Suchergebnisse

This Project examines how the retaliatory tariffs imposed by the EU in response to the US steel and aluminum tariffs affect EU prices and welfare over the period from June 2018 to May 2020. Using a partial equilibrium model that assumes perfect competition, the graphical analysis and the regression show that the prices of the goods subject to the tariffs are fully passed on to EU producers and consumers, suggesting that they bear the full burden of the tariff increase. Consequently, the EU suffers a deadweight welfare lossof almost€144 million over the two years considered.

When food prices spike in countries with large numbers of poor people, hunger and malnutrition are very likely to result in the absence of public intervention. For governments, this is also a case of political survival. Government actions often take the form of direct interventions in the market to stabilize food prices, which goes against most international advice to rely on safety nets and world trade. Despite the limitations of food price stabilization policies, they are widespread in developing countries. This paper attempts to untangle the elements of this policy conundrum. Price stabilization policies arise as a result of international and domestic coordination problems. At the individual country level, it is in the national interest of many countries to adjust trade policies to take advantage of the world market in order to achieve domestic price stability. When countercyclical trade policies become widespread, the result is a thinner and less reliable world market, which further decreases the appeal of laissez-faire. A similar vicious circle operates in the domestic market: without effective policies to protect the poor, such as safety nets, food market liberalization lacks credibility and makes private actors reluctant to intervene, which in turn forces government to step in. The current policy challenge lies in designing policies that will build trust in world markets and increase trust between public and private agents. ; Lorsque les prix alimentaires flambent dans des pays avec un grand nombre de personnes pauvres, en l'absence d'intervention publique la faim et la malnutrition sont très probables. Pour les gouvernements, intervenir est aussi une question de survie politique. Les interventions publiques prennent souvent la forme d'interventions sur le marché pour stabiliser les prix, ce qui va à l'encontre de la plupart des recommandations internationales, qui sont plutôt d'utiliser des filets de sécurité sociaux et de laisser le marché fonctionner librement. Cependant, malgré les limites des ...

When food prices spike in countries with large numbers of poor people, hunger and malnutrition are very likely to result in the absence of public intervention. For governments, this is also a case of political survival. Government actions often take the form of direct interventions in the market to stabilize food prices, which goes against most international advice to rely on safety nets and world trade. Despite the limitations of food price stabilization policies, they are widespread in developing countries. This paper attempts to untangle the elements of this policy conundrum. Price stabilization policies arise as a result of international and domestic coordination problems. At the individual country level, it is in the national interest of many countries to adjust trade policies to take advantage of the world market in order to achieve domestic price stability. When countercyclical trade policies become widespread, the result is a thinner and less reliable world market, which further decreases the appeal of laissez-faire. A similar vicious circle operates in the domestic market: without effective policies to protect the poor, such as safety nets, food market liberalization lacks credibility and makes private actors reluctant to intervene, which in turn forces government to step in. The current policy challenge lies in designing policies that will build trust in world markets and increase trust between public and private agents. ; Lorsque les prix alimentaires flambent dans des pays avec un grand nombre de personnes pauvres, en l'absence d'intervention publique la faim et la malnutrition sont très probables. Pour les gouvernements, intervenir est aussi une question de survie politique. Les interventions publiques prennent souvent la forme d'interventions sur le marché pour stabiliser les prix, ce qui va à l'encontre de la plupart des recommandations internationales, qui sont plutôt d'utiliser des filets de sécurité sociaux et de laisser le marché fonctionner librement. Cependant, malgré les limites des politiques de stabilisation des prix alimentaires, elles sont très répandues dans les pays en développement. Ce chapitre s'attache à éclairer cet état de fait. Les politiques de stabilisation des prix émergent comme le résultat de problèmes internationaux et domestiques de coordination. Il est dans l'intérêt de nombreux pays d'ajuster leurs politiques commerciales pour utiliser le marché mondial à des fins de stabilisation domestique. Mais, lorsque ces politiques commerciales se généralisent, le résultat est un marché mondial plus étroit et moins fiable, ce qui diminue d'autant l'attrait du libre-échange. Un cercle vicieux similaire opère sur le marché domestique. En l'absence de politiques à même de protéger les pauvres efficacement, comme des filets de sécurité sociaux, la libéralisation des marchés alimentaires manque de crédibilité, ce qui rend les acteurs privés réticents à s'investir, poussant les gouvernements à intervenir. L'enjeu politique actuel est donc de proposer des politiques qui permettent d'améliorer les confiances dans les marchés mondiaux et entre les acteurs privés et publics.

