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| Gaitan, Beatriz; Pavel, Ferdinand. |
| We present a general equilibrium model with oligopsonistic market structure in one of the sectors. Buyers of inputs can set the price of inputs by being involved in rent seeking activities. The framework developed is applied to the Bulgarian economy in particular to the agro-food chain. From the application to the Bulgarian economy we find that if there are market imperfections, such as oligopsonistic behavior in the economy, there are no significant welfare gains from free trade. Significant welfare gains from trade are observed only when a competitive structure prevails. We show that eliminating this market imperfection can bring important welfare implications and an efficient reallocation of resources. |
| Tipo: Working or Discussion Paper |
Palavras-chave: International Relations/Trade. |
| Ano: 2000 |
URL: http://purl.umn.edu/12970 |
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| Gaitan, Beatriz; Roe, Terry L.. |
| The closed economy neoclassical growth model predicts convergence to a capital stock level that is independent of its initial level, suggesting that discrepancies in per capita income among the world’s economies should largely disappear in the long-run. This paper shows that international trade among countries differing only in their level of initial capital is sufficient to generate long-run income differences across countries. The long-run level of capital of the country most initially endowed with capital is shown to exceed the level of capital otherwise obtained in autarchy while the country least endowed converges to a capital stock lower than would otherwise be obtained in autarchy. |
| Tipo: Report |
Palavras-chave: International trade; Development; Multiple Equilibria; International Relations/Trade; O41; F43; F11. |
| Ano: 2007 |
URL: http://purl.umn.edu/7183 |
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| Gaitan, Beatriz; Tol, Richard S.J.; Yetkiner, I. Hakan. |
| The validity of the Hotelling's rule, the fundamental theorem of nonrenewable resource economics, is limited by its partial equilibrium nature. One symptom of this limitation may be the disagreement between the empirical evidence, showing stable or declining resource prices, and the rule, predicting exponentially increasing prices. In this paper, we study the optimal depletion of a nonrenewable resource in a dynamic general equilibrium framework. We show that in, the long run, the price of a nonrenewable (i) is constant when the nonrenewable is essential in production, and (ii) it increases only if the rate of return of capital is larger than the capital depreciation rate and if the non-renewable is an inessential input in production. We believe that our... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/20207 |
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| Roe, Terry L.; Gaitan, Beatriz. |
| We investigate the dynamics of nonrenewable resource abundance on economic growth and welfare in a two-country world. One country is endowed with a nonrenewable-resource, otherwise, countries are identical, except possibly for their initial endowments of capital. Unlike previous studies analyzing small open economies, we show that once interactions between resource-rich and resource-less economies are considered the effect of the nonrenewable resource on the resource rich economy's performance can be positive. We derive the necessary condition for the nonrenewable resource to have a positive (negative) effect on the growth rate of the resource-rich economy. The endowment of the nonrenewable resource has a positive effect on the growth rate of the... |
| Tipo: Working or Discussion Paper |
Palavras-chave: International Development; Resource /Energy Economics and Policy. |
| Ano: 2005 |
URL: http://purl.umn.edu/12979 |
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