| 日時： （Date&Time) |
9月6日（金）午後1時30分から （Friday, September 6, 1:30pm〜） |
| 報告者： （Speaker） |
Hong HWANG |
| 所属： （Affiliation） |
National Taiwan University |
| 論題： （Topic） |
Production Function and Optimal Trade Policy in Vertically Related Markets  |
| 概要： （Abstract） |
When modeling vertically related markets, most of the literature on trade and industrial organization assumes a fixed-coefficient technology. This paper shows that optimal policies may be reversed if the fixed-coefficient technology assumption is relaxed. The model is based on three countries with the home country importing an intermediate good from a foreign monopolistic supplier, manufacturing the entire final product at home, and then exporting it to another foreign market in which it has monopoly power. When the technology is of Cobb-Douglas type, exhibiting a strongly diminishing return to scale, it is shown that the optimal trade policy is one of subsidizing either the import of the intermediate good, or the export of the final good.This result runs contrary to the findings of Ishikawa and Spencer (1999) in which fixed-coefficient technology was assumed. Moreover, the welfare level under the optimal import policy is higher than (equivalent to) that under the optimal export policy when the technology in question exhibits increasing (constant) returns to scale, whilst the welfare ranking is, in general, reversed, where the returns to scale are diminishing. |
| 会場： (Place) |
神戸大学経済経営研究所 会議室 （兼松記念館 新館2階） Meeting Room (New Building 2nd floor) |
| 備考： (Note) |
論文のコピーは開催日の１週間前に研究助成室にご用意いたします。 |