Intro -- Cover -- Contents -- I. Introduction -- II. Econometric Framework -- A. Baseline Model -- B. Empirical Strategy -- III. Data and Empirical Results -- A. Data -- B. Estimation Results -- C. Selected Eurozone Countries -- IV. Conclusion -- Figures -- 1. Imports of Goods by End-Use Category -- 2. Import Price Index in Korea -- 3. Imported Inputs Use in Korean Manufacturing -- 4. Import Price and Producer Price Index in Korea -- 5. Inflation Dynamics in Korea -- Tables -- 1. Unit Root Tests for Korean Sector-level Price Series -- 2. Baseline Error Correction Model (ECM) Estimation Results for Korea -- 3. Extended Error Correction Model (ECM) Estimation Results for Korea (I) -- 4. Extended Error Correction Model (ECM) Estimation Results for Korea (II) -- 5. Baseline Error Correction Model (ECM) Estimation Results for Selected European Countries -- 6. Extended Error Correction Model (ECM) Estimation Results for Selected European Countries -- References.

The paper reviews recent developments in the pass-through of international to domestic petroleum product prices, in the different fuel pricing regimes, and in fuel subsidies in a range of emerging market and developing economies. The main finding of the paper is the limited price pass-through in many countries and the consequent increase in fuel subsidies. The paper proposes that key elements of a successful strategy to contain subsidies should comprise: making subsidies explicit; making pricing mechanisms more robust; combining reductions in subsidies with measures to protect the poorest; usi

Russia prices its energy commodities domestically much lower than the prices prevailing in the international market. Using a general equilibrium framework, we analyse reasons for why Russia should or should not use such a price regulation. First, being a major exporter of energy commodities and having considerable monopolistic market power, the country is able to use its supply in order to influence the international energy prices. A rational way to channel this rent to the domestic non-energy sector and to domestic consumers is through a lower, i.e., competitive, domestic price on energy than that in the world market. Second, we introduce the classic infant-industry argument with positive intertemporal spillovers through learning-by-doing linked to current production. These spillovers are likely to be relevant for manufacturing in a transition economy, which argument creates a further reason for a deviation in the pricing of energy to domestic industrial producers from the world market prices. However, an empirical consideration of these results and the estimation of the learningby-doing curve suggest that the first effect can in principle be sizeable, while the second is only marginal and that, overall, Russia is currently subsidising its domestic energy prices clearly too much. Further, we conclude that the country should not subsidise its domestic consumers more than its domestic industry, as it does in reality. We also derive the optimal domestic energy tax and show that it is modest in comparison to its current rate. The optimal pricing policy could therefore have a marked positive effect on the international supply of energy by Russia. ; Metsäalalla havaittiin perinteisen puunjalostuksen sivuvirtojen olevan merkittävin uutta arvonlisäystä synnyttävä sovellusalue metsäalan koko arvoketjussa. Tosin sellu- ja paperiteollisuuden liepeillä näyttää edelleen oleva voimakas halu tehostaa jalostusprosesseja, missä voitaisiin hyödyntää myös bioteknologioita. Kuitenkin metsäalan kohdalla erityisesti energiasovellusten tutkimus ja koulutus näyttää olevan tulevaisuuden ala. Lisäksi muilla teollisen biotekniikan aloilla on tarvetta jatkossa kehittää tutkimusta ja koulutusta. Bioteknologian perustutkintokoulutukseen sisältyy jo nykyisellään liiketoiminnan periaatteita ja kielenkäyttöä opettavia opintokokonaisuuksia; tätä toimintaa tulisi jatkaa ja mahdollisuuksien mukaan laajentaa. Akateemisen "perustutkimuksen" ja kaupallistamiseen tähtäävän "soveltavan tutkimuksen" luonne ja kannustimet ovat selkeästi erilaiset, vaikka biotekniikka-alan perustutkimus näyttää olevan monelta osin käyttötarkoituslähtöistä. Akateemisen tutkimuksen pääkannustimena ovat tieteelliset oivallukset ja tieteellinen julkaisutoiminta, ja käytännön sovellukset voivat olla hyvinkin kaukana tulevaisuudessa. Yhteiskuntamme haasteeksi muodostuu määrätietoisen ja fokusoidun kaupallistamiseen tähtäävän innovaatiotoiminnan tukeminen ja samanaikainen

