The Benefits of Price Convergence PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Benefits of Price Convergence PDF full book. Access full book title The Benefits of Price Convergence by Gary Clyde Hufbauer. Download full books in PDF and EPUB format.
Author: Gary Clyde Hufbauer
Publisher: Peterson Institute
ISBN: 9780881323337
Category : Business & Economics
Languages : en
Pages : 132
Get Book Here
Book Description
Price divergence is readily apparent to anyone who shops. Travelers from Manchester to London, or from Chicago to Paris, are hit by sticker shock. Products ranging from London Fog raincoats to Viagra are available over the Internet at half their retail store prices. Common experience tells us that prices for identical products differ between countries, between cities, even between neighboring shops. On the other hand, common experience also tells us that open markets and greater competition will force a degree of price convergence, if not identical prices. This monograph presents speculative calculations that illustrate potential benefits from price convergence between countries. The authors take a fresh look at global economic integration by examining existing price divergence, and possible price convergence, across a range of consumer goods and then calculate the potential benefits of price convergence on a country-by-country basis and for the world as a whole. This study examines the potential benefits from price convergence resulting from more competition and market integration, not perfect competition and market integration. The authors calculate these benefits assuming that the world economy can attain the same degree of competition and market integration-and hence price convergence-as exists within the United States.
Author: Gary Clyde Hufbauer
Publisher: Peterson Institute
ISBN: 9780881323337
Category : Business & Economics
Languages : en
Pages : 132
Get Book Here
Book Description
Price divergence is readily apparent to anyone who shops. Travelers from Manchester to London, or from Chicago to Paris, are hit by sticker shock. Products ranging from London Fog raincoats to Viagra are available over the Internet at half their retail store prices. Common experience tells us that prices for identical products differ between countries, between cities, even between neighboring shops. On the other hand, common experience also tells us that open markets and greater competition will force a degree of price convergence, if not identical prices. This monograph presents speculative calculations that illustrate potential benefits from price convergence between countries. The authors take a fresh look at global economic integration by examining existing price divergence, and possible price convergence, across a range of consumer goods and then calculate the potential benefits of price convergence on a country-by-country basis and for the world as a whole. This study examines the potential benefits from price convergence resulting from more competition and market integration, not perfect competition and market integration. The authors calculate these benefits assuming that the world economy can attain the same degree of competition and market integration-and hence price convergence-as exists within the United States.
Author: Katalin Judit Cseres
Publisher: Kluwer Law International B.V.
ISBN: 9041123806
Category : Law
Languages : en
Pages : 466
Get Book Here
Book Description
The assumption that competition law and consumer protection are mutually reinforcing is rarely challenged. The theory seems uncontroversial. However, because a positive interaction between the two is presumed to be self-evident, the frequent conflicts that do in fact arise are often dealt with on an ad hoc basis, with no overarching legal authority. There is a clear need for a detailed and coherent understanding of exactly where the complements and tensions between the two policy areas exist. Dr Cseres in-depth analysis provides that understanding. Proceeding from the dual perspective of law and economics that is, of justice, fairness, and reasonableness on the one hand, and of efficiency of the other she fully considers such underlying issues as the following: the role of competition law and consumer law in a free market economy;the notion of consumer welfare;the effect of the modernisation of EC competition law for consumers;economics theories of information, bounded rationality, and transaction costs;the special significance of vertical agreements and merger control; and,how consumers are affected by information asymmetries. The ultimate focus of the book is on current and emerging EC law, in which a rapprochement between the two areas seems to be under way. Dr. Cseres provides a knowledgeable guide to the various strands of theory, policy, and jurisprudence that (she shows) ought to be taken into account in the process, including schools of thought and law and policy experience in both Europe and the United States. A special chapter on Hungary, where post-1989 law and practice reveal a fresh and distinctly forward-looking understanding of the matter, is one of the book's most extraordinary features. Competition Law and Consumer Protection stands alone as a committed contribution to bridging a gap in legal knowledge the significance of which grows daily. It will be of immeasurable value to a wide range of professionals from academics and researchers to officials, policymakers, and practitioners in competition law, consumer protection advocacy, economic theory and planning, business administration, and various pertinent government authorities.
