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Trade Policy and Market Structure
Elhanan Helpman , and Paul Krugman Manufacturer: The MIT Press ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 0262580985 |
Book Description
This sequel to Market Structure and Foreign Trade examines the new international trade's applied side. It provides a compact guide to models of the effects of trade policy in imperfectly competitive markets, as well as an up-to-date survey of existing knowledge, which is extended by the authors' useful interpretations of the results.Customer Reviews:
Review of "Trade Policy and Market Structure".......2000-11-13
The three central issues that recur in this book are the effects of trade policy on market power, the strategic effect of trade policy on competition and the effect of trade policy on consumer choice.
The defining feature of imperfect competition is that firms do not take prices as given. As a result they do not regard the sole effect of selling another unit of output on their revenue as being the price of that unit; they have some conjecture about what effect selling more will have on the revenue they get from inframarginal sales. The end result is that price normally exceeds marginal cost.
The ratio of price to marginal cost is one measure of market power. A trade policy may alter the markup of price over marginal cost in ways that are benefitial or harmful to the country that initiates the policy.
This book shows that problems involving market power can be analyzed by focusing on perceived marginal revenue -- the increase in revenue that a firm expects to receive by producing one more unit, which is always less than the price (because of the effect on intramarginal sales) but may exceed the true marginal revenue that would prevail if the industry acted in concert.
An aspect of the new literature on trade policy under imperfect competition is the possibility that interventionist trade policies may have beneficial strategic effects. A strategic move is an action that is not profitable viewed in isolation but that alters the terms of subsequent competition to a firm's benefit. For instance, a firm may invest in excess capacity that it does nor intend to use, but whose presence deters potential competitors from entering the market. Government trade policies may serve the same kind of role.
Some questions that this book brings up in this regard are: How likely is it that a government will be able to have the information necessary to conduct a successful strategic policy? and Are there likely to be offsetting effects in the kind of industry to which the strategic trade argument might apply?
Making a commodity is costly, but if its price exceeds its marginal cost, then the resources used to produce it might not have an equally productive use elsewhere. In priciple, policies that induce consumers to purchase domestic goods whose price surpasses marginal cost may raise national income.
Protection can under some circumstances induce an increase in domestic production that actually lowers prices to consumers.
Arguments based on imperfect competition, external economies and factor market distortions have substantial empirical support and are the most powerful professionally respectable arguments against free trade.
In international trade policy analysis, distortions that could justify government intervention were superimposed on a theoretical structure whose logic was that of competitive equilibrium. In the new theory the imperfections are built into the structure from the get go.
The reasons for treating trade policy conclusions cautiously are: 1) Uncertainty, the effects of a given policy may depend crucially on the details of the market. 2) Domestic political economy, there are people eager to appropriate the result of new trade theories to support dubious causes. 3) International rivalry, a policy that benefits one country acting unilaterally may be harmful if everyone does it.
Since quantitative analyses seem to indicate that the gains from even optimal intervention are small, many economists have suggested that free trade remains a useful rule of thumb, even though it is rarely optimal in modern trade policies.
The book develops the arguments gradually, starting with market structures that exhibit one-sided market power and moving on to those that show two-sided market power. After providing background on trade policy in a competitive environment, the authors discuss import protection by a country with a domestic monopoly or oligopoly. Then they deal with import protection in an economy that faces a foreign monopoly or oligopoly, while domestic supply is nonexistant or competitive.
Later in the book strategic interactions come in to play beginning with an export-market scenario whereby domestic firms with monopoly power compete with foreign firms with monopoly power too. This is followed by an exploration of the role of strategic interactions in a domestic market in which domestic firms with market power compete with foreign firms with market power as well.
Trade policy in the presence of two-way trade, which may arise from monopolistic competition in differentiated products or for strategic reasons, is also examined in this volume. Finally, the authors review the recent literature that tries to quantify the effects of trade policy in noncompetitive environments. The new methodology and the numerical results are discussed.
