Research joint ventures in an international economy

D'Aspremont and Jacquemin's (1988) model is extended to studyalternative configurations of research agreements in a two--country integratedworld economy. Under unambiguous conditions on spillovers we show that:1) Allowing national firms to cooperate in R\&D confers them an advantageover foreign rivals, an effect similar to R\&D subsidies. 2) In a policygame, each government would allow national cooperative agreements. 3) Contraryto other trade policies which lead to a ``prisoners' dilemma'' result,welfare in both countries increases when they both allow R\&D cooperation.4) Welfare is even higher if a generalized (international) coalition isformed.

International consumption risk sharing

This paper formally examines the implications of international consumptionrisk sharing for a panel of industrialized countries. We theoretically derivethe international consumption insurance proposition in a simple setup and showhow it should be modified in more complicated models. We empirically analyzethe implications of the theory for pairs of countries across frequencies of thespectrum and find that aggregate domestic consumption is almost completelyinsured against idiosyncratic real, demographic, fiscal and monetary shocksover short cycles, but that it covaries with these variables over medium andlong cycles. The cross equation restrictions imposed by the theory are, ingeneral, rejected. The policy implications of the results are discussed.

On money as a medium of exchange when goods vary by supply and demand

Models of the exchange process based on search theory can be usedto analyze the features of objects that make them more or less likely toemerge as ``money'' in equilibrium. These models illustrate the trade--offbetween endogenous acceptability (an equilibrium property) and intrinsiccharacteristics of goods, such as storability, recognizability, etc. Inthis paper, we look at how the relative supply and demand for various goodsaffect their likelihood of becoming money. Intuitively, goods in highdemand and/or low supply are more likely to appear as commodity money,subject to the qualification that which object ends up circulating as amedium of exchange depends at least partly on convention. Welfare propertiesare discussed.

Geographical effects on the accuracy of textile trade data:an international approach for 1913

Foreign trade statistics are the main data source to the study of international trade.However its accuracy has been under suspicion since Morgernstern published hisfamous work in 1963. Federico and Tena (1991) have resumed the question arguing thatthey can be useful in an adequate level of aggregation. But the geographical assignmentproblem remains unsolved. This article focuses on the spatial variable through theanalysis of the reliability of textile international data for 1913. A geographical biasarises between export and import series, but because of its quantitative importance it canbe negligible in an international scale.

International Update, December 2007/January 2008

News from the Iowa International Trade Team

Audit report on Community Colleges for International Development, Inc., Cedar Rapids, Iowa for the year ended June 30, 2007

Audit report on Community Colleges for International Development, Inc., Cedar Rapids, Iowa for the year ended June 30, 2007

Droit public Comparé, Système de droit contemporain et Diversité Culturelle

Les efforts pour créer une Cour pénale internationale au niveau global remontent à la fin du 19e siècle, quand Gustave Moynier- l’un des fondateurs du Comité international de la Croix-Rouge propose la création d’un tribunal d’arbitrage international destiné à pénaliser les violations des lois humanitaires internationales perpétrées durant la guerre franco-prussienne de 1870-71. Quelques années plus tard, la société des Nations reprit la tâche en 1937, en adoptant une convention pour la création d’une Cour pénale internationale, mais cette convention n’entra jamais en vigueur. Suite à l’établissement des tribunaux de Nuremberg et de Tokyo, après la Seconde Guerre Mondiale afin d’améliorer la situation, l’Assemblée générale des Nations unies adopta une résolution en 1948 chargeant la Commission du droit international (CDI) de la tâche de préparer un projet de statut pour la création d’un tribunal pénal international permanent ayant une compétence pour juger le génocide et d’autres crimes de ce genre. En effet, la Cour pénale internationale (CPI) a été créée en 1998, pour que les responsables de génocide, de crime contre l’humanité et des crimes de guerre répondent enfin de leurs actes. C’est-à-dire être jugés devant un tribunal pénal international et que les victimes soient reconnues et réhabilitées pour prévenir la récurrence des graves crimes qu’elles ont subis et pour retenir la main des criminels. Prévu par le Statut de Rome de 17 Juillet 19981 dans son article 5 paragraphe 1er, ces crimes sont classés en quatre types : « Les crimes de guerres ; les crimes contre l’humanité ; les crimes de génocide et le crime d’agression ». Notamment, ce Statut de Rome, organise la compétence de la cour, son mode de fonctionnement, le droit applicable, ainsi que les modalités de coopération entre les Etats parties. Par ailleurs, la Cour pénale internationale est une institution indépendante, ayant une personnalité juridique internationale qui n’appartient pas au système des Nations Unies. Son siège se trouve à la Haye. Cependant, ses dépenses sont assurées par les Etats parties et certaines organisations internationales, des particuliers, les organisations non gouvernementales…

Relative price riddles in international business cycle theory: Are transport costs the explanation?

We study relative price behavior in an international business cyclemodel with specialization in production, in which a goods marketfriction is introduced through transport costs. The transporttechnology allows for flexible transport costs. We analyze whetherthis extension can account for the striking differences betweentheory and data as far as the moments of terms of trade and realexchange rates are concerned. We find that transport costs increaseboth the volatility of the terms of trade and the volatility of thereal exchange rate. However, unless the transport technology isspecified by a Leontief technology, transport costs do not resolvethe quantitative discrepancies between theory and data. Asurprising result is that transport costs may actually lower thepersistence of the real exchange rate, a finding that is in contrastto much of the emphasis of the empirical literature.

Consumer Advisory Bulletin, International Lottery Schemes: You're the Loser!, April 2004

The Attorney General’s Consumer Protection Division receives hundreds of calls and consumer complaints every year. Follow these tips to avoid unexpected expense and disappointments. This record is about: International Lottery Schemes: You're the Loser!

International commodity prices, growth and the outbreak of Civil War in Sub-Saharan Africa

To learn more about the effect of economic conditions oncivil war, we examine whether Sub-Saharan civil wars aremore likely to start following downturns in the internationalprice of countries main export commodities. The data showa robust effect of commodity price downturns on the outbreakof civil wars. We also find that Sub-Saharan countries aremore likely to see civil wars following economic downturnsin their main OECD export destinations.