| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7594 |
| DP7594 Does the Fed Respond to Oil Price Shocks? | |
| Lutz Kilian; Logan Lewis | |
| 发表日期 | 2009-12-06 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Models dealing with cross-border acquisitions versus greenfield investment usually assume that the entry of a foreign firm into a market has effects on the outputs of all domestic firms in that market, but exit or entry of local firms is not considered. The purpose of this paper is to re-examine the acquisition versus greenfield versus exporting question under fixed versus free entry assumptions for local firms. Our finding is that greenfield entry and exporting options are more attractive relative to acquisition when the local market structure adjusts to foreign entry through local entry or exit than when it is fixed. The entering foreign firm may do better or worse under free entry versus a fixed market structure depending on its optimal choice under the latter assumption. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Cross-border acquisitions Endogenous market structures Foreign direct investment Multinational firms |
| URL | https://cepr.org/publications/dp7594 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536431 |
| 推荐引用方式 GB/T 7714 | Lutz Kilian,Logan Lewis. DP7594 Does the Fed Respond to Oil Price Shocks?. 2009. |
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