There are four main areas in the analysis of trade policy under imperfect competition that deserve further investigation: 1) Models of market structure that make size distribution of firms endogenous. 2) Models of cooperative behavior to reflect some real-world activities of oligopolists. 3) Models with real dynamics in which trade policy can change the long-run rate of growth. 4) Quantification to confront the models with data so as to narrow down the possibilities.
In its time, this was a ground-breaking book. Hopefully, since its publication in 1989, economic researchers around the world could have taken note of the fields where deeper work was needed and made significant progress in constructing better models. By now, there should be already something in print that sums up the gains in the past decade, so it would be advisable to try to look up these updated books too.
should be required reading for trade policymakers everywhere.......2000-11-09
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The Politics of Freeing Markets in Latin America: Chile, Argentina, and Mexico
Judith A. Teichman Manufacturer: The University of North Carolina Press ProductGroup: Book Binding: Paperback Similar Items: ASIN: 0807849596 Release Date: 2000-12-09 |
Book Description
In the 1980s and 1990s, nations throughout Latin America experienced the dual transformations of market liberalizing reforms and democratization. Since then, perhaps no issue has been more controversial among those who study the region than the exact nature of the relationship between these two processes. Bringing a much-needed comparative perspective to the discussion, Judith Teichman examines the politics of market reform in Chile, Argentina, and Mexico, analyzing its implications for democratic practices in each case.Teichman considers both internal and external influences on the process of Latin American market reform, anchoring her investigation in the historical, political, and cultural contexts unique to each country, while also highlighting the important role played by such international actors as the World Bank and the International Monetary Fund (IMF). Informed by interviews with more than one hundred senior officials involved in the reform process, her analysis reveals that while the initial stage of market reform is associated with authoritarian political practices, later phases witness a rise in the importance of electoral democracy. She concludes, however, that the legacy of authoritarian decision making represents a significant obstacle to substantive democratization.
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Competition in Electricity: New Markets & New Structures
Manufacturer: Public Utilities Reports ProductGroup: Book Binding: Hardcover ASIN: 091032526X |
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Global Competition in Financial Services: Market Structure, Protection, and Trade Liberalization (American Enterprise Institute Trade in Services Series)
Ingo Walter Manufacturer: Ballinger Pub. Co. ProductGroup: Book Binding: Hardcover ASIN: 0887302343 |
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Telecommunications Equipment: Changing Markets and Trade Structures (Information Computer Communications Policy)
Manufacturer: Organization for Economic Cooperation & Devel ProductGroup: Book Binding: Paperback ASIN: 9264135537 |
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Unions and Public Policy: The New Economy, Law, and Democratic Politics (Contributions in Political Science)
Manufacturer: Greenwood Press ProductGroup: Book Binding: Hardcover ASIN: 0313298009 |
Book Description
The future of unions in the United Statres is a hotly contested matter. While different commentators reach different conclusions, all agree that public policy will be of vital importance to the union movement. The present volume considers a wide range of policy questions, analyzed by a variey of experts in the field, and is organized in four parts: a brief introduction considering the current policy climate for unions; policy and the new workplace; labor and economic issues; and, finally, political strategy and democratic politics. This work will be of interest to scholars and policymakers in labor studies, labor economics, labor law and industrial organization.
