infonet-economy

This paper presents a multistage stochastic programming model for refinancing mortgages with non-contractual maturity under liquidity restrictions in the market. An extension to the management of other products such as savings accounts is straightforward. The evolution of interest rates is modelled by principal components for short-term and a two-factor mean reversion model with long...

This paper examines the discourses scholars in the field of entrepreneurship use to reflect upon the developments of this discipline and claims these discourses circle around three different versions of the notion of "frontier", namely as "limit", "horizon" and "in-between". While the arguments to limit and focus the field outnumber the horizon...

The current U.S. trade policy of "competitive liberalization" includes the following prominent features: stimulating a competition among trading partners for access to U.S. markets; the inclusion of provisions in trade agreements not directly related to market access; and a greater role for foreign and security policy in U.S. trade policymaking than in the past. I adapt the...

Conference Summary - This summary is organised in the same manner as the sessions of the workshop. The first day of the workshop was devoted to a discussion of four developing countries' experiences with the WTO accession process and to an open panel discussion on the relative merits of potential reforms to the WTO accession process so as to make it more development friendly....

What possible contributions to economic development can the appropriate enforcement of competition law make? What harm could result from such enforcement? These two questions are uppermost in the minds of many policymakers, analysts, and scholars as they debate the merits of introducing and then implementing national competition laws. Now that, according to some counts nearly 100...

In recent years the benefits of WTO membership has been called into question, notably in the context of discussions on WTO accessions. Previously it was widely thought that better access to the markets of existing WTO members was the quid pro quo for adopting commitments to reform domestic policies, including border measures. Here we revisit this matter and do so by focusing on the...

Employing an approach devised by Goldberg and Knetter (1999), we estimate whether European exporters exercised market power in selected East Asian markets during 1989- 2004. We find that in one-third of product lines considered here European firms exercised market power in East Asian markets for manufactured goods. Exporters from the United Kingdom were able to pass-through exchange...