Trade, Growth, and Economic Policy in Open Economies, Softcover reprint of the original 1st ed. 1998 Essays in Honour of Hans-Jürgen Vosgerau

Part 1 of this volume focusses on globalization. Gains from trade, international competitiveness, labour market issues in open economies, customs unions, dumping and intra-firm trade are the topics of this part. Part 2 puts a stronger emphasis on dynamic economics. Social income, intergenerational transfers, public pension systems, and bequest and gift motives in overlapping generation models are main topics. Economic policies are analyzed in Part 3, including the relation between wage rigidity and migration, several aspects of German financial and monetary policy, as well as tax competition. The volume concludes with institutional issues of globalization, a western view on eastern transition, social cost of rent seeking, and the evolution of social institutions.

I. International Trade.- Globalization and the Gains from Trade.- International Competitiveness, Multinational Enterprise Technology Clubs and the Government Interface.- Dual Labour Markets, Unemployment and Trade Gains/Losses in Developing Countries.- Employment Policy and Real Wages.- Sectoral Structure and Unemployment in Open Economies.- Welfare Effects of Trade-Diverting Customs Unions: A Quantitative Approach.- Dumping and Predatory Pricing in an International Duopoly.- Intra-Firm Trade and Exchange Rate Risk.- II. Economic Growth.- On the Evaluation of Social Income in a Dynamic Economy: Generalizations.- Intergenerational Transfers, Economic Growth and Income Distribution.- On the Pareto-Improving Abolition of Unfunded Public Pension Systems: An Application of Growth Theory.- An Overlapping-Generations Model with Heterogeneous Bequest and Gift Motives.- III. Economic Policy.- Resisting Migration: Wage Rigidity and Income Distribution.- Effects of Monetary Policy in a Macroeconometric Disequilibrium Model for the West German Economy.- Impact of German Discount and Lombard Policy on Financial Markets.- Bank Behavior, an Options View of Rediscount Quotas, and the Theory of Money Supply.- Global Capital Movements, Exchange Rate Risks and Monetary Policy.- Tax Policy and the Location Decision of Firms.- Equilibria in Tax Competition Models.- IV. Economic Systems and Institutions.- Institutional Competition and Globalization.- An Institutional Order for a Globalizing World Economy.- Western Economic Theory and The Transition: The Public-Choice Perspective.- The Social Cost of Rent Seeking When Victories are Potentially Transient and Losses Final.- Social Institutions and Local Interaction Structure.- List of Contributors.

The book presents * results of recent research in the field of international trade, economic growth, and open economy macroeconomics. It includes contributions written by influential economists with great international reputation.