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International Economics Commons

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1991

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Articles 1 - 22 of 22

Full-Text Articles in International Economics

Exchange Rate And Income Effects On South Korean Exports: The Us Case, Heather M. O'Neill, William Ross Dec 1991

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 ...


An Analysis Of The Ec Commission Plan For Cap Reform, Patrick C. Westhoff Nov 1991

An Analysis Of The Ec Commission Plan For Cap Reform, Patrick C. Westhoff

GATT Research Papers

The Commission of the European Community has proposed a restructuring of the Common Agricultural Policy (CAP) that is independent of the ongoing General Agreement on Tariffs and Trade (GATT) negotiations. This study analyzes the proposal in terms of the flexibility it would grant EC negotiators at the GATT. The results indicate that adopting the proposal would sharply reduce the volume of EC cereal, meat, and dairy product exports. EC negotiators at the GATT would be able to offer significant reductions in export subsidies, a primary concern of the United States and other exporting countries. By reducing production, the proposal would ...


Smuggling And Parallel Markets For Exports, Scott Fausti Oct 1991

Smuggling And Parallel Markets For Exports, Scott Fausti

Economics Staff Paper Series

This paper proposes a model of smuggling consistent with the coexistence of firms involved in strictly legal trade with firms involved in smuggling. A framework is presented in which a firm's degree of risk aversion and the level of government enforcement are the determining factors in the decision of the firm to smuggle or not to smuggle. The model demonstrates that smuggling must be welfare enhancing or all smuggling activity will end. This paper also provides a theoretical analysis of the effect enforcement has on smuggling and welfare. Increased enforcement is shown to have a negative effect on welfare ...


The Structure Of Ec Agriculture: Implications For Cap Reform And Gatt, Patrick C. Westhoff, David Hennessy Oct 1991

The Structure Of Ec Agriculture: Implications For Cap Reform And Gatt, Patrick C. Westhoff, David Hennessy

GATT Research Papers

Statistics demonstrate the diversity of EC agriculture. Agriculture in southern Europe is characterized by many small farms, most of which emphasize crop production. In northern Europe, farms are larger and more likely to emphasize livestock production. More than 70 percent of all EC farms are in southern Europe, but northern Europe accounts for more than 60 percent of all agricultural production and public expenditures on agriculture. The proposed Common Agricultural Policy (CAP) reform would reduce agricultural support prices and impose additional supply control measures. Small-scale producers would be exempt from supply control provisions and would receive direct payments to compensate ...


Implications Of A Production Entitlement Guarantee (Peg) Program For World Commodity Markets, 1992-2000, Patrick C. Westhoff, Michael D. Helmar, Deborah L. Stephens Oct 1991

Implications Of A Production Entitlement Guarantee (Peg) Program For World Commodity Markets, 1992-2000, Patrick C. Westhoff, Michael D. Helmar, Deborah L. Stephens

GATT Research Papers

A Production Entitlement Guarantee (PEG) program would replace existing agricultural policies with a program that would allow governments to subsidize only a fixed proportion of each farmer's historical production. World supply and demand conditions would determine the price farmers receive for any production in excess of the guaranteed PEG quality because all import barriers and export subsidies would be eliminated. A dynamic multicountry, multicommodity model is used to evaluate the impact of replacing current agricultural policies in the United States, the European Community, Japan, and Canada with a PEG program. For all countries and commodities, the guaranteed PEG quantity ...


Optimal Trade Policies For A Developing Country Under Uncertainty, Eun Kwan Choi, Harvey E. Lapan Oct 1991

Optimal Trade Policies For A Developing Country Under Uncertainty, Eun Kwan Choi, Harvey E. Lapan

GATT Research Papers

This paper investigates optimal trade policies for a developing, small open economy that faces international price uncertainly. Trade taxes are used to finance provision of a public good, which enters the utility function of consumers. If demands for private goods are independent of the public good, the optimal composite tariff dominates the optimal quota. If the optimal state-contingent tariff increases with the foreign price, the optimal specific tariff also dominates the optimal quota, regardless of risk aversion. However, the ranking of the optimal specific tariff and the optimal quota generally depends on risk attitudes as well as ordinal preferences.


