Number of results to display per page
Search Results
2072. Chinese and Indian Engineers and their Networks in Silicon Valley
- Author:
- Rafiq Dossani
- Publication Date:
- 03-2002
- Content Type:
- Working Paper
- Institution:
- Walter H. Shorenstein Asia-Pacific Research Center
- Abstract:
- In recent years, Asian immigrants have played an important role in Silicon Valley's growth, as suppliers of both engineering and entrepreneurial talent. Given their relatively large numbers, the Indian and Chinese communities' contributions have been particularly noted. The Indians' presence became more marked toward the last few years of the century, bolstered by arrivals working on the Year 2000 (Y2K) problem. The Chinese, by contrast, had older roots set down amid long-standing political, economic, and educational links with Taiwan. Both communities have formed extensive ethnic professional networks, with large memberships and well-attended, regular "networking" events, such as monthly meetings and special interest group sessions. The popularity of these events suggests that members find them valuable. While some of the value is probably noneconomic, the avowedly economic mission (see below) and long-term popularity of these gatherings means that most members primarily derive economic benefits. These networks and their members are the subject of this paper. The author acknowledges the collaboration of Professor AnnaLee Saxenian of the University of California, Berkeley, in the design of and data collection for the survey which forms part of this paper. The survey was partially funded by the Public Policy Institute of California.
- Topic:
- International Trade and Finance and Science and Technology
- Political Geography:
- United States, India, Taiwan, Asia, California, and Berkeley
2073. Free Trade and Environmental Protection
- Author:
- Daniel C. Esty
- Publication Date:
- 06-2002
- Content Type:
- Working Paper
- Institution:
- Aspen Institute
- Abstract:
- From the protests in the streets of Seattle during the World Trade Organization's 1999 Ministerial Meeting to the chaos surrounding the 2001 G-8 Summit Meeting in Genoa, the backlash against globalization is increasingly evident. One dimension of this backlash centers on environmental concerns. While economic integration and trade liberalization offer the promise of growth and prosperity, environmental advocates fear that freer trade will lead to increased pollution and resource depletion. At the same time, free traders worry that over- reaching environmental policies will obstruct efforts to open markets and integrate economies around the world. They often see environmentalists as blindly anti-free-trade and protectionist. “Trade and environment” tensions have therefore emerged as a major issue in the debate over globalization. This paper explores the contours of these tensions and argues that trade policy and environmental programs can be better integrated and made more mutually supportive.
- Topic:
- Development, Environment, International Trade and Finance, and Science and Technology
2074. Building a Transatlantic Securities Market
- Author:
- Benn Steil
- Publication Date:
- 12-2002
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- This report aims to jump-start the integration of the US and EU securities markets through a mutual recognition agreement on transatlantic exchange access. Under this agreement, securities exchanges on each side of the Atlantic would be permitted to provide direct electronic access to brokers and institutional investors on the other side, for the purpose of trading listed equities and derivatives based on equities. We argue that this initiative will reduce trading costs, increase investment returns, lower the cost of capital, and increase economic growth on both sides of the Atlantic. The success of such an initiative will, over time, encourage its expansion to cover all forms of debt securities, primary issues, and other national markets.
- Topic:
- International Trade and Finance
- Political Geography:
- United States and Europe
2075. Terrorist Financing
- Author:
- Maurice R. Greenberg, Lee S. Wolosky, and William F. Wechsler
- Publication Date:
- 10-2002
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- Unlike other terrorist leaders, Osama bin Laden is not a military hero, a religious authority, or an obvious representative of the downtrodden and disillusioned. He is a rich financier. He built al- Qaeda's financial network from the foundation of a system originally designed to channel resources to the mujahideen fighting the Soviets.
- Topic:
- Security, Globalization, International Trade and Finance, and Terrorism
- Political Geography:
- Soviet Union
2076. How Shareholder Reforms Can Pay Foreign Policy Dividends
- Author:
- James J. Shinn and Peter Gourevitch
- Publication Date:
- 06-2002
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- Corporate governance—the rules that govern the relationship between managers and shareholders—belongs on the foreign policy agenda of American decision-makers. The vigorous debates underway about corporate governance, both at home and abroad, present an opportunity for the United States to advance its foreign policy goals of enhancing free trade and financial stability.