Author: T. J. Hatton
Publisher: MIT Press
ISBN: 0262083612
Category : Economic history
Languages : en
Pages : 431
Get Book Here
Book Description
Essays by internationally prominent economists examine long run cross-country economic trends from the perspective of New Comparative Economic History, an approach pioneered by Harvard economist Jeffrey G. Williamson. The innovative approach to economic history known as the New Comparative Economic History represents a distinct change in the way that many economic historians view their role, do their work, and interact with the broader economics profession. The New Comparative Economic History reflects a belief that economic processes can best be understood by systematically comparing experiences across time, regions, and, above all, countries. It is motivated by current questions that are not nation specific--the sources of economic growth, the importance of institutions, and the impact of globalization--and focuses on long-run trends rather than short-run ups and downs in economic activity. The essays in this volume offer a New Economic Comparative History perspective on a range of topics and are written in honor of Jeffrey G. Williamson, the most distinguished and influential scholar in the field. The contributors, prominent American and European economists, consider such topics as migration, education, and wage convergence; democracy and protectionism in the nineteenth century; trade and immigration policies in labor-scarce economies; and the effect of institutions on European productivity and jobs.
Author: Edward P.M. Gardener
Publisher: Springer
ISBN: 0230599990
Category : Business & Economics
Languages : en
Pages : 353
Get Book Here
Book Description
The completion of the European Single Market Programme (SMP) and the launch of 'Euroland' are bold statements on the European Union and its future. Within this economic process, the particular importance of the banking and financial services sectors is widely emphasized. This collection explores the strategic impact of the Single Market Programme and European Monetary Union on European banks and banking systems. The contributors examine eleven banking systems: Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Netherlands, Portugal, Spain and the United Kingdom. Thoroughly up-to-date and with a common thematic overview of major trends in European banking systems, this book covers key strategic developments, structural changes, performance trends and strategies.
Author: Claude Diebolt
Publisher: Springer Nature
ISBN: 3031355830
Category :
Languages : en
Pages : 2796
Get Book Here
Book Description
Author: Richard Baldwin
Publisher: Harvard University Press
ISBN: 067466048X
Category : Business & Economics
Languages : en
Pages : 340
Get Book Here
Book Description
An Economist Best Book of the Year A Financial Times Best Economics Book of the Year A Fast Company “7 Books Microsoft CEO Satya Nadella Says You Need to Lead Smarter” Between 1820 and 1990, the share of world income going to today’s wealthy nations soared from twenty percent to almost seventy. Since then, that share has plummeted to where it was in 1900. As the renowned economist Richard Baldwin reveals, this reversal of fortune reflects a new age of globalization that is drastically different from the old. The nature of globalization has changed, but our thinking about it has not. Baldwin argues that the New Globalization is driven by knowledge crossing borders, not just goods. That is why its impact is more sudden, more individual, more unpredictable, and more uncontrollable than before—which presents developed nations with unprecedented challenges as they struggle to maintain reliable growth and social cohesion. It is the driving force behind what Baldwin calls “The Great Convergence,” as Asian economies catch up with the West. “In this brilliant book, Baldwin has succeeded in saying something both new and true about globalization.” —Martin Wolf, Financial Times “A very powerful description of the newest phase of globalization.” —Larry Summers, former U.S. Secretary of the Treasury “An essential book for understanding how modern trade works via global supply chains. An antidote to the protectionist nonsense being peddled by some politicians today.” —The Economist “[An] indispensable guide to understanding how globalization has got us here and where it is likely to take us next.” —Alan Beattie, Financial Times
Author: Scott Bradford
Publisher: Columbia University Press
ISBN: 0881324531
Category : Business & Economics
Languages : en
Pages : 102
Get Book Here
Book Description
Scott C. Bradford and Robert Z. Lawrence use the underlying data from purchasing power parity surveys to estimate the potential benefits from fully integrating goods markets among major OECD countries. These data are particularly useful because they are comprehensive, and every effort has been made to ensure that they are comparable. Input-output tables are used to eliminate distribution margins from final goods prices and thereby provide estimates of ex-factory prices. Price differentials have been taken as measures of barriers, and the welfare effects of eliminating these barriers have been estimated in a general equilibrium model. The study also provides insights into the relative openness of individual OECD countries to the world economy and the degree to which Europe has become a single market.