When food prices spike in countries with large numbers of poor people, hunger and malnutrition are very likely to result in the absence of public intervention. For governments, this is also a case of political survival. Government actions often take the form of direct interventions in the market to stabilize food prices, which goes against most international advice to rely on safety nets and world trade. Despite the limitations of food price stabilization policies, they are widespread in developing countries. This paper attempts to untangle the elements of this policy conundrum. Price stabilization policies arise as a result of international and domestic coordination problems. At the individual country level, it is in the national interest of many countries to adjust trade policies to take advantage of the world market in order to achieve domestic price stability. When countercyclical trade policies become widespread, the result is a thinner and less reliable world market, which further decreases the appeal of laissez-faire. A similar vicious circle operates in the domestic market: without effective policies to protect the poor, such as safety nets, food market liberalization lacks credibility and makes private actors reluctant to intervene, which in turn forces government to step in. The current policy challenge lies in designing policies that will build trust in world markets and increase trust between public and private agents. ; Lorsque les prix alimentaires flambent dans des pays avec un grand nombre de personnes pauvres, en l'absence d'intervention publique la faim et la malnutrition sont très probables. Pour les gouvernements, intervenir est aussi une question de survie politique. Les interventions publiques prennent souvent la forme d'interventions sur le marché pour stabiliser les prix, ce qui va à l'encontre de la plupart des recommandations internationales, qui sont plutôt d'utiliser des filets de sécurité sociaux et de laisser le marché fonctionner librement. Cependant, malgré les limites des politiques de stabilisation des prix alimentaires, elles sont très répandues dans les pays en développement. Ce chapitre s'attache à éclairer cet état de fait. Les politiques de stabilisation des prix émergent comme le résultat de problèmes internationaux et domestiques de coordination. Il est dans l'intérêt de nombreux pays d'ajuster leurs politiques commerciales pour utiliser le marché mondial à des fins de stabilisation domestique. Mais, lorsque ces politiques commerciales se généralisent, le résultat est un marché mondial plus étroit et moins fiable, ce qui diminue d'autant l'attrait du libre-échange. Un cercle vicieux similaire opère sur le marché domestique. En l'absence de politiques à même de protéger les pauvres efficacement, comme des filets de sécurité sociaux, la libéralisation des marchés alimentaires manque de crédibilité, ce qui rend les acteurs privés réticents à s'investir, poussant les gouvernements à intervenir. L'enjeu politique actuel est donc de proposer des politiques qui permettent d'améliorer les confiances dans les marchés mondiaux et entre les acteurs privés et publics.

The paper focuses on the factors that determined how the relative domestic prices of cassava and soybeans changed during 1970-92, making an assessment of separate contributions of government interventions and exogenous factors. It explores what actually happened, not what might have happened under a different set of government policies. (DÜI-Sen)

Since 1979, the PRC has made it a definite policy to "open" the domestic economy toward the outside world. The article scrutinizes trade behaviour and links between international and domestic prices in China. In order to have a comparative understanding of China's foreign trade it refers to the Japanese economy wherever appropriate. China's development during 1960-86 is compared with that of Japan during 1950-1976

This study empirically examines the relation between the domestic fuel prices with the ten disaggregated economic sectors in Malaysia with the spanning of data from 1990:Q1 to 2007:Q4. We found that only three sectors (agriculture, trade and other services sectors) are cointegrated with the fuel price and fuel price does Granger cause these sectors. Despite the evidence of non-cointegrated in most of the economic sectors, fuel price able to influence these sectors over a longer period. Policy recommendation from this study includes the utilization of the renewable energy (RE) as a strategic plan is the long-term solution due to the high dependency and increasing demand of energy. While energy prices have experienced some correction in response to signs of slower global growth, sufficient government enforcement and support need to be established to facilitate successful renewable energy implementation in Malaysia.