This paper studies non-cooperative commodity taxation in a trade model with im-perfect competition and trade costs …. Nationally optimal tax policy simultaneously tries to correct the domestic distortion from imperfect competition and to shift …

This paper examines the optimal production, export allocation and hedging decisions of a risk-averse international firm … each currency. Then, both production and export allocation are separable. Hedging with forward contracts depends on risk … premia and the joint distribution of the exchange rates. If tradable exchange rate risk is a linear function of untradable …

This paper analyzes optimal hedging of a tradable risk (e.g. price risk or exchange rate risk) with forward contracts … in the presence of untradable inflation risk. Utility is defined over real wealth. Optimal forward positions are derived … relative to a given initial exposure in the tradable risk. A nominally unbiased forward market usually implies a non-zero real …

the problem is described by an BSDE. For a totally unhedgeable price for instan- taneous risk, isoelastic utility of … terminal wealth can be maximized using a portfolio consisting of the locally risk-free bond and a lo- cally efficient fund only …

This paper examines the production, export and risk management decisions of a risk-averse competitive firm under … exchange rate risk. The firm is export flexible in allocating its output to either the domestic market or a foreign market …