By L. R. Klein (auth.), Lawrence R. Klein (eds.)
In the fall of 1990 there has been a feeling of switch occurring on the planet economic system. Readiness for battle was once occurrin~ within the heart East and a recession used to be already underway in a number of significant nations. The forces of reform and political re-shaping have been obvious in japanese Europe and the Soviet Union. We economists, collecting in Osaka, Japan, less than the auspices of the foreign Institute for complicated stories (Kyoto) may realize that the chilly warfare used to be over and that politico-economic restructuring may occur one of the powers within the Warsaw Treaty association. a lot has occurred because the latter a part of 1990 to impact overseas monetary balance. The occasions of that interval have been either confident and adverse for fiscal balance, yet our quandary was once weighted in the direction of the unfavourable aspect. Dur cost and sponsorship was once scholarly, and the papers from the realized members to the symposium and this ensuing quantity used the numerous instruments of monetary research to aim to appreciate the continued advancements. within the intervening interval, whereas this quantity was once being ready and edited, we didn't cnange our viewpoints in any basic method, and we will take pride within the means our symposium both pertains to the unfolding series of occasions in a major feel or presents a framework during which to check those events.
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Extra resources for A Quest for a More Stable World Economic System: Restructuring at a Time of Cyclical Adjustment
Now a new investment opportunity has opened in East Germany -- a name that will soon vanish, in Eastern Europe, and in the Soviet Union. One should not be concerned with the high savings rate of West Germany or Japan. The world requires new capital formation and accordingly sources of funds. What then is the strategie structure of the savings game? At the level-I game, governments react in the Gournot fashion, each assuming that the government expenditures af other countries as given will lead to a Paretoinferior equilibrium with excessive government expenditures (Hamada, 1986).
1986). "Strategie Aspects of International Fisca1 Interdependence," Economic Studies Quarter1y 37, 165-180. Hamada, K. and Y. Nakajo (1986). "Trade Issues and Consumer Interests: The Japanese Experience" (with Yoshiro Nakajo), in the Proceedings of the Symposium Consumer Po1icy and International Trade (Paris: OECD), pp. 57-76. Kennedy, P. (1988). Random House). The Rise and Fall of the Great Powers (New York: Krueger, A. o. (1974). "The Politica1 Economy of Rent-Seeking Society," American Economic Review 64, 291-303.
This chapter attempts to formulate trade disputes concerning tariff rates as a two-level game. In contrast to the rent-seeking literature, where lobbying activities exhaust the rent, we assume that some part of lobbying expenditures is transferred to the government agent. It is shown that counter-lobbying, that is, lobbying across the national border, will often be beneficial to the consumer interest in both countries engaging in international trade. 1. INTRODUCTION At the turn of the decade of the 1990s, the world has already experienced several dramatic changes in international poli tical and economic relations.
A Quest for a More Stable World Economic System: Restructuring at a Time of Cyclical Adjustment by L. R. Klein (auth.), Lawrence R. Klein (eds.)