Now showing items 1-20 of 83

    • Foreign Portfolio Investors before and during a Crisis 

      Wei, Shang-Jin; Kim, Woochan (1999-03)
      Using a unique data set, we study the trading behavior of foreign portfolio investors in Korea before and during the currency crisis. Different categories of investors have significant differences as well as similarities. ...
    • The Big Players in the Foreign Exchange Market: Do They Trade on Information or Noise? 

      Wei, Shang-Jin; Kim, Jungshik (1999-03)
      This paper studies whether there exists private information in the foreign exchange market, and whether speculation reduces or exacerbates volatility. It makes use of a recent data set on foreign currency positions by large ...
    • Specialization, Information, and Growth: A Sequential Equilibrium Analysis 

      Ng, Yew-Kwang; Yang, Xiaokai (1999-03)
      Pricing costs and information problems are introduced into a framework with consumer-producers, economies of specialization, and transaction costs to predict the endogenous and concurrent evolution in division of labor and ...
    • The Changing Global Distribution of Malaria: A Review 

      Hamoudi, Amar; Sachs, Jeffrey D. (1999-03)
    • Trade Pattern and Economic Development when Endogenous and Exogenous Comparative Advantages Coexist 

      Sachs, Jeffrey D.; Yang, Xiaokai; Zhang, Dingsheng (1999-03)
      This paper applies the infra-marginal analysis, which is a combination of marginal and total cost-benefit analysis, to a model with both constant returns and increasing returns in production and with exogenous and endogenous ...
    • Overinvestment, Collateral Lending, and Economic Crisis 

      Kim, Yong Jin; Lee, Jong-Wha (1999-03)
      This paper presents a model in which a high growth economy becomes susceptible to a sudden financial crisis. In the model firms are motivated to over-invest because of government subsidies and then bear the burden of the ...
    • The Division of Labor, Investment, and Capital 

      Yang, Xiaokai (1999-03)
      This paper uses a dynamic general equilibrium model based on corner solutions to formalize the classical theory of investment and capital which considers investment to be a vehicle for developing a high level of division ...
    • Division of Labor, Transaction Cost, Emergence of the Firm and Firm Size 

      Liu, Pak-Wai; Yang, Xiaokai (Center for International Development at Harvard University, 1999-04)
      In this paper a general equilibrium model is constructed to explain the emergence of firms and change in firm size by the tradeoff between economies of specialization and transaction cost. We show that firms emerge from ...
    • Pattern of Trade and Economic Development in the Model of Monopolistic Competition 

      Sachs, Jeffrey D.; Yang, Xiaokai; Zhang, Dingsheng (Center for International Development at Harvard University, 1999-04)
      The paper introduces differences in production and transaction conditions between countries into the model of monopolistic competition to investigate the interplay between trade policies and development strategies. It ...
    • A Ricardian Model with Endogenous Comparative Advantage and Endogenous Trade Policy Regimes 

      Cheng, Wen Li; Liu, Meng-chun; Yang, Xiaokai (Center for International Development at Harvard University, 1999-04)
      This paper develops a general equilibrium model with transaction costs and endogenous and exogenous comparative advantages. In the model, the governments are allowed to choose between tariff war, tariff negotiation, and ...
    • Gradual Spread of Market-Led Industrialization 

      Sachs, Jeffrey D.; Yang, Xiaokai (Center for International Development at Harvard University, 1999-04)
      The paper introduces asymmetric production conditions between firms and asymmetric transaction conditions between countries into the Murphy-Shleifer-Vishny model of industrialization. It explores a general equilibrium ...
    • An Inframarginal Analysis of the Heckscher-Olin Model with Transaction Costs and Technological Comparative Advantage 

      Cheng, Wen Li; Sachs, Jeffrey D.; Yang, Xiaokai (Center for International Development at Harvard University, 1999-04)
      In the paper we introduce technological comparative advantage and transaction costs into the Heckscher-Olin (HO) model and refine the HO theorem, the Stolper-Samuelson theorem, the Rybczynski theorem, and factor equalization ...
    • An Infra-marginal Analysis of the Ricardian Model 

      Cheng, Wen Li; Sachs, Jeffrey D.; Yang, Xiaokai (Center for International Development at Harvard University, 1999-04)
      This paper applies the infra-marginal analysis, which is a combination of marginal and total cost-benefit analysis, to the Ricardian model. It demonstrates that the rule of marginal cost pricing does not always hold. It ...
    • Demographic Change and Economic Growth in Asia 

      Bloom, David; Canning, David; Malaney, Pia N. (Center for International Development at Harvard University, 1999-05)
      This paper examines the links between demographic change and economic growth in Asia during 1965-90. We show that the overall rate of population growth had little effect on economic growth, but that changes in life expectancy, ...
    • Theoretical Foundation of Economic Development Based on Networking Decisions in the Competitive Market 

      Yang, Xiaokai; Sun, Guangzhen; Yao, Shuntian (Center for International Development at Harvard University, 1999-05)
      In the paper, an analytical framework with both increasing returns and transaction costs is developed to investigate the general equilibrium with endogenous specialization and division of labor. In this framework, each ...
    • International Trade and Income Distribution 

      Yang, Xiaokai; Zhang, Dingsheng (Center for International Development at Harvard University, 1999-06)
      This paper applies the inframarginal analysis, which is a combination of marginal and total cost-benefit analysis, to investigate the relationship between division of labor, the extent of the market, productivity, and ...
    • Ownership and Managerial Competition: Employee, Customer, and Outside Ownership 

      Bolton, Patrick; Xu, Chenggang (Center for International Development at Harvard University, 1999-06)
      This paper centers around the question of ownership of firms and managerial competition and how these affect managers and employees' incentives to invest in human capital. We argue that employees' incentives in human capital ...
    • In Quest of the Political: The Political Economy of Development Policy Making 

      Grindle, Merilee (Center for International Development at Harvard University, 1999-06)
      This paper explores some of the central debates in the application of political economy to development policy making. It is particularly concerned with the connection between theory, empirical observation, and the practice ...
    • Local Growth Theory 

      Rappaport, Jordan (Center for International Development at Harvard University, 1999-06)
      What is the effect of factor mobility on income convergence? Why are population flows so persistent? Extending the neoclassical growth model to allow for mobile labor, in a long run steady state, individuals and firms ...
    • Financial Institutions, Financial Contagion, and Financial Crises 

      Huang, Haizhou; Xu, Chenggang (Center for International Development at Harvard University, 1999-07)
      This paper endogenizes financial contagion and financial crises from financial institutions. We show that financial crises can emanate from financial institutions which generate soft-budget constraints (SBC). The prevailing ...