Are the East Asian Currencies still Misaligned? An Analysis Based on Absolute PPP-Income Relationship using Panel Data

Over 10 years after the currency crisis, the degree of exchange rate misalignment is still an issue of contention for East Asian countries. This study evaluates the degrees of currency misalignment of Korea, China, Malaysia, Thailand, the Phillipines, and Indonesia by examining absolute purchasing power parity (PPP)-income relationships using panel data. The distinction between local currency misalignments and the US dollar misalignment is stressed. The estimated misalignments in 2007 were 22.4 per cent overvaluation for the Indonesian rupiah, 12.5 per cent overvaluation for the Philippine peso, and 15.6 per cent undervaluation for the Malaysian ringgit.currency, ppp-income, panel data

Tariffs and the Adoption of Clean Technology Under Asymmetric Information

This paper examines the effect of import tariffs on the decision of a foreign monopolist to adopt “clean” technology – technology that reduces the flow of a negative cross-border externality per unit of exports. The clean technology is assumed to increase the marginal cost of production relative to the dirty technology, but only the firm knows the extent of the increase. Under complete information, we show that, despite its protectionist motivation, the importing country’s optimal tariff induces the firm to adopt the clean technology if and only if it is globally efficient to do so. Under incomplete information, this efficiency property is disrupted. If the optimal tariff is decreasing in the marginal cost, then it leads the firm to bias its choice in favor of dirty technology.

Dynamical fermion masses under the influence of Kaluza-Klein fermions in extra dimensions

The dynamical fermion mass generation in the 4-dimensional brane is discussed in a model with 5-dimensional Kaluza-Klein fermions in interaction with 4-dimensional fermions. It is found that the dynamical fermion masses are generated beyond the critical radius of the compactified extra dimensional space and may be made small compared with masses of the Kaluza-Klein modes.Comment: 11 pages, 3 figures, REVTeX; typos corrected, comment about the symmetry breaking added in section 4, new references for section 1 adde

Dynamical Fermion Masses Under the Influence of Kaluza-Klein Fermions in Randall-Sundrum Background

The dynamical fermion mass generation on the D3-brane in the Randall-Sundrum space-time is discussed in a model with bulk fermions in interaction with fermions on the branes. It is found that the dynamical fermion masses are generated at the natural (R.-S.) radius of the compactified extra space and may be made small compared with masses of the Kaluza-Klein modes which is of order of TeV.Comment: 10 pages, 4 figures, REVTeX; footnote added in section 4, new references adde