Insignificant And Inconsequential Hysteresis
DOWNLOAD
Download Insignificant And Inconsequential Hysteresis PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Insignificant And Inconsequential Hysteresis book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Insignificant And Inconsequential Hysteresis
DOWNLOAD
Author : David C. Parsley
language : en
Publisher:
Release Date : 1994
Insignificant And Inconsequential Hysteresis written by David C. Parsley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Balance of trade categories.
This paper casts doubt on the validity of the hysteresis hypothesis as an explanation of the persistent U.S. trade deficits in the 1980s. We propose two tests to investigate two different implications of the hypothesis. The first implication is that cumulative changes in exchange rates, in addition to current exchange rate levels, are important determinants of trade flows. The second implication is that foreign exporting firms' perceptions of exchange rate volatility will affect their decisions to enter or exit the market. We find little support for either aspect of the hysteresis hypothesis.
The Multiple Dimensions Of Institutional Complexity In International Business Research
DOWNLOAD
Author : Alain Verbeke
language : en
Publisher: Emerald Group Publishing
Release Date : 2021-03-04
The Multiple Dimensions Of Institutional Complexity In International Business Research written by Alain Verbeke and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-04 with Business & Economics categories.
This volume provides a fresh overview of many novel international business research challenges as they pertain to salient institutional dimensions with a locational component, with a focus on the ‘new normal’.
An Empirical Model Of Sunk Costs And The Decision To Export
DOWNLOAD
Author : Mark J. Roberts
language : en
Publisher: World Bank Publications
Release Date : 1999
An Empirical Model Of Sunk Costs And The Decision To Export written by Mark J. Roberts and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
March 1995 Exports respond unpredictably to a change in real exchange rates, suggests evidence from the 1980s. Recent theoretical work explains this as a consequence of the sunk costs associated with breaking into foreign markets. Sunk costs include the cost of packaging, upgrading product quality, establishing marketing channels, and accumulating information on demand sources. The authors use micro panel data to estimate a dynamic discrete-choice model of participation in export markets, a model derived from the Krugman-Baldwin sunk-cost hysteresis framework. Applying the model to data on manufacturing plants in Colombia (1981-89), they test for the presence of sunk entry costs and quantify the importance of those costs in explaining export patterns. The econometric results reject the hypothesis that sunk costs are zero. The results, which control for both observed and unobserved sources of plant heterogeneity, indicate that prior export market experience has a substantial effect on the probability of exporting, but its effect depreciates fairly quickly. The reentry costs of plants that have been out of the export market for a year are substantially lower than the costs of a first-time exporter. After a year out of the export market, however, the reentry costs are not significantly different from the entry costs. Plant characteristics are also associated with export behavior: large old plants owned by corporations are more likely to export than other plants. Variations in plant-level cost and demand conditions have much less effect on the profitability of exporting than variations in macroeconomic conditions and sunk costs do. It appears especially difficult to break into foreign markets during periods of world recession.
Monetary Economics In Globalised Financial Markets
DOWNLOAD
Author : Ansgar Belke
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-03-14
Monetary Economics In Globalised Financial Markets written by Ansgar Belke and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-14 with Business & Economics categories.
This book integrates the fundamentals of monetary theory, monetary policy theory and financial market theory, providing an accessible introduction to the workings and interactions of globalised financial markets. Includes examples and extensive data analyses.
Competition Efficiency And Welfare
DOWNLOAD
Author : Dennis C. Mueller
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Competition Efficiency And Welfare written by Dennis C. Mueller and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Competition, Efficiency and Welfare contains a collection of papers in honor of Manfred Neumann. This collection was prepared as a tribute to a teacher and scholar, whose accomplishments have enriched various fields of economics. The magnitude of his interests is reflected in the breadth of topics covered in this volume: industrial economics, competition policy and related topics. However, if one unifying principle runs through Manfred Neumann's work, it is the belief in the power of competition. Born on May 16, 1933, Manfred Neumann studied economics at the University of Cologne. He graduated in 1960. In 1969 Manfred Neumann was appointed Professor of Economics at Nürnberg University. He was Dean of the Faculty of Economics and Social Sciences of the University of Erlangen-Nürnberg, President of the European Association for Research in Industrial Economics (EARIE) and Chairman of Industrial Organization Study Group of the Verein für Sozialpolitik. Most of his professional career has been spent at Nürnberg, where he has helped to make the Economic Institute one of the leading research centers in Industrial Organization. He has also been involved in various advisory activities. The volume contains 18 essays. The first twelve are grouped into four categories: Innovation and R&D (Part I), Cartels (Part II), Mergers and Merger Policy (Part III), and Methodological Issues in Industrial Organization (Part IV). These papers fall within the bounds of industrial economics, which has been Manfred Neumann's primary research interest throughout his career. Part V includes two papers on theories of international trade, which has been a recurring topic of interest for Manfred Neumann through the years. The last three papers look at broader policy and macroeconomic issues. Contributors to this volume include Karl Aiginger, David B. Audretsch, Paul A. Geroski, Stephen Martin and Dennis Mueller.