- Topic:
- Foreign Policy, Economics, Government, Industrial Policy, and International Trade and Finance
- Political Geography:
- United States
2077. Renewing Energy Security
- Author:
- John V. Mitchell
- Publication Date:
- 07-2002
- Content Type:
- Working Paper
- Institution:
- Chatham House
- Abstract:
- Energy security has risen on the policy agendas of many countries as a result of: reaction to the oil price surge of 2000; commitments to restrict greenhouse gas emissions following the Marrakesh Agreement; uncertainty about stability of supplies to final consumers following the California shortages and European fuel price protests of 2000; the 'war against terrorism' following 11 September, and the growing Israeli-Palestinian conflict. This paper reviews the broad policy context within which energy security is placed, the outlook for energy supply and its key uncertainties, the security risks involved at the national and consumer level, and the scope for 'dialogues' between producers and consumers. The broad conclusions of the paper are that: international trade and investment provides the best route to national energy security for most countries; the benefits of international energy trade and investment can be compatible with policies to protect the environment and reduce greenhouse gas emissions, although such policies do not necessarily reinforce energy security; within countries the security of distribution of energy to final consumers requires policy support, whether or not the primary sources of energy are imported or domestic; the international framework for energy trade and investment will work best if the interests of countries dependent on energy exports are taken into account.
- Topic:
- Energy Policy, International Trade and Finance, Markets, Oil, and Terrorism
2078. Sticky Prices, No Menu Costs
- Author:
- David Bowman
- Publication Date:
- 12-2002
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- A model that contains no costs to changing prices but in which prices do not respond to nominal shocks is presented. In models that do not feature superneutrality of money flexible price equilibria will allow certain types of monetary shocks to affect the real economy. Sticky price behavior may in fact be better at protecting the real economy from the effects of monetary shocks in such environments. This point is demonstrated in a standard monetary model with liquidity effects. An equilibrium in which sticky prices are supported without menu costs is then constructed. In equilibrium firms choose to keep prices fixed in response to nominal shocks because doing so provides a service to their customers, increasing profits by expanding the customer base.
- Topic:
- Economics, Emerging Markets, and International Trade and Finance
- Political Geography:
- United States
2079. Inflation Persistence and Optimal Monetary Policy in the Euro Area
- Author:
- Pierpaolo Benigno and J. David Lopez-Salido
- Publication Date:
- 12-2002
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- In this paper we first present supporting evidence of the existence of heterogeneity in inflation dynamics across euro area countries. Based on the estimation of New Phillips Curves for five major countries of the euro area, we find that there is significant inertial (backward looking) behavior in inflation in four of them, while inflation in Germany has a dominant forward looking component. In the second part of the paper we present an optimizing agent model for the euro area emphasizing the heterogeneity in inflation persistence across regions. Allowing for such a backward looking component will affect the evaluation of the degree of nominal rigidities relevant for the monetary policy design. We explore the welfare implications of this circumstance by comparing the adjustment of the economies and the area as a whole in response to terms-of-trade shocks under four monetary policy rules: fully optimal, optimal inflation targeting, HICP targeting and output gap stabilization.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- Europe
2080. International Monetary Policy Coordination and Financial Market Integration
- Author:
- Alan Sutherland
- Publication Date:
- 12-2002
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- The welfare gains from international coordination of monetary policy are analysed in a two-country model with sticky prices. The gains from coordination are compared under two alternative structures for financial markets: financial autarky and risk sharing. The welfare gains from coordination are found to be largest when there is risk sharing and the elasticity of substitution between home and foreign goods is greater than unity. When there is no risk sharing the gains to coordination are almost zero. It is also shown that the welfare gain from risk sharing can be negative when monetary policy is uncoordinated.
- Topic:
- Economics, Human Welfare, and International Trade and Finance
- Political Geography:
- United States