Trade and Imperfect Competition in General Equilibrium

This paper employs a general equilibrium model of imperfect competition and trade in which capital is used to establish firms and labor is used for production. We show that two different types of equilibria may exist, one with factor price equalization and one with different factor prices. When factor prices are equalized, trade improves welfare under relatively mild conditions. However, if factor prices differ, these conditions are not sufficient for mutual gains from trade.imperfect competition, international trade, general equilibrium

Foreign direct investment and environmental taxes

This paper studies the effect of foreign direct investment (FDI) on environmental policy stringency in a two-country model with trade costs, where FDI could be unilateral and bilateral and both governments address local pollution through environmental taxes. We show that FDI does not give rise to ecological dumping because the host country has an incentive to shift rents away from the source country towards the host country. Environmental policy strategies and welfare effects are studied under the assumption that parameter values support FDI to be profitable. JEL Classification: F12, F18, F23environmental taxes, Foreign Direct Investment, multinational enterprises, plant location

Trade and Imperfect Competition in General Equilibrium

This paper employs a general equilibrium model of imperfect competition and trade in which capital is used to establish firms and labor is used for production. We show that two different types of equilibria may exist, one with factor price equalization and one with different factor prices. When factor prices are equalized, trade improves welfare under relatively mild conditions. However, if factor prices differ, these conditions are not sufficient for mutual gains from trade

Foreign Direct Investment and Environmental Taxes

This paper discusses environmental policies in response to foreign direct investment (FDI) in a symmetrie two-country setting, where firms' behavior affects government policy decisions. We show that two alternative equilibria with FDI are possible: (i) one with unilateral FDI, where one firm is a multinational firm, and the other firm is a national firm; (ii) and one with bilateral FDI, where both firms become multinational firms. With regard to strategic environmental policies, we show that the country attracting FDI introduces a Pigouvian environmental tax, whereas the country served by the local firm only levies a smaller tax rate. Hence, FDI does not lead to ecological dumping. With regard to welfare, we show that the impact on welfare is negative for the country hosting the national firm; positive for the country hosting the multinational firm, if FDI is unilateral; and ambiguous, for both countries, if FDI is bilateral

Endogenous market structure and the gains from foreign direct investment

This paper discusses the gains from foreign direct investment (FDI) in a two country setting with endogenous markets structures under two alternative locations for the oligopolistic industry. If the oligopolistic industry is located in the domestic country only, we show that market concentration occurs if national and multinational firms coexist. In this case, FDI is welfare improving for the foreign country, but welfare declining for the domestic country. If only multinational firms are competitive, the impact on market structure and the welfare of the domestic country is indeterminate, whereas the welfare of the foreign country improves. By contrast, if the oligopolistic industry is located in both countries, then FDI compared to intraindustry trade leads to mutual welfare gains

The Scope of Auctions in the Presence of Downstream Interactions and Information Externalities

We scrutinize the scope of auctions in the presence of downstream interactions and information externalities by using the topical example of a firm acquisition. We show that no mechanism exists that allows an investor to acquire a low-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency is required as to qualify for a sequential equilibrium

O₂ reduction at a DMSO/Cu(111) model battery interface

In order to develop a better understanding of electrochemical $\mathrm{O_2}$reduction in non-aqueous solvents, we apply two-photon photoelectronspectroscopy to probe the dynamics of $\mathrm{O_2}$ reduction at aDMSO/Cu(111) model battery interface. By analyzing the temporal evolution ofthe photoemission signal, we observe the formation of $\mathrm{O_2^-}$ from atrapped electron state at the DMSO/vacuum interface. We find the verticalbinding energy of $\mathrm{O_2^-}$ to be 3.80 $\pm$ 0.05 eV, in good agreementwith previous results from electrochemical measurements, but with improvedaccuracy, potentially serving as a basis for future calculations on thekinetics of electron transfer at electrode interfaces. Modelling the$\mathrm{O_2}$ diffusion through the DMSO layer enables us to quantify theactivation energy of diffusion (31 $\pm$ 6 meV), the diffusion constant (1$\pm$ 1$\cdot 10^{-8}$ cm$^2$/s), and the reaction quenching distance forelectron transfer to $\mathrm{O_2}$ in DMSO (12.4 $\pm$ 0.4 \unicode{x212B}),a critical value for evaluating possible mechanisms for electrochemical sidereactions. These results ultimately will inform the development andoptimization of metal-air batteries in non-aqueous solvents.<br

Theory of dark resonances for alkali vapors in a buffer-gas cell

We develop an analytical theory of dark resonances that accounts for the full atomic-level structure, as well as all field-induced effects such as coherence preparation, optical pumping, ac Stark shifts, and power broadening. The analysis uses a model based on relaxation constants that assumes the total collisional depolarization of the excited state. A good qualitative agreement with experiments for Cs in Ne is obtained.Comment: 16 pages; 7 figures; revtex4. Accepted for publication in PR

Uncovering the (un-)occupied electronic structure of a buried hybrid interface

The energy level alignment at organic/inorganic (o/i) semiconductor interfaces is crucial for any light-emitting or -harvesting functionality. Essential is the access to both occupied and unoccupied electronic states directly at the interface, which is often deeply buried underneath thick organic films and challenging to characterize. We use several complementary experimental techniques to determine the electronic structure of p-quinquephenyl pyridine (5P-Py) adsorbed on ZnO(10-10). The parent anchoring group, pyridine, significantly lowers the work function by up to 2.9 eV and causes an occupied in-gap state (IGS) directly below the Fermi level $E_\text{F}$. Adsorption of upright-standing 5P-Py also leads to a strong work function reduction of up to 2.1 eV and to a similar IGS. The latter is then used as an initial state for the transient population of three normally unoccupied molecular levels through optical excitation and, due to its localization right at the o/i interface, provides interfacial sensitivity, even for thick 5P-Py films. We observe two final states above the vacuum level and one bound state at around 2 eV above $E_\text{F}$, which we attribute to the 5P-Py LUMO. By the separate study of anchoring group and organic dye combined with the exploitation of the occupied IGS for selective interfacial photoexcitation this work provides a new pathway for characterizing the electronic structure at buried o/i interfaces

AxiSEM: broadband 3-D seismic wavefields in axisymmetric media

We present a methodology to compute 3-D global seismic wavefields for realistic earthquake sources in visco-elastic anisotropic media, covering applications across the observable seismic frequency band with moderate computational resources. This is accommodated by mandating axisymmetric background models that allow for a multipole expansion such that only a 2-D computational domain is needed, whereas the azimuthal third dimension is computed analytically on the fly. This dimensional collapse opens doors for storing space–time wavefields on disk that can be used to compute Fréchet sensitivity kernels for waveform tomography. We use the corresponding publicly available AxiSEM (<a href="www.axisem.info"target="_blank">www.axisem.info</a>) open-source spectral-element code, demonstrate its excellent scalability on supercomputers, a diverse range of applications ranging from normal modes to small-scale lowermost mantle structures, tomographic models, and comparison with observed data, and discuss further avenues to pursue with this methodology