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The effect of government policy instruments on the market structure of the Ohio fluid milk processing industry (Economics and sociology occasional paper)
Richard L Kilmer Manufacturer: Ohio State University, Dept. of Agricultural Economics and Rural Sociology, Agricultural Finance Program ProductGroup: Book Binding: Unknown Binding ASIN: B00073C56C |
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Food system organization, performance and public policies, working paper series
Donghwan Kim Manufacturer: University of Wisconsin--Madison, Food System Research Group, Dept. of Agricultural Economics ProductGroup: Book Binding: Unknown Binding ASIN: B0006SC8CE |
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Horizontal market power in wholesale power markets (Industry structure monograph series)
Paul L Joskow Manufacturer: Edison Electric Institute] ProductGroup: Book Binding: Unknown Binding ASIN: B0006QBF2A |
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Market structure and performance: The role of international factors in a trade liberalization (Discussion paper : report)
Jaime De Melo Manufacturer: Development Research Dept., Economics and Research Staff, World Bank ProductGroup: Book Binding: Unknown Binding ASIN: B0006YJWKY |
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Super-Flexibility for Knowledge Enterprises
Homa Bahrami , and Stuart Evans Manufacturer: Springer ProductGroup: Book Binding: Hardcover ASIN: 3540205764 |
Book Description
Business enterprises are transforming their core practices in the digital age. The emerging imperative is to become super-flexible, in order to thrive, or, at least survive, in volatile environments. Super-flexibility refers to the ability to be agile and versatile, like an entrepreneurial company, coupled with the capacity to remain robust and resilient, much like an established company. Super-flexible enterprises move swiftly, manage for the moment, and ride successive waves of technological innovation, while providing a few enduring anchors of stability and cohesion.
This book details how knowledge enterprises can harness uncertainty by becoming super-flexible. Based on over 20 years of practical experience in Silicon Valley, the authors present conceptual frameworks, illustrative examples and practical lessons for strategizing, organizing and managing knowledge-based enterprises in turbulent settings.
Features
* Combines theoretical concepts with practical lessons
* Addresses the challenges facing the new generation of entrepreneurial, knowledge-based companies
* Details how established enterprises can learn from Silicon Valley in order to adapt to new realities and how they can harness emerging opportunities
* Distills 20 years of field research and practical experience with a diverse range of tech companies in Silicon Valley.
Customer Reviews:
Excellent in both style and substance.......2005-05-17
A rigorous conceptualization.......2004-12-23
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Marketing Competences and Strategic Flexibility in China
Yonggui Wang , and Richard Li-Hua Manufacturer: Palgrave Macmillan ProductGroup: Book Binding: Hardcover ASIN: 0230013503 Release Date: 2007-01-23 |
Book Description
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Strategic Flexibility: Managing in a Turbulent Environment
Manufacturer: Wiley ProductGroup: Book Binding: Hardcover Similar Items:
ASIN: 0471984736 |
Book Description
Moving towards the zenith of the technological age brings with it an ever-increasing amount of uncertainty, change and flux. Academic, business and consultative commentators around the world have for years been speculating on the divergent courses we may take through the information maze, and on the different possibilities we may attain when we get there. What is needed now is not another set of possibilities, but an entirely new way of looking, seeing and responding. The worldwide turbulence will require different perspectives on organizations, different styles of leadership, and perhaps most important, the strategic flexibility on which this volume focuses. This is summed up by Gary Hamel and C. K. Prahalad: "Developing a program of ideas new ideas, new theory, new applications, new concepts that are relevant to a manager facing the new millennium To do that we need to escape old constraints, old thinking, old questions, and address everything that is new. We hope that we can work together to help set the research agenda for the field of strategic management in the year 2000 and beyond. Lets break out of old paradigms; lets challenge received dogma; lets have the courage to ask new questions; lets rekindle our passion for relevance."Customer Reviews:
Chapter 5 (The H-P Way).......2000-05-24
Your response in this matter is highly appreciated. Thank you.
Best Regards, Ramdan Yacoeb & Andalusia Ramdan. Master Program in Business Administration & Policy, Postgraduate Program University of Indonesia, and SMS member Fax.:(62)-21-48701616
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Modularity, Strategic Flexibility, and Knowledge Management
Ron Sanchez Manufacturer: Oxford University Press, USA ProductGroup: Book Binding: Hardcover ASIN: 0199240299 |
Book Description
Modularity, Strategic Flexibility, and Knowledge Management presents a revolutionary and comprehensive view of the central role that modular architectures can play in redefining product strategies, in coordinating new kinds of flexible 'modular' organizations, and in enabling new approaches to managing knowledge assets, and guiding organizational learning. The discussion of modularity draws on systems theory, options theory, and technology strategy concepts, and is complemented by numerous examples from Philips, General Electric, Volkswagen, and other companies pursuing modularity-based strategies. The volume clearly defines the core concepts of architecture and modularity, then builds on those concepts to explain the new product strategies, organization designs, and processes for knowledge management and organization learning that modular architectures make possible. The volume is written in a practical, non-technical style intended to make modularity concepts and methods readily understandable and useful to managers. At the same time, the discussion of modularity concepts is theoretically grounded and provides an essential introduction to architectures and modularity for management academics.