Implications Of A Gatt Agreement On Agriculture: The Known, The Unknown And The Unknowable, Patrick C. Westhoff Oct 1991

Implications Of A Gatt Agreement On Agriculture: The Known, The Unknown And The Unknowable, Patrick C. Westhoff

GATT Research Papers

International negotiations under the General Agreement on Tariffs and Trade (GATT) seek to set rules governing trade in agricultural products as well as a wide variety of other products and services. The outcome of the negotiations is uncertain at this time, but it seems that if there is to be an agreement for agriculture, it will require countries to make modest reductions in internal support measures, export subsidies, and import barriers. The consequences of a GATT agreement for world agriculture cannot be known with certainty, especially if the specific terms of an agreement remain unknown. Research conducted by the Center ...


Analysis Of Agricultural And Food Price Policy In Haiti: An Adaptive Policy Simulation Model, Helen H. Jensen, Kamal Banskota, Stanley R. Johnson, Justo Manrique Oct 1991

Analysis Of Agricultural And Food Price Policy In Haiti: An Adaptive Policy Simulation Model, Helen H. Jensen, Kamal Banskota, Stanley R. Johnson, Justo Manrique

CARD Technical Reports

In early 1986, the government of Haiti began a series of economic reforms in agriculture designed to reduce the degree of government price intervention, to increase efficiencies in the agricultural sector, and to reduce restrictions on the quantities of food imports. The critical extent of hunger and malnutrition in Haiti has underscored concerns by USAID and other donor organizations for the need to consider the impacts of agricultural policies and food aid on the agricultural sector, government finances, and food availability.

The 1987 economic reforms eliminated export taxes (on coffee), broke up government trading monoppolies, and removed most quantity restrictions ...


The World Soybean Trade Model: Specification, Estimation, And Validation, William H. Meyers, S. Devadoss, Michael D. Helmar Sep 1991

The World Soybean Trade Model: Specification, Estimation, And Validation, William H. Meyers, S. Devadoss, Michael D. Helmar

CARD Technical Reports

The soybean trade model is one of the three models in the trade modeling system developed, updated, and maintained by the Center for Agricultural and Rural Development (CARD). The other two commodity trade models are for wheat and the feed-grains complex. The three trade models are linked through cross-price linkages in the supply and demand components of these models, yet each model can be solved independently. In general, however, all three trade models are solved iteratively to obtain a simultaneous solution. Equilibrium price, quantities of supply and demand, and net trade are determined by equating excess demands and supplies across ...


Impacts Of Liberalizing The Japanese Pork Market, Thomas I. Wahl, Dermot J. Hayes, Stanley R. Johnson Jul 1991

Impacts Of Liberalizing The Japanese Pork Market, Thomas I. Wahl, Dermot J. Hayes, Stanley R. Johnson

GATT Research Papers

The Japanese pork market is protected by a complex set of restrictions, including a variable levy and an import tariff. The combination of these policies distorts the quantity, price, and form of Japanese pork imports. An important issue relevant to the liberalization of the Japanese pork market is the accurate measurement of the price wedge between Japanese and world pork prices. The analysis indicates that the tariff equivalent of the price wedge over the 1986-88 period was 44 percent. If the tariff equivalent of the price wedge is reduced over a ten-year period, Japanese pork imports are projected to increase ...


Measuring International Competitiveness In The Beef Sector, Dermot J. Hayes, John R. Green, Helen H. Jensen, Adrienne Erbach Jul 1991

Measuring International Competitiveness In The Beef Sector, Dermot J. Hayes, John R. Green, Helen H. Jensen, Adrienne Erbach

GATT Research Papers

Beef is a heterogeneous commodity, which makes it difficult to compare beef prices in an international level. This paper evaluates several methods of comparing beef prices to be used in measuring both comparative advantage and protection. The most suitable method is one that compares the prices of wholesale cuts, adjusted for transportation costs.


