The boundaries of Most Favored Nation treatment in international investment law

Copyright © 2012 MJIL Online.No abstract available

System for recording and reproducing pulse code modulated data Patent

System for recording and reproducing PCM data from data stored on magnetic tap

PCM magnetic tape system efficiently records and reproduces data

Split-phase PCM technique consists of data and clock signal recording and reproduction systems. This PCM magnetic tape system achieves a high packing density on the tape and provides a symmetrical reproduction of the recorded signal

Not All Trade Restrictions are Created Equally

There has been great focus in the recent trade theory literature on the introduction of firm heterogeneity into trade models. This introduction has highlighted the importance of the entry/exit decision of firms in response to changes in trade barriers. However, it is typical in many of these models to use iceberg transport costs as a general form of trade barriers that can be interchangeable with ad valorem tariffs. I show that this is not always an appropriate conclusion. Specifically, I illustrate that profit for an exporter is more elastic in response to tariffs than iceberg transport costs, which has implications for total product variety. One such implication is the possibility for there to be an anti-variety effect associated with lower transport costs while there also being a pro-variety effect associated with lower tariffs.Intra-industry Trade; Trade policy; Firm heterogeneity; Monopolistic competition

The Choice of Modeling Firm Heterogeneity and Trade Restrictions

There has been great focus in the recent trade theory literature on the introduction of firm heterogeneity into trade models. However, these models tend to rely heavily on symmetry assumptions and assume melting iceberg transport costs as the only form of trade restrictions. Moreover, a standard assumption is that firms differ across marginal cost, yet empirical evidence suggests this is not the only important source of heterogeneity. I provide a highly tractable model, in which firms differ across fixed costs, that qualitatively maintains the main results of these models, but allows for asymmetric changes in trade restrictions, a necessary step towards studying strategic trade policy. In addition, I highlight the differences in the effects on product variety associated with changes in an ad valorem tariff, iceberg transport costs, and additional beachhead costs to become an exporter. This is important as there are potential offsetting effects on firm entry.Intra-industry Trade; Trade policy; Firm heterogeneity; Monopolistic competition

Friction measuring apparatus Patent

Kinetic and static friction force measurement between magnetic tape and magnetic head surface

Helical tape forming device

Using a device that is not limited to a minimum thickness or width-to-thickness ratio, a very thin metal tape or ribbon is formed into a continuous flat wound helical coil. The device imparts the desired circular shape by squeeze rolling it with an unequal force across its width

Optimal Tariffs with FDI: The Evidence

Recent theoretical work suggests that the presence of foreign direct investment (FDI) lowers a country’s noncooperative Nash tariff. To test this hypothesis, we first adapt the theoretical model formulated by Blanchard (2010) to derive an intuitive, empirically testable equation. This equation is an augmentation of the standard formula equal to the inverse of export supply elasticity. Using constructed estimates of export supply elasticities and measures of FDI, we test this hypothesis with respect to tariffs set by China prior to 2001. We focus on China before its accession into the World Trade Organization (WTO) for two primary reasons: first, China is a recipient of FDI during this time; and second, prior to becoming a WTO member China can be seen as a player in a noncooperative game. We find evidence to suggest that before entering the WTO, China chooses lower tariffs, ceteris paribus, for industries that receive more FDI. This is an important result since having a better understanding of how countries act unilaterally will provide insight into the multilateral cooperative outcome; that is trade negotiations.Foreign direct investment; Optimal tariffs