Number of results to display per page
Search Results
442. Drug Reimportation: The Free Market Solution
- Author:
- Roger Pilon
- Publication Date:
- 08-2004
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- As modern "miracle drugs" play a growing role in medical practice, drug prices in America soar far beyond prices in the rest of the world. Yet our law prohibits Americans from buying American-made drugs abroad at those prices and "reimporting" them to the United States. That has led many Americans, and even some state and local officials, to ignore the law and go to Canada and Mexico for their drugs; to the passage in the House last year of a bill lifting the ban on reimportation; and to similar bills now in the Senate—legislation that Health and Human Services Secretary Tommy Thompson recently called "inevitable."
- Topic:
- Human Welfare, International Trade and Finance, and Science and Technology
- Political Geography:
- United States, America, Canada, and Mexico
443. Education and Indoctrination in the Muslim World Is There a Problem? What Can We Do about It?
- Author:
- Andrew Coulson
- Publication Date:
- 03-2004
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- This paper describes the threat posed to U.S. national security by militant schools in lessdeveloped nations, evaluates current policies for dealing with that threat, and suggests an alternative set of policies that would likely be more effective and also more consistent with the laws and principles of the United States.
- Topic:
- Education, International Trade and Finance, and Religion
- Political Geography:
- United States and Arabia
444. The United States, China, and the Rise of Asian Regionalism
- Author:
- Claude E. Barfield
- Publication Date:
- 09-2004
- Content Type:
- Working Paper
- Institution:
- American Enterprise Institute for Public Policy Research
- Abstract:
- The goal of this paper is to analyze the evolution of trade relations between the United States and China, against the background of rising East Asian regionalism. It will also put forward policy options for the United States and China in response to the changing economic realities in East Asia.
- Topic:
- Foreign Policy and International Trade and Finance
- Political Geography:
- United States, China, Israel, and East Asia
445. European and American Approaches to Antitrust Remedies and the Institutional Design of Regulation in Telecommunications
- Author:
- J. Gregory Sidak and Damien Geradin
- Publication Date:
- 01-2004
- Content Type:
- Working Paper
- Institution:
- American Enterprise Institute for Public Policy Research
- Abstract:
- In the United States and the European Union, the topic of remedies in network industries cuts across antitrust law and sector-specific regulation, including telecommunications. The legal and economic understandings of a “remedy” are not always synonymous. In both legal systems, a remedy is the corrective measure that a court or an administrative agency orders following a finding that one or several companies had either engaged in an illegal abuse of market power (monopolization in the US and abuse of dominance in the EC) or are about to create market power (in the case of mergers). With the exception of merger control where remedies seek to prevent a situation from occurring, legal remedies are retrospective in their orientation. They seek to right some past wrong. They may do so through the payment of money (whether that is characterized as the payment of damages, fines, or something else). Or they may seek to do so through a mandated change in market structure (“structural” remedies), as in the case of divestiture, or in the imposition of affirmative or negative duties (“behavioral” remedies). United States v. Microsoft Corp (U.S. Court of Appeals for the D.C. Circuit, 2001). presented the tradeoff between these various remedial alternatives.
- Topic:
- Government and International Trade and Finance
- Political Geography:
- United States and Europe
446. Capital Plus: The Challenge of Development in Development Finance Institutions
- Publication Date:
- 03-2004
- Content Type:
- Working Paper
- Institution:
- Aspen Institute
- Abstract:
- Capital Plus is a position paper written by the members of the Development Finance Forum (the Forum), a group of practitioners that has met for a week each year since 1997. The Forum members use the term “development finance institutions” (DFIs) to refer to our diverse institutional forms, customer strategies, and products, which include microcredit, loans to small and medium sized businesses, and investments in housing projects and community facilities. The word “practitioner” is the key to our group. While donors, academics, and representatives of multilateral institutions play an important role in building and marketing the development finance field, they have often dominated the way debates and ideas are shaped. We asked ourselves: as practitioners, did we have, or could we develop, a common perspective? Could it shape the debate in a new way? What new ideas could we add?