Multifactor Models Do Not Explain Deviations From The Capm
DOWNLOAD
Author : Archie Craig MacKinlay
language : en
Publisher:
Release Date : 1994
Multifactor Models Do Not Explain Deviations From The Capm written by Archie Craig MacKinlay and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Capital categories.
A number of studies have presented evidence rejecting the validity of the Capital Asset Pricing Model (CAPM). This evidence has spawned research into possible explanations. These explanations can be divided into two main categories - the risk based alternatives and the nonrisk based alternatives. The risk based category includes multifactor asset pricing models developed under the assumptions of investor rationality and perfect capital markets. The nonrisk based category includes biases introduced in the empirical methodology, the existence of market frictions, or explanations arising from the presence of irrational investors. The distinction between the two categories is important for asset pricing applications such as estimation of the cost of capital. This paper proposes to distinguish between the two categories using ex ante analysis. A framework is developed showing that ex ante one should expect that CAPM deviations due to missing risk factors will be very difficult to statistically detect. In contrast, deviations resulting from nonrisk based sources will be easy to detect. Examination of empirical results leads to the conclusion that the risk based alternatives is not the whole story for the CAPM deviations. The implication of this conclusion is that the adoption of empirically developed multifactor asset pricing models may be premature.
Accessasia
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 1997
Accessasia written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Asia categories.
Efficient And Inefficient Sales Of Corporate Control
DOWNLOAD
Author : Lucian A. Bebchuk
language : en
Publisher:
Release Date : 1994
Efficient And Inefficient Sales Of Corporate Control written by Lucian A. Bebchuk and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Controllership categories.
This paper develops a framework for analyzing transactions that transfer a company's controlling block from an existing controller to a new controller. This framework is used to compare the market rule, which is followed in the United States, with the equal opportunity rule, which prevails in some other countries. The market rule is superior to the equal opportunity rule in facilitating efficient transfers of control but inferior to it in discouraging inefficient transfers. Conditions under which one of the two rules is overall superior are identified; for example, the market rule is superior if existing and new controllers draw their characteristics from the same distributions. Finally, the rules' effects on surplus division are analyzed and this examination reveals a rationale for mandatory rules.
The Alternative Minimum Tax And The Behavior Of Multinational Corporations
DOWNLOAD
Author : Andrew B. Lyon
language : en
Publisher:
Release Date : 1994
The Alternative Minimum Tax And The Behavior Of Multinational Corporations written by Andrew B. Lyon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Alternative minimum tax categories.
The Mfa Paradox
DOWNLOAD
Author : J. Michael Finger
language : en
Publisher:
Release Date : 1994
The Mfa Paradox written by J. Michael Finger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Export controls categories.
The textile industry's political power stemmed from its importance in southern states plus the power of the Southern delegation in the U.S. Congress in the 1960s. The strongest resistance to the industry's pressure for protection came from the foreign policy interests of the Executive branch. A constellation of influences explains why negotiated, or voluntary export restraints (VERs), sanctioned by international agreements (the Multi-Fiber Arrangement) was the form protection took. First, the Japanese industry, at the time the world's leading textile exporter, already in the 1930s had exhibited a willingness to accept negotiated agreements to trade disputes. Second, the U.S. Executive, having been a leader in establishing the GATT system to control the sort of unilateral restrictive actions that contributed to the 1930s depression, was reluctant to take unilateral action. Third, the arrangement was acceptable to the U.S. industry because, through their particular power over agricultural legislation, the Southern delegation won passage, as amendments to agriculture bills, of legislation to enforce these 'voluntary' restraints at the U.S. border. But because enforcement remained with the Executive branch, it tended to follow the letter of the agreements, hence exports could continue to expand by shifting to new product varieties and to new supplier countries.