Tariffication Of European Community Corn Imports, S. Devadoss, H. G. Brooks, Michael D. Helmar, Stanley R. Johnson Jul 1991

Tariffication Of European Community Corn Imports, S. Devadoss, H. G. Brooks, Michael D. Helmar, Stanley R. Johnson

GATT Research Papers

In July 1989, U.S. negotiators presented a tariffication proposal at the General Agreement on Tariffs and Trade (GATT) meeting in Geneva. According to that proposal, all agricultural nontariff barriers (NTBs) such as quotas and variable import levies would be converted to equivalent ad valorem tariffs. The following formula, known as the price gap method, was proposed for converting the NTBs to tariffs: TE= [(PD – PW)/PW] · 100, where TE is the tariff equivalent, PD is domestic price and PW is world price. If an agreement on tariffication is reached, the next step will be to develop a schedule for ...


Multilateral Bargaining In Political Science Experiments: A Survey, Glenn W. Harrison Jul 1991

Multilateral Bargaining In Political Science Experiments: A Survey, Glenn W. Harrison

GATT Research Papers

The political science literature has long been concerned with the behavioral properties of alternative bargaining institutions. The focus of most of this research has been on the way in which committees make decisions, but there has been some interest in legislative and electoral processes. From the outset this literature has concerned itself primarily with multilateral bargaining setting, as distinct from the economics literature which has displayed an odd reluctance to go beyond the bilateral bargaining setting.


Tariffication And Agricultural Trade, Eun Kwan Choi Jul 1991

Tariffication And Agricultural Trade, Eun Kwan Choi

GATT Research Papers

This paper considers the effects of tariffication-conversion of a variable import levy, widely used in the European Community, into an equivalent ad valorem tariff on trade and welfare. While tough negotiations lie ahead over the exact rates of tariff reduction, contracting countries in principle agreed to tariffication proposed by the United States. If producers are risk neutral, tariffication has no effect on production and trade, and gains from a GATT agreement in the Uruguay Round depend on the extent of tariff reductions. If domestic producers are risk averse, however, tariffication reduces domestic production of the importable and thus has a ...


The Global Economy And The American Welfare State, Howard Jacob Karger Jun 1991

The Global Economy And The American Welfare State, Howard Jacob Karger

The Journal of Sociology & Social Welfare

The American social welfare state is approaching a crisis because of the global economy. Survival in a new world economy requires corporations to become more efficient, a strategy which leads to a rapidly changing technology, plant shutdowns, and industrial reorganization. To aid corporations, government often curbs taxes to make capital available for investment. These policies can lead to governmental debt, reduced welfare services, a deterioration in the infrastructure, and myriad social problems. This article investigates the effects of the global economy on the American welfare state.


Determining Winners And Losers From A Gatt Agreement: The Importance Of Base Periods And Rules, Brian Lee Buhr, James Hansen, Zuhair A. Hassan, Dermot J. Hayes, Michael D. Helmar, David Hennessy, Stanley R. Johnson, William H. Meyers, Deborah L. Stephens, Kyle J. Stephens, Patrick C. Westhoff Mar 1991

Determining Winners And Losers From A Gatt Agreement: The Importance Of Base Periods And Rules, Brian Lee Buhr, James Hansen, Zuhair A. Hassan, Dermot J. Hayes, Michael D. Helmar, David Hennessy, Stanley R. Johnson, William H. Meyers, Deborah L. Stephens, Kyle J. Stephens, Patrick C. Westhoff

GATT Research Papers

To identify the winners and the losers from the General Agreement on Tariffs and Trade (GATT) in agriculture, it is necessary to know which countries will be required to reduce which subsidies by what amounts. Rules that seem fair may actually impose very different future obligations on the parties to the negotiations. The base period from which reductions must be made, the manner in which export subsidies are measured, and the exchange rate used to determine tariff-reduction requirements are examples of technical issues that determine the policy implications of a GATT agreement. The paper estimates credits that countries have earned ...