- Topic:
- Economics, Government, and International Trade and Finance
- Political Geography:
- United States
447. Making Doha a Developmental Round: What do the Developing Countries Want?
- Author:
- William Krist
- Publication Date:
- 01-2004
- Content Type:
- Working Paper
- Institution:
- The Wilson Center
- Abstract:
- This report was prepared by William Krist, a Senior Policy Scholar at the Woodrow Wilson Center's Environmental Change and Security Project (ECSP). Mr. Krist is working on issues relating to trade and sustainable development. Before becoming a Woodrow Wilson scholar, Mr. Krist was senior vice president at the American Electronics Association, and prior to that, he had been Assistant Trade Representative for Industry in the Office of the U.S. Trade Representative. He has an MA in economics from George Washington University, and a BA from Swarthmore College.The Environmental Change and Security Project (ECSP) has been committed to exploration of the connections between environment, population and security since 1994. Through its meetings, its publications, its comprehensive Web site, and the original research carried out by its staff and scholars, ECSP serves as an information clearinghouse. ECSP is directed by Geoffrey D. Dabelko and is housed in the Wilson Center's Division of International Studies, headed by Robert S. Litwak.
- Topic:
- Agriculture, Development, Economics, International Trade and Finance, and Third World
- Political Geography:
- United States
448. On the Role of Distance for Outward Foreign Direct Investment
- Author:
- Peter Egger
- Publication Date:
- 06-2004
- Content Type:
- Working Paper
- Institution:
- Kellogg Institute for International Studies
- Abstract:
- This paper focuses on the estimation of three distance-related effects on outward foreign direct investment (FDI). (i) Distance harms vertical multinationals, since they engage in trade. (ii) It makes non-trading multinationals better off than exporters. (iii) This positive effect on horizontal FDI is expected to rise with bilateral country size due to the home market effect. The use of panel data and related econometric methods is highly recommended to avoid parameter bias from endogenous, unobserved, time-invariant effects. A unified estimation approach to assess all three hypotheses then has to rely on instrumental variable techniques for generalized leastsquares methods. In the empirical analysis of 1989–1999 bilateral US outward FDI stocks at the industry level, it is shown that testing and accounting for autocorrelation is extremely important for parameter inference. In sum, the paper lends strong support to the theory of horizontally organized multinationals as outlined in Markusen and Venables (2000).
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- United States
449. International Diversification at Home and Abroad
- Author:
- Fang Cai and Francis E. Warnock
- Publication Date:
- 12-2004
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- We analyze foreigners' and domestic institutional investors' positions in U.S. equities. Controlling for many factors, we uncover a common preference for large firms and firms that are diversified internationally. The domestic preference for internationally diversified firms implies that investors might obtain substantial international diversification by investing at home. Using an international factor model, we show that exposure to foreign equity markets is indeed greater for domestic firms that are more diversified internationally, suggesting that at least some of the home-grown foreign exposure translates into international diversification benefits. After accounting for home-grown foreign exposure, the share of 'foreign' equities in investors' portfolios nearly doubles, reducing (but not eliminating) the observed home bias.
- Topic:
- International Relations, Development, Economics, and International Trade and Finance
- Political Geography:
- United States
450. The High-Frequency Effects of U.S. Macroeconomic Data Releases on Prices and Trading Activity in the Global Interdealer Foreign Exchange Market
- Author:
- Jonathan H. Wright, Alain P. Chaboud, Edward Howorka, David Liu, Sergey Chernenko, and Raj S. Krishnasami Iyer
- Publication Date:
- 11-2004
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- We introduce a new high-frequency foreign exchange dataset from EBS (Electronic Broking Service) that includes trading volume in the global interdealer spot market, data not previously available to researchers. The data also gives live transactable quotes, rather than the indicative quotes that have been used in most previous high frequency foreign exchange analysis. We describe intraday volume and volatility patterns in euro-dollar and dollar-yen trading. We study the effects of scheduled U.S. macroeconomic data releases, first confirming the finding of recent literature that the conditional mean of the exchange rate responds very quickly to the unexpected component of data releases. We next study the effects of data releases on trading volumes. News releases cause volume to rise, and to remain elevated for a longer period. However, in contrast to the result for the level of the exchange rate, even if the data release is entirely in line with expectations, we find that there is still typically a large pickup in trading volume.
- Topic:
- Economics, Emerging Markets, and International Trade and Finance
- Political Geography:
- United States