Strategic Trade and Industrial Policy Towards Dynamic Oligopolies
刻画了动态寡头市场中的最优贸易与产业政策，分析了政府承诺与否对干预策略的影响，并应用于研发溢出、消费者转换成本等场景。
In this paper characterise optimal trade and industrial policy in dynamic oligopolistic markets. If governments can commit to future policies, optimal first-period intervention should diverge from the profit-shifting benchmark to an extent which exactly offsets the strategic behaviour implied by Fudenberg and Tirole's "fat cats and top dogs" taxonomy of business strategies. Without government commitment, there is an additional basis for intervention, whose sign depends on the strategic substitutability between future policy and current actions. We consider a variety of applications (to R&D; spillovers, consumer switching costs, etc.) and extensions to second-best, revenue-constrained and entry-promotion policies.