The Effect Of The Gatt On U.S. Peanut Markets, Randal R. Rucker, Walter N. Thurman, Robert B. Borges Mar 1991

The Effect Of The Gatt On U.S. Peanut Markets, Randal R. Rucker, Walter N. Thurman, Robert B. Borges

GATT Research Papers

The Uruguay Round of the General Agreement on Tariffs and Trade (hereafter, the GATT), which is to be signed by more than 10 nations on December 15, 1993, represents the culmination of seven years of negotiations on reforms of international trade. Assuming that the U.S. Congress will ratify the agreement, most, if not all, agricultural commodities produced in the United States will be affected in some way. The purpose of the present paper is to examine the likely effects of the GATT on U.S. peanut markets. Although the market value of U.S. peanut production is small compared ...


Import Competition In The High-Wage Sector And Trade Policy Effects On Labor, Gary S. Fields, Earl L. Grinols Jan 1991

Import Competition In The High-Wage Sector And Trade Policy Effects On Labor, Gary S. Fields, Earl L. Grinols

Articles and Chapters

This article evaluates the employment and welfare effects of increased trade competition and protection in economies with wage dualism, unemployment, and on-the-job search. A micro-based measure of economy welfare distinguishes between workers and other sectors of the economy is developed to deal with labor market imperfections and distributional issues. For example, increased competition in high-wage sector goods reduces high-wage employment, but may or may not increase overall unemployment. Policy may be chosen to mitigate loss in worker earnings that are partly or wholly offset by gains to consumers of the importable.


Massachusetts Enters The Global Age A Service Export Initiative, Umass Amherst Center Economic Development Jan 1991

Massachusetts Enters The Global Age A Service Export Initiative, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

This report was meant to be the first step in a long term initiative which was meant to seek and harness the vast service-oriented resources within Western Massachusetts and assist then in expanding along global lines.


Implications Of A Gatt Agreement For World Commodity Markets, 1991-2000, Brain Lee Buhr, James Hansen, Zuhair A. Hassan, Dermot J. Hayes, Michael D. Helmar, David Hennessy, William H. Meyers, Deborah L. Stephens, Kyle J. Stephens, Patrick C. Westhoff Jan 1991

Implications Of A Gatt Agreement For World Commodity Markets, 1991-2000, Brain Lee Buhr, James Hansen, Zuhair A. Hassan, Dermot J. Hayes, Michael D. Helmar, David Hennessy, William H. Meyers, Deborah L. Stephens, Kyle J. Stephens, Patrick C. Westhoff

GATT Research Papers

A dynamic multicountry, multicommodity model is used to evaluate the impact of a moderate General Agreement on Tariffs and Trade (GATT) agreement. The terms of this agreement are as follows. 1) Export subsidy quantities (using annual and price wedges) are reduced by 50 percent from the 1986-88 average by 1996. 2) Import restrictions are tariffed and reduced by 33 percent form the 1986-88 average by 1996 (tariffs are measured by using an annual price wedge approach). 3) Internal supports, as measured by the aggregate measure of support (AMS) are reduced by 33 percent from the 1986-88 average by 1996 (fixed ...


Assets And Liabilities, Ron Deiter Jan 1991

Assets And Liabilities, Ron Deiter

Economics Publications

Assets represent things of value that are owned by a household, firm or government. Liabilities are debts that are owed by a household, firm, or government. Each year, trillions of dollars of assets and liabilities constitute an enormous worldwide capital market that is based on the flows of savings and investments.


The Perceptions Of Iowa Young Farmers Regarding The Role Of International Agriculture In Agricultural Education In Iowa, Kamal Eldin Ali Elbashir Jan 1991

The Perceptions Of Iowa Young Farmers Regarding The Role Of International Agriculture In Agricultural Education In Iowa, Kamal Eldin Ali Elbashir

Retrospective Theses and Dissertations

No abstract provided.