Broadening Trade Theory: Incorporating Market Realities into Traditional Models - Couverture rigide

Markusen, James R

Couverture rigide

ISBN 10 : 9811222959 ISBN 13 : 9789811222955

Editeur : World Scientific Publishing Co Pte Ltd, 2021

Synopsis

This volume is a collection of the author's past and recent research. It concentrates on some topics that continue to be neglected in mainstream trade theory, but which have grown in empirical relevance as the decades have passed and allow us to broaden our world view. These include adding multinational firms and a major role for the demand side of general equilibrium to our conventional portfolio of models.

Part I in the volume focuses on multinational firms and the incorporation of endogenous location and ownership choices into general-equilibrium trade models. A particular emphasis, repeatedly confirmed in empirical studies, is on horizontal firms that replicate activities across borders. Two chapters on the vertical integration versus outsourcing decision reveal the non-excludable property of knowledge-based assets.

Part II focuses on the demand side of general equilibrium, arguing and showing empirically that non-homothetic preferences, which give an important role to per capita income, help explain many of the empirical puzzles that trade economists keep trying to explain only from the production side of general equilibrium.

Part III is eclectic, but the chapters in this section share the common thread of showing how distortions and allowing trade in factors of production both modify traditional policy ideas and also create additional sources of gains from trade.

A propos du livre

À propos de l?auteur

Professor James Markusen earned his BA and PhD degrees in Economics from Boston College. In 1990, he moved to the University of Colorado, Boulder where he holds the rank of University Distinguished Professor.

Much of his research has concentrated on the location, production, and welfare effects of multinational corporations. He is particularly known for developing the horizontal model of multinationals: the replication of firm activities in many countries better characterizes multinationals than vertical models based on production fragmentation. More recent work shows how rising incomes lead to shifts toward consuming skilled-labor intensive goods and services, thus helping to explain several international trade and skilled-wage premium puzzles.

Prof Markusen served as a researcher and advisor during the mid 1980's for the McDonald Royal Commission in Canada, which laid the foundation for the US-Canada free-trade agreement. He later worked on the North American auto industry, estimating the effects of the (then) proposed NAFTA. He has extensive experience teaching all over the world.

Détails de l'édition

• Éditeur: World Scientific Publishing Co Pte Ltd
• Date d'édition: 2021
• Langue: anglais
• ISBN 10: 9811222959
• ISBN 13: 9789811222955
• Reliure: Relié
• Nombre de pages: 382
• Coordonnées du fabricant: non disponible
• Personne responsable: gpsr@libri.de; gpsr@libri.de; ; Friedensallee 273; Hamburg; 22763; Allemagne