Handbook of International Economics

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Front Cover 2
Handbook of International Economics 5
Copyright Page 6
Introduction to the Series 7
Contents of the Handbook 9
Preface to the Handbook 13
Table of Contents 21
PART 1: INTERNATIONAL TRADE THEORY AND POLICY 31
- Chapter 24. Increasing Returns, Imperfect Competition and the Positive Theory of International Trade 33
  - O. Introduction 34
  - 1.The integrated-economy approach to international trade 35
  - 2. Market segmentation 51
  - 3. Unresolved issues and future concerns 61
  - 4. Concluding remarks 66
  - References 66

Front Cover 2
Handbook of International Economics 5
Copyright Page 6
Introduction to the Series 7
Contents of the Handbook 9
Preface to the Handbook 13
Table of Contents 21
PART 1: INTERNATIONAL TRADE THEORY AND POLICY 31
- Chapter 24. Increasing Returns, Imperfect Competition and the Positive Theory of International Trade 33
  - O. Introduction 34
  - 1.The integrated-economy approach to international trade 35
  - 2. Market segmentation 51
  - 3. Unresolved issues and future concerns 61
  - 4. Concluding remarks 66
  - References 66
- Chapter 25. Technology and Trade 69
  - O. Introduction 71
  - 1. Exogenous technology 73
  - 2. Learning-by-doing 82
  - 3. Innovation 97
  - 4. Further topics 113
  - References 124
- Chapter 26. International Trade Theory: The Evidence 129
  - 1. Introduction 131
  - 2. Empirical studies of the Ricardian and Ricardo-Viner models 133
  - 3. The Hechscher-Ohlin model 135
  - 4. Models with monopolistic competition 165
  - 5. Demand-side explanations for international trade 172
  - 6. International trade and distance between partners 174
  - Appendix: Data sources 178
  - References 180
- Chapter 27. Strategic Trade Policy 185
  - 1. Introduction 187
  - 2. The game theoretic structure of strategic trade policy 189
  - 3. Profit-shifting export subsidies in a "third-market" model 193
  - 4. Strategic trade policy in the reciprocal-markets model 216
  - 5. Calibration of strategic trade policy models 227
  - 6. Concluding remarks 235
  - References 240
- Chapter 28. Political Economy of Trade Policy 247
  - 2. General considerations 248
  - 1. Introduction 248
  - 3. A typology of models 253
  - 4. Why is international trade not free? 260
  - 5. Why are trade policies biased against trade? 266
  - 6. Protection across industries, countries, and time 270
  - 7. Consequences of viewing trade policy from political-economy lenses 277
  - 8. Concluding remarks 280
  - References 280
- Chapter 29. International Rules and Institutions for Cooperative Trade Policy 285
  - 1. Introduction 287
  - 2. The structure of international trade agreements 288
  - 3. Strategic interaction and the benefits from international trade agreements 298
  - 4. Enforcement of international trade rules 309
  - 5. The process of reciprocal trade liberalization 318
  - 6. Safeguards and managed trade 328
  - 7. Antidumping law and countervailing duties 332
  - 8. Conclusion 337
  - References 337
- Chapter 30. Estimating the Effects of Trade Policy 343
  - 1. Introduction 344
  - 2. General Framework 346
  - 3. Tariffs 349
  - 4. Quotas 360
  - 5. Estimating markups 370
  - 6. Wages and employment 373
  - 7. Conclusions 379
  - References 380
- Chapter 31. Regional Economic Integration 387
  - 1. Introduction 388
  - 2. Allocation effects 392
  - 3. Accumulation effects 404
  - 4. Location effects 406
  - 5. Empirical evaluations 415
  - 6. Regionalism and world trading arrangements 424
  - Appendices 428
  - 7. Concluding comments 428
  - References 430
- PART 2: OPEN ECONOMY MACROECONOMICS AND INTERNATIONAL FINANCE 435
  - Chapter 32. Perspectives on PPP and Long-Run Real Exchange Rates 437
    - 1. Introduction 438
    - 2. Evolving tests of simple PPP 439
    - 3. Structural models of deviations from PPP 462
    - 4. Conclusions 473
    - References 474
  - Chapter 33. Empirical Research on Nominal Exchange Rates 479
    - 1. Floating exchange rates 480
    - O. Introduction 480
    - 2. Evidence from across fixed and floating regimes 495
    - 3. Speculative bubbles 497
    - 4. Evidence on the micro-structure of the foreign exchange market 499
    - 5. Conclusion: Endogenous speculative bubbles? 508
    - References 510
  - Chapter 34. The Intertemporal Approach to the Current Account 521
    - 1. Introduction 522
    - 2. The current account: Basic concepts and historical overview 523
    - 3. Intertemporal approaches to the current account 532
    - 4. Empirical evidence on the intertemporal approach 566
    - 5. How useful is the theory? 582
    - References 585
  - Chapter 35. International Trade and Business Cycles 591
    - 1. Introduction 593
    - 2. Business cycles and the current account in open economies 594
    - 3. The basic model 601
    - 4. Model solution, measurement, and calibration 606
    - 5. Business cycle and current account dynamics in the basic model: Productivity shocks 610
    - 6. Business-cycle implications of the one-good model 627
    - 7. Fiscal shocks 634
    - 8. Multi-good models 643
    - 9. New directions 649
    - References 651
  - Chapter 36. The Operation and Collapse of Fixed Exchange Rate Regimes 655
    - 2. The choice of a fixed exchange rate regime 656
    - 1. Introduction 656
    - 3. Exchange rate target zones 660
    - 4. Speculative attacks on fixed exchange rate regimes 681
    - 5. Suggestions for further reading 695
    - References 697
  - Chapter 37. Puzzles in International Financial Markets 703
    - O. Introduction 704
    - 1. The behavior of excess foreign exchange returns 706
    - 2. International portfolio allocation 740
    - References 756
  - Chapter 38. Double-Edged Incentives: Institutions and Policy Coordination 763
    - 1. General introduction 765
    - Part A. Fiscal policy 767
    - 2. Terms of trade effects 769
    - 3. Cooperation among politically motivated governments 775
    - 4. Tax competition 778
    - 5. Domestic institutions in fiscal policy 783
    - 6. International institutions in fiscal policy 788
  - Part B. Monetary policy 792
    - 7. A common framework 792
    - 8. International externalities and domestic incentives 795
    - 9. Domestic institutions in monetary policy 803
    - 10. International institutions in monetary policy 810
    - References 817
  - Chapter 39. Sovereign Debt 821
    - 1. Introduction 822
    - 2. Repayment incentives 823
    - 3. What can go wrong? 838
    - 4. What can be done? 851
    - 5. Conclusion 863
    - References 864
  - Index 869

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