Search results for " Trade"
showing 10 items of 533 documents
The Macroeconomy after Tariffs
2021
How endogenous asymmetries in interregional market access trigger regional divergence
2005
International audience; We investigate how asymmetric trade patterns in differentiated products affect the regional distribution of economic activities. The asymmetry in interregional market access is an endogenous result of price competition and industry location and arises for intermediate values of trade costs. We show that the emergence of one-way trade in differentiated products gives rise to strong agglomeration forces and leads to the absorption of the smaller region's industry by the larger region. The number of spatial equilibria increases once the pattern of trade is endogenously accounted for.
Eurosceptic Attitudes Towards the Transatlantic Trade and Investment Partnership: Who are the Trendsetters and Followers?
2020
Since the Hooghe et al.(2002) publication about party positions on European integration, a comparison of radical right and radical left Eurosceptic parties is not often conducted. In literature about Euroscepticism, the image of the horseshoe or “inverted U” illustrates the orientation of Euroscepticism among parties without any deeper analysis. This paper tries fill the research gap by investigating whether these two Eurosceptic groups are distinct from each other in the area of EU trade policy by analyzing the debate surrounding the Transatlantic Trade and Investment Partnership (TTIP). Using European Parliament debates about this EU-US partnership, the author tries give answers to the fo…
Pecking Order Versus Trade-off: An Empirical Approach to the Small and Medium Enterprise Capital Structure
2003
In this paper, we explore two of the most relevant theories that explain financial policy in small and medium enterprises (SMEs): pecking order theory and trade-off theory. Panel data methodology is used to test the empirical hypotheses over a sample of 6482 Spanish SMEs during the five-year period 1994?1998. The results suggest that both theoretical approaches contribute to explain capital structure in SMEs. However, while we find evidence that SMEs attempt to achieve a target or optimum leverage (trade-off model), there is less support for the view that SMEs adjust their leverage level to their financing requirements (pecking order model). En este trabajo, exploramos dos de las teorías má…
The Structure of Financial Networks
2010
We present here an overview of the use of networks in Finance and Economics. We show how this approach enables us to address important questions as, for example, the structure of control chains in financial systems, the systemic risk associated with them and the evolution of trade between nations. All these results are new in the field and allow for a better understanding and modelling of different economic systems.
The international debt problem: An analysis of the Brady plan
1989
Recently the American Treasury Secretary, Nicholas Brady, launched a new initiative in which he proposed reducing the developing countries’ bank debt. What are the elements of the plan, and which countries would benefit? What problems does it entail? Can it bring about a decisive improvement in the international debt situation of the developing countries? The following two articles attempt to answer these questions.
A Comprehensive Look at the Real-Life Performance of Moving Average Trading Strategies
2015
Despite the enormous current interest in market timing and a series of publications in academic journals, there is still lack of comprehensive research on the evaluation of the profitability of trading rules using methods that are free from the data-snooping bias. In this paper we utilize the longest historical dataset that spans 155 years and extend previous studies on the performance of moving average trading rules in a number of important ways. Among other things, we investigate whether overweighting the recent prices improves the performance of timing rules; whether there is a single optimal lookback period in each trading rule; and how accurately the trading rules identify the bullish …
Cartels Uncovered
2018
How many cartels are there? The answer is important in assessing the efficiency of competition policy. We present a Hidden Markov Model that answers the question, taking into account that often we do not know whether a cartel exists in an industry or not. Our model identifies key policy parameters from data generated under different competition policy regimes and may be used with time-series or panel data. We take the model to data from a period of legal cartels - Finnish manufacturing industries 1951 - 1990. Our estimates suggest that by the end of the period, almost all industries were cartelized.
The charter of foreigners merchant ships in the expulsion of the Andalusia Moriscos
2009
El embarque de moriscos a bordo de navíos mercantes de origen extranjero constituye una faceta interesante en el estudio del proceso de expulsión andaluz. Debido a la escasa participación de las escuadras reales y la necesidad de llegar a acuerdos concretos con los que suministrar embarcaciones para el transporte de los moriscos, la Corona y sus representantes se verían obligados a llegar a diferentes compromisos con los cónsules de las naciones de extranjeros, y algunos mercaderes particulares, para garantizar unos traslados que, de otra manera, se hubieran retrasado en exceso complicando toda la operación. De este modo y con el paso de las semanas, acabaría por evidenciarse el peso especí…
Flexibility, Segmentation and Use of Labour in Finnish Retail Trade
1990
The purpose of the study is to analyse the effects of management strategies on the segmentation of five department store labour markets in Finland. (1) The competitive strategies of firms are expected to have different con sequences for the use of labour (2) Within firms, the differentiated use of labour is examined in relation to the use of different flexibility strategies In department stores the most important strategy for obtaining (numerical) flexibility has been the fast growth of part-time work.