The impact of trade preferences on multilateral tariff cuts: evidence for Japan

Opposing theoretical predictions about the effects of trade preferences on multilateral tariff cuts point to the need for empirical analysis to determine whether preferential trade agreements promote or hinder multilateral trade liberalization. This paper examines the impact of Japan’s trade preferences on its multi-lateral tariff reductions. Using detailed product level data, we find that Japan’s Generalized System of Preferences (GSP) acted as a stumbling block for the country’s external tariff liberalization during the Uruguay Round of multi-lateral trade negotiations

International Price Dispersion and Market Segmentation in Japan and the United States: Theory and Empirics

This paper focuses on the pricing behavior of Japanese and United States firms selling their identical products in New York City, Chicago, Osaka, and Tokyo. The authors utilize some simple models of international price dispersion and market segmentation that generate predictions about testable prices. The dataset, which consists of prices of identical products in the Japanese and American cities, was collected and accepted by both governments. Using this data, versions of international price dispersion theories are tested and some empirical evidence to support the view that simple international price dispersion models can partly explain the observed prices is found

A test of the law of comparative advantage, revisited

Law of comparative advantage, Trade imbalances, F1,

Global Flood Models

Flooding is the most damaging natural hazard, both economically and by population affected. Flood models are important tools for evaluating the risks associated with flooding. Historically, the modeling domain has been limited in scale; however, advancements in computing power and global data sets have led to the development of global flood models (GFMs). This global modeling capability has benefited scientific studies of exposure and climate change impact, the insurance industry, and intergovernmental disaster risk reduction efforts. Global flood modeling has now progressed beyond its infancy to a point where coordinated and targeted model development can take place based on collective studies. This chapter provides a detailed summary of the current global flood modeling state-of-affairs. It begins with a summary of the history and challenges of GFM development. This is followed by a review of current GFMs and their structures, applications, and credibility. A section is also dedicated to describing global flood modeling in the context of the insurance catastrophe model, an important GFM category that is less visible due to their proprietary nature. The chapter concludes by looking to the future and highlighting how GFMs need to improve and the new data sets and methods that could contribute to their continued development