be measured in one of the quota markets using inverse derived ...


Multinational Enterprises: The Constitution Of A Pluralistic Legal Order, Jean-Philippe Robé Jan 1997

Multinational Enterprises: The Constitution Of A Pluralistic Legal Order, Jean-Philippe Robé

Jean-Philippe Robé

No abstract provided.


L'Entreprise En Droit, Jean-Philippe Robé Jan 1995

L'Entreprise En Droit, Jean-Philippe Robé

Jean-Philippe Robé

No abstract provided.


Bæredygtig Udnyttelse Af Fornybare Ressourcer: Torskefiskeriet Ved Færøerne, Niels Vestergaard Dec 1994

Bæredygtig Udnyttelse Af Fornybare Ressourcer: Torskefiskeriet Ved Færøerne, Niels Vestergaard

Niels Vestergaard

The Faroe Islands cod fishery is analyzed for the period 1985-1992. It is shown that an approximately optimal and implementable fishery policy based on sustainability have increased the gross national income in the fishery by about 20%. This loss is due to an inoptimal organization of the fishery during that period combined with a very low cod stock at the end of 1992, which means reduced future catch possibilities. that the fishing capacity could have been reduced by about 1/3. The policy of sustainability is applied to the current situation in the fishery, and it is shown that the ...


Interventi Disaccoppiati, Riforma Della Pac E Redditi Agricoli: Una Analisi Qualitativa, Paolo Sckokai, Giancarlo Moschini Sep 1993

Interventi Disaccoppiati, Riforma Della Pac E Redditi Agricoli: Una Analisi Qualitativa, Paolo Sckokai, Giancarlo Moschini

Economics Publications

La recente riforma della Politica Agricola Comune (PAC) costituisce uno dei cambiamenti piu drastici ed ambiziosi che sia stato mai intrapreso negli orientamenti comunitari. Come e noto, il sostegno del mercato dei principali prodotti agricoli subira modificazioni profonde, ponendo una serie di importanti quesiti sugli effetti economici della riforma. In Italia, lo sforzo dei ricercatori si e rivolto essenzialmente alia quantificazione degli effetti sui redditi agricoli, come logica risposta aile preoccupazioni del mondo rurale, che vede nella riforma una vera e propria rivoluzione 1 , In queStO COnteStO, Un puntO di pattenza Utile e rappresentato da una discussione teorica dei nuovi ...


The Optimal Tariff, Production Lags, And Time Consistency, Harvey E. Lapan Jun 1988

The Optimal Tariff, Production Lags, And Time Consistency, Harvey E. Lapan

Economics Publications

The optimal tariff for a large country equals the reciprocal of the foreign export elasticity of supply. However, if production decisions occur before consumption decisions, the ex ante optimal tariff is not time consistent because the ex post elasticity is less than the ex ante elasticity. We show all countries are worse off if the large country cannot precommit to its ex ante optimal tariff, and that all countries can gain if the large country taxes domestic production of importables.


To Bargain Or Not To Bargain: That Is The Question, Harvey E. Lapan, Todd Sandler May 1988

To Bargain Or Not To Bargain: That Is The Question, Harvey E. Lapan, Todd Sandler

Economics Publications

We use economic analysis in a simple game-theory framework to ascertain under what circumstances a government would want to precommit itself to a no-negotiation strategy. From the government viewpoint, we examine both the choice of deterrence expenditure (i.e., expense meant to reduce terrorist logistical success during incidents) and whether to negotiate or not.


Devaluation, Wealth Effects, And Relative Prices, Harvey Lapan, Walter Enders Sep 1978

Devaluation, Wealth Effects, And Relative Prices, Harvey Lapan, Walter Enders

Economics Publications

The emergence of the portfolio balance approach 1 has led to a reformulation of the causes of balance-of-trade and payments disequilibria. According to this approach, balance-of-trade deficits and surpluses reflect discrepancies between desired and actual wealth holdings; while balance-of­ payments deficits and surpluses reflect discrepancies between desired and actual money holdings. Thus, balance-of-trade and payments disequilibria are viewed as representing disequilibria within the asset markets. Using this framework several authors2 have examined the self-correcting nature of disequilibria within the balance­ of-payments accounts and the ability of a devaluation to reduce the magnitude of a disequilibrium.


Regional Economic And Demographic Analysis For Cleveland, Ohio, Thomas Bausch, Lawrence Cima, Joseph Bombelles Dec 1973

Regional Economic And Demographic Analysis For Cleveland, Ohio, Thomas Bausch, Lawrence Cima, Joseph Bombelles

Lawrence R. Cima

No abstract provided.