Is generalized debt relief an effective development strategy, or should assistance be tailored to countries' characteristics? To answer this question, the authors build a simple model in which recipient governments reveal their creditworthiness if donors offer them to choose between aid and debt...

The welfare effect of an intra-industry trade liberalization between two different countries is studied in this paper. Firms are firstly assumed to behave à la Cournot, results are then generalized in a conjectural variation model. If trade liberalization increases "world"welfare, it is...

Strategic trade policy affects foreign-based furn's internationalization mode. In this paper, we endogenize market structure and tariff policy by considering a sequential game in which (i) a policy-maker maximizes national welfare, (ii) aforeign-based furn decides whether to supply the...

In a simple dynamic general equilibrium model, we introduce the concept of an intertemporal Cournot equilibrium. We show that if the number of strategic agents increases without limit, the intertemporal Cournot equilibrium converges to the intertemporal Walras equilibrium only when the tune...

The standard macro(prudential) models focus on externalities and treat all prudential instruments as alternative, but equivalent, forms of Pigouvian taxes. This paper explicitly models individual banks'risk choices and shows that different prudential instruments affect banks'risk-taking...