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作者：Fuchs, Andreas; Kaplan, Lennart; Kis-Katos, Krisztina; Leue, Sebastian; Turbanisch, Felix; Wang, Feicheng
作者单位：University of Gottingen; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); Helmut Schmidt University; University of Groningen
摘要：The COVID-19 pandemic dramatically heightened global demand for critical medical goods, with China being a key supplier. This paper examines the political factors that eased global access to face masks, a vital product during the initial phase of the pandemic. Employing a triple difference-in-differences event study framework, we compare the export dynamics of face masks with those of similar products. Our findings indicate that face mask prices surged after the outbreak of the pandemic, and C...
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作者：Javorcik, Beata; Kett, Benjamin; Stapleton, Katherine; O'Kane, Layla
作者单位：Centre for Economic Policy Research - UK; International Monetary Fund; The World Bank
摘要：This paper uses data on the near universe of job adverts posted online in the US to study the impact of the 2018 trade war on US job opportunities. We develop measures of labor market exposure to three key channels of impact from the trade war: import protection for US producers, the higher cost of imported inputs for US producers, and exposure of US exporters to retaliatory tariffs. We find evidence that both tariffs on imported inputs and retaliatory tariffs led to a relative decline in onli...
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作者：Fabiani, Josefina; Neanidis, Kyriakos C.
作者单位：University of Manchester
摘要：We study the transmission of foreign macroprudential policy to domestic bank loan issuance in emerging markets via cross-border bank flows. We use the universe of bilateral cross-border bank credit transactions to destination countries matched to the macroprudential policy stance in source countries combined with bank balance sheet data in destination markets to document that a tightening of macroprudential policy in source countries reduces the positive impact of cross-border flows on the cre...
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作者：de Ferra, Sergio; Mallucci, Enrico
作者单位：University of Oxford; European Central Bank; Central Bank of Ireland
摘要：Should debtor countries support each other during sovereign debt crises? We answer this question through the lens of a two-country sovereign-default model that we calibrate to the euro-area periphery. First, we look at cross-country bailouts. We find that whenever agents anticipate them, bailouts induce higher borrowings, and yet still enhance welfare. Second, we look at the borrowing choices of a global central borrower. We find that central borrower's policies reduce debt and improve the joi...
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作者：Calani, Mauricio; Margaretic, Paula; Moreno, David
作者单位：Universidad de Chile
摘要：This paper exploits the exogenous changes of destination/origin-specific trade uncertainty (TU) to investigate the direct and spillover effects of TU on firms' foreign-trade operations and credit outcomes. Using transaction-level data of Chilean firms and banks, we first show that increasing TU dampens export growth through a deterioration of firms' working capital. This is especially true when exports are mainly financed by cash-in-advance, a payment mode that entails shorter and less permane...
