Download International Economic Policies in a Globalized World by Seiichi Katayama, Heinrich W. Ursprung PDF

By Seiichi Katayama, Heinrich W. Ursprung

In this quantity we amassed the various papers that have been awarded on the RIEB (The examine Institute for Economics and enterprise management) foreign convention at Kobe collage on March 25 and 26, 2000. The contributions invited for presentation all handled particular elements of the convention subject "Trade coverage: Political economic system and Dynamic Issues". meanwhile the papers gathered during this quantity were revised, and a few of them were released in expert journals. This quantity hence includes released in addition to hitherto unpublished contributions. we're thankful to all of the authors and the convention contributors, espe­ cially to people who cheerfully served as discussants and chairpersons. Our thank you additionally visit our colleagues on the RIEB for his or her encouragement, and particularly to the RIEB's Director, Professor Shoji Nishijima for his aid of the venture. we're additionally thankful to Professor Arye Hillman at Bar-Han collage, who kindly learn components of the manuscript and provided invaluable com­ ments and proposals. within the editorial approach we have been lucky with a purpose to depend upon an exceptional and capable crew: we're tremendous thankful to Minako Okuno, Yuji Fujinaka, Tetsuya Saito for his or her striking paintings and to Shinya Horie who undertook the trials taking activity and accomplished the camera-ready replica for e-book. we're additionally thankful to Professor Charles Noussair of Emory collage who kindly provided suggestions.

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Hence, good i is produced by country i and country i + 2 (see Figure 1 for an illustration). Country i's production technologies have constant marginal costs, which are denoted by c~ and c~+1' respectively. Country i's demand for good j is Pj(Qj) = Qj, for j = 1,2,3. Finally, there is in each country at most one firm producing each good. a; - 2;1 The Unilateral Subgame-Perfect Equilibrium As the purpose of this paper is to demonstrate an advantage of multilateral trade liberalizations (over bilateral ones) and the necessity of third-party punishment, we focus on a particular trade pattern resulting from the following assumptions on the cost and demand functions: • > a~,&" > c~ > max {Ci+l' i i+1} Ci+l , i i+l i+2 ai+2 > max{ci+2' ci+2}· • AI·• C~+2 '& i A2 ..

We now turn to Bertrand equilibrium prices of individual firms. From (4) and (6), we get (7) Hence the Bertrand equilibrium outputs are and the Bertrand equilibrium profits are (in view of (1) and (2)): 1fi = [Pi - (}i] iii =~ [iii «(}i, (}N )]2 = ~ [Gi(PN«(}N)) b 4b i i In what follows, we specialize in the case where bi M/i]2 = b for all i, and assume (9) where 0 < g < bi and alb> (}max. Then (5) becomes (10) where 1 n = 1- L 26 (11) (It is possible to obtain these equations from an underlying utility function, see the appendix).

From (27), we get 8'(Lh) (Dgm*) (30) t'(mLh) - 2bn - Dg An increase in the index of substitutabilty E (see the Appendix) will lead to an increase in value of the right-hand side of equation (30). So the value of left-hand side must increase, which is possible if and only if Lh increases. Thus we have proved: Proposition 14 An increase in the substitutability among the differentiated products will lead to a greater lobbying effort. Let us turn to the effect of lobbying on the variance of the distribution of prices.

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