Does national market size matter for industrial structure? Round One (Krugman) answered in the affirmative: Home market effects matter. Round Two (Davis) refuted this, arguing that an assumption of convenience–transport costs only for the differentiated goods–conveniently obtained the result. In Round Three we relax another persistent assumption of convenience–two industry types differentiated ...

Information frictions are often invoked to explain low levels of international trade beyond those that measured trade frictions (tariffs, transportation costs, etc.) can explain. But to explain why international trade is lower then domestic trade, home firms have to know something that foreigners do not. Without information asymmetry, domestic trade and foreign trade would be inhibited equally....

This paper extends Symeonidis (2003)’s duopoly model with product differentiation to discusses how FDI spillovers that decreases the quality difference between vertically differentiated products of the home and foreign firms affects the home firm’s decision on plant location. This paper shows that whether the degree of spillover is exogenous or endogenous, it may have a positive relationship wi...

Does home market size matter for the pattern of trade? Krugman started the literature, showing it does matter. Davis overturned his result, arguing that an assumption of convenience—transport costs only for the differentiated goods—conveniently obtained the result. Here we relax another persistent assumption of convenience—two industry types differentiated only by the degree of scale economies—...

This paper utilizes International Monetary Fund’s high quality dataset over the period from 2001 to 2004, to investigate the determinants of home bias in the international context. This paper contributes to the existing literature by using float adjusted measure of home bias for 38 countries. Information asymmetries arising due to countries’ regulatory and legal environment have significant imp...

The following report is the result of an extensive search into whole-house system interactions, definitions, as well as past and on-going programs that have embraced systems design for the home. The report also provides a collection of information regarding current home subsystems and home system definitions. Attachment A identifies and discusses government programs and trade publications, whil...

Where do new markets come from? I construct a network model in which national markets are nodes and flows of recorded music between them are links and conduct a longitudinal analysis of the global pattern of trade in the period 1976 to 2010. I hypothesize that new export markets are developed through a process of transitive closure in the network of international trade. When two countries’ mark...

Trade-offs between the benefits of current reproduction and the costs to future reproduction and survival are widely recognized. However, such trade-offs might only be detected when resources become limited to the point where investment in one activity jeopardizes investment in others. The resolution of the trade-off between reproduction and self-maintenance is mediated by hormones such as gluc...

We consider policy issues regarding parallel imports (PIs) of brand-name pharmaceuticals in the European Union, where such trade is permitted. We develop a simple model in which an original manufacturer competes in its home market with PI firms. The model suggests that for small trade costs the original manufacturer will accommodate the import decisions of parallel traders and that the price in...

After the 2011 accident at the Fukushima Daiichi nuclear power plant, nursing-home residents and staff were evacuated voluntarily from damaged areas to avoid radiation exposure. Unfortunately, the evacuation resulted in increased mortalities among nursing home residents. We assessed the risk trade-off between evacuation and radiation for 191 residents and 184 staff at three nursing homes by usi...