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Strategic Flexibility: A Management Guide for Changing Times
Kathryn Rudie Harrigan Manufacturer: Free Press ProductGroup: Book Binding: Paperback ASIN: 0669110337 |
Book Description
Many companies refuse to face the reality that their businesses are in trouble or that their strategic positions are wrong. Whether a product line is no longer profitable, foreign competition has slowed growth, or technological changes have left them behind, many otherwise well-managed companies hang on for too long to the status quo. In this inflexible posture, managements time and talent go to waste, assets grow sterile, and technology falls behind.
This book will help managers overcome the exit barriers that hamper strategic flexibility. Based on innovative studies of 192 firms within Sixteen industries, the ideas presented here are applicable to almost any industry and any type of firm. Harrigan discusses the major strategic decisions facing executives today, including guerrilla strategies of underdog competitors, entry and exit barriers, the use of joint ventures to cope with the uncertainties created by erratic growth, and the management of change. She focuses on the shortcomings of vertical integration, developing a framework for better make-or-buy decisions. The effects of exit barriers on firms' strategic flexibility are detailed, and managerial tools to cope with high barriers and declining businesses are introduced.
Strategic Flexibility is organized to provide easy reference for managers seeking to find out what strategies have worked and why. This book offers practical, proven ways for managers to expand the flexibility and responsiveness of their companies to new competitive conditions.
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Caputring the value of Flexibility. (Strategic Management).: An article from: Strategic Finance
Martha Amram , and Keith M. Howe Manufacturer: Institute of Management Accountants ProductGroup: Book Binding: Digital ASIN: B0008FX0CM Release Date: 2005-07-30 |
Book Description
This digital document is an article from Strategic Finance, published by Institute of Management Accountants on December 1, 2002. The length of the article is 1336 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Flexibility and alternative corporate strategies.: An article from: Relations Industrielles/Industrial Relations
Elena Sefertzi Manufacturer: Relations Industrielles ProductGroup: Book Binding: Digital ASIN: B00096KXBQ Release Date: 2005-07-28 |
Book Description
This digital document is an article from Relations Industrielles/Industrial Relations, published by Relations Industrielles on January 1, 1996. The length of the article is 7729 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Flexibility of manufacturing systems, strategic change and performance [An article from: International Journal of Production Economics]
F.J. Llorens , L.M. Molina , and A.J. Verdu Manufacturer: Elsevier ProductGroup: Book Binding: Digital ASIN: B000RR5Y8Y |
Book Description
This digital document is a journal article from International Journal of Production Economics, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
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FROM THE EDITOR: IT IS VITAL FOR MANUFACTURERS TO EMPHASIZE STRATEGIC FLEXIBILITY DS.: An article from: Manufacturing Automation
Manufacturer: Vital Information Publications ProductGroup: Book Binding: Digital ASIN: B0008F8N24 Release Date: 2005-07-30 |
Book Description
This digital document is an article from Manufacturing Automation, published by Vital Information Publications on April 1, 2002. The length of the article is 1425 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Hospitals should consider strategic flexibility in uncertain environments. (Focus).: An article from: Fairfield County Business Journal
Manufacturer: Westfair Communications, Inc. ProductGroup: Book Binding: Digital ASIN: B0008G0S76 Release Date: 2005-06-01 |
Book Description
This digital document is an article from Fairfield County Business Journal, published by Westfair Communications, Inc. on December 16, 2002. The length of the article is 2505 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Books:
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