Author: Gary Clyde Hufbauer
Publisher: Columbia University Press
ISBN: 088132681X
Category : Political Science
Languages : en
Pages : 258
Get Book Here
Book Description
In the wake of the Great Recession of 2008–09, economists feared that protectionist policies might sweep the world economy, echoing the wave of tariff escalations during the Great Depression of the 1930s. To some surprise, officials were more restrained and largely avoided traditional forms of protection (tariffs and quotas). As a result, economists underestimated the incidence of new protectionism because policymakers increasingly turned to more opaque behind-the-border nontariff barriers (NTBs). Using a combination of statistical analysis and case studies, the authors show that local content requirements (LCRs), a form of NTB, have become increasingly popular. How much was global trade actually reduced on account of LCRs? A conservative estimate might be $93 billion. Case studies featured cover the healthcare sector in Brazil, wind turbines in Canada, the automobile industry in China, solar cells and modules in India, oil and gas in Nigeria, and "Buy American" restrictions on government procurement.
Author: Anthony Owen
Publisher: Routledge
ISBN: 0429755252
Category : Social Science
Languages : en
Pages : 113
Get Book Here
Book Description
Providing an analysis of multilateral power markets, this book examines power interconnection in Southeast Asia, especially among the ASEAN countries. It uses evolutionary experience of electricity interconnection and trade in three international markets that have relevance for ASEAN to draw upon common global themes. Specifically, it compares the Southern African Power Pool, the European grid, and Nord Pool. Discussing the progress made among ASEAN countries in regional energy integration, with a particular focus on the Greater Mekong Sub-region interconnection, it also examines the recently announced interconnection concept between Lao People’s Democratic Republic, Thailand, Malaysia, and Singapore. Exploring the challenges facing ASEAN interconnection of power grids in the context of previous experience elsewhere in the world, this book presents a template for appropriate best practice in terms of technical, political, and financial requirements. It will therefore be of value to decision makers interested in the political economy of energy in Southeast Asia, as well as academics working on Energy Politics and Southeast Asian Politics.
Author: Angelo Santagostino
Publisher: Cambridge Scholars Publishing
ISBN: 1527558126
Category : Political Science
Languages : en
Pages : 336
Get Book Here
Book Description
Growth is slow in the EU, but growth potentialities remain high, in spite of the exit of the UK and in spite of the COVID-19 pandemic, and we can observe a disparity between reality and potentialities. Does the persistent difference between expected and real benefits mean that the EU integration model is not working? No. It continues to be effective, because it is rule-based. However, these rules are not enough to grasp all the potentialities of integration. We need a better-integrated single European market and a more open trade policy, in the framework of health, security, safety, energy, environment and labour standards, establishing the rules of the competition, but leaving the economic agents free to act. The book explores Brexit, capital markets, energy, health and bilateral trade policies with the main European partners, in the light of their effects and contribution to European growth. It emerges that this huge trade block is vital but must find the political capacity to move towards a closer integration, to close the gap between reality and potentiality. The text will appeal to a public interested in the economic problems of the EU, and will be of interest to policy makers and all those who are involved in the process, from proposals to decisions, of making a more integrated Europe.
