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作者：Herkenhoff, Philipp; Krautheim, Sebastian
作者单位：Johannes Gutenberg University of Mainz; University of Passau; Leibniz Association; Ifo Institut
摘要：In recent decades, many leading firms in a diverse set of industries have faced consumer boycotts and NGO campaigns based on allegations of 'unethical' practices along their international value chains. The large number of campaigns triggered by actions of independent suppliers points at a link between (un)ethical practices and the organization of production. We construct a measure of potential cost savings of unethical production at the industry-country level and show that it indeed correlates...
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作者：Beshkar, Mostafa; Lee, Ryan
作者单位：Indiana University System; Indiana University Bloomington; University of La Verne
摘要：We evaluate two potential causes of deviation from efficiency in WTO negotiations: (i) a free-riding problem that may be caused by the WTO's nondiscrimination requirement, and (ii) asymmetric information about government preferences. Theories based on the above two causes generate starkly different predictions about the pattern of negotiated tariffs. We find that the WTO agreement provides more tariff flexibility in products with lower import market power. This finding is consistent with the i...
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作者：Goetz, Martin R.; Gozzi, Juan Carlos
作者单位：Deutsche Bundesbank; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：We analyze the effect of the geographic expansion of banks across U.S. states on the co movement of economic activity between states. Exploiting the removal of interstate banking restrictions to construct time-varying instrumental variables at the state-pair level, we find that bilateral banking integration increases output co-movement between states. The effect of financial integration depends on the nature of the idiosyncratic shocks faced by states and is stronger for financially dependent ...
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作者：Mallucci, Enrico
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：I investigate how natural disasters can exacerbate fiscal vulnerabilities and trigger sovereign defaults. I extend a standard sovereign default model to include disaster risk and calibrate it to a sample of seven Caribbean countries that are frequently hit by hurricanes. I find that hur-ricane risk reduces governments' ability to issue debt and depresses welfare. Climate change will further restrict governments' access to financial markets and weigh on welfare. Disaster clauses, especially tho...
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作者：Porteous, Obie
作者单位：Middlebury College
摘要：Reduced oil revenues since 2014 are stimulating tradable sectors in oil-exporting countries. I use an open economy model with internal and external trade costs to investigate the prospects for reverse Dutch disease in African countries with a comparative advantage in agriculture. While falling resource revenues lead factors of production to shift into agriculture, remote farmers can lose when trade costs make agricultural goods behave like non-tradables. Household survey data from Nigeria show...
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作者：Hinz, Julian; Monastyrenko, Evgenii
作者单位：University of Bielefeld; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); University of Bielefeld; University of Luxembourg
摘要：In August 2014, the Russian Federation implemented an embargo on select food and agricultural imports from Western countries in response to previously imposed economic sanctions. In this paper we quantify the effect of this embargo on consumer prices and welfare in Russia. We provide evidence for the direct effect on monthly consumer prices with a difference-in-differences approach. The embargo caused prices of embargoed goods to rise by up to 7.7% - 14.9% in the short run and by on average 2....
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作者：Gafaro, Margarita; Pellegrina, Heitor S.
作者单位：New York University; New York University Abu Dhabi; Banco de la Republica Colombia
摘要：This paper studies how farmers' participation in non-local markets shapes agricultural productivity. Using farm-level data from Colombia, we document two empirical patterns about the spatial organization of agriculture. First, across municipalities, better access to urban centers increases farmers' productivity and participation in non-local markets, but reduces farm size. Second, within municipalities and crop-choices, larger farms participate more in non-local markets and have higher product...
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作者：Meinen, Philipp; Parrotta, Pierpaolo; Sala, Davide; Yalcin, Erdal
作者单位：Aarhus University; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS); IESEG School of Management; Universite de Lille; University of Passau
摘要：While managerial mobility is ubiquitously seen as an integral part of the success in firms' internationalization, discerning its empirical merits has been impaired by the paucity of quasi experimental evidence, or adequate instrumental variables. To overcome these objective limitations, this paper proposes a novel identification strategy, which uses a control function based on on-the-job search theory to correct estimates for the presence of self-selected mobility flows. Our analysis confirms ...
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作者：Che, Yi; Lu, Yi; Pierce, Justin R.; Schott, Peter K.; Tao, Zhigang
作者单位：East China University of Science & Technology; Tsinghua University; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：We examine election voting and legislators' roll-call votes in the United States over a twenty-five year period. Voters in areas more exposed to trade liberalization with China in 2000 sub-sequently shift their support toward Democrats, relative to the 1990s, though this boost for Democrats wanes after the rise of the Tea Party in 2010. House members' votes in Congress ra-tionalize these trends, with Democratic representatives disproportionately supporting protec-tion during the early 2000s. T...
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作者：Eichengreen, Barry; Naef, Alain
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); European Central Bank; Bank of France
摘要：Using newly assembled data on foreign exchange market intervention, we construct a daily index of exchange market pressure during the 1992-3 crisis in the European Monetary System, allowing us to pinpoint when and where the crisis was most severe. Our analysis focuses on a neglected factor in the crisis: the role of the weak dollar in intra-EMS tensions. We provide new evidence of the contribution of a falling dollar-Deutschmark exchange rate to pressure on EMS currencies.(c) 2022 Elsevier B.V...
