A Theory of International Trade Under Uncertainty
Author: Elhanan Helpman
Publisher:
Published: 1978
Total Pages: 216
ISBN-13:
DOWNLOAD EBOOKRead and Download eBook Full
Author: Elhanan Helpman
Publisher:
Published: 1978
Total Pages: 216
ISBN-13:
DOWNLOAD EBOOKAuthor: Elhanan Helpman
Publisher: Academic Press
Published: 2014-05-10
Total Pages: 203
ISBN-13: 148327151X
DOWNLOAD EBOOKA Theory of International Trade Under Uncertainty analyzes international trade in goods and securities in the presence of uncertainty using an integrated general equilibrium framework that recognizes the dependence of markets for goods on financial markets and vice versa. The usefulness of this approach is demonstrated by means of applications to questions such as the effects of international trade on resource allocation, tariff policy, and intervention in financial capital markets. Results which are important for theoretical as well as policy oriented applications are presented. Comprised of 11 chapters, this volume begins with an introduction to some of the fundamental elements of the deterministic Ricardian and Heckscher-Ohlin theories of international trade. Relevant elements from the theory of decision making under uncertainty are then discussed, along with the behavior of firms and consumers-investors in an economy with stock markets. Subsequent chapters focus on problems of commercial policy; gains from trade in goods and securities; and issues of intervention in financial capital markets. The book concludes by describing a dynamic model of international trade that contains an infinite horizon and takes into account the trade-off between present period consumption and savings. An example that illustrates an equilibrium structure of the dynamic model is presented. This monograph is intended for economists who are interested in international trade or international finance, including graduate students who specialize in these fields.
Author: Avinash K. Dixit
Publisher: Cambridge University Press
Published: 1980-09-30
Total Pages: 352
ISBN-13: 9780521299695
DOWNLOAD EBOOKThis book emphasizes that a trading equilibrium is general rather than partial, and is often best modeled using dual or envelope functions.
Author: Raveendra N. Batra
Publisher: Springer
Published: 1975-06-18
Total Pages: 145
ISBN-13: 134902208X
DOWNLOAD EBOOKAuthor: Raveendra N. Batra
Publisher:
Published: 1975
Total Pages: 135
ISBN-13: 9781349022090
DOWNLOAD EBOOKAuthor: Peter John Lloyd
Publisher: Edward Elgar Publishing
Published: 2003
Total Pages: 584
ISBN-13:
DOWNLOAD EBOOKThis authoritative new collection presents a selection of previously published seminal articles that have led to the development of intra-industry trade theory and empirical research. Parts I and II cover the pioneering research in the 1960s and a number of models of intra-industry trade that were developed from 1979 to the present day. Parts III and IV look at the empirical research problems in the choice of measure of intra-industry trade and empirical studies that seek to identify the nature of this trade. Part V deals with the role of the multinational corporation and part VI completes the collection with articles that look at extensions to asset markets and applications to other problems such as the geography of trade and rules of origin. Intra-Industry Trade will be an invaluable source of reference to all international trade economists and libraries specialising in this area.
Author: Robert K. Dixit
Publisher: Princeton University Press
Published: 2012-07-14
Total Pages: 484
ISBN-13: 1400830176
DOWNLOAD EBOOKHow should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Author: Peter J. Katzenstein
Publisher: Cambridge University Press
Published: 2018-01-18
Total Pages: 383
ISBN-13: 1108425178
DOWNLOAD EBOOKMainstream international relations continues to assume that the world is governed by calculable risk based on estimates of power, despite repeatedly being surprised by unexpected change. This ground breaking work departs from existing definitions of power that focus on the actors' evolving ability to exercise control in situations of calculable risk. It introduces the concept of 'protean power', which focuses on the actors' agility as they adapt to situations of uncertainty. Protean Power uses twelve real world case studies to examine how the dynamics of protean and control power can be tracked in the relations among different state and non-state actors, operating in diverse sites, stretching from local to global, in both times of relative normalcy and moments of crisis. Katzenstein and Seybert argue for a new approach to international relations, where the inclusion of protean power in our analytical models helps in accounting for unforeseen changes in world politics.
Author: Mr.JaeBin Ahn
Publisher: International Monetary Fund
Published: 2011-11-01
Total Pages: 37
ISBN-13: 1463924607
DOWNLOAD EBOOKThis paper provides a theory model of trade finance to explain the "great trade collapse." The model shows that, first, the riskiness of international transactions rises relative to domestic transactions during economic downturns, and second, the exclusive use of a letter of credit in international transactions exacerbates a collapse in trade during a financial crisis. The basic model considers banks' optimal screening decisions in the presence of counterparty default risks. In equilibrium, banks will maintain a higher precision screening test for domestic firms and a lower precision screening test for foreign firms, which constitutes the main mechanism of the model.
Author: Kent Osband
Publisher: Columbia University Press
Published: 2011
Total Pages: 306
ISBN-13: 0231151721
DOWNLOAD EBOOKAuthor of the acclaimed work Iceberg Risk: An Adventure in Portfolio Theory, Kent Osband argues that uncertainty is central rather than marginal to finance. Markets don't trade mainly on changes in risk. They trade on changes in beliefs about risk, and in the process, markets unite, stretch, and occasionally defy beliefs. Recognizing this truth would make a world of difference in investing. Belittling uncertainty has created a rift between financial theory and practice and within finance theory itself, misguiding regulation and stoking huge financial imbalances. Sparking a revolution in the mindset of the investment professional, Osband recasts the market as a learning machine rather than a knowledge machine. The market continually errs, corrects itself, and makes new errors. Respecting that process, without idolizing it, will promote wiser investment, trading, and regulation. With uncertainty embedded at its core, Osband's rational approach points to a finance theory worthy of twenty